Sigmagold to expand to mining contracting

By Hiski Darmayana

IDX-listed gold miner PT Sigmagold Inti Perkasa Tbk is seeking to expand to the mining contracting business. It is currently in talks to try to seal a mining contracting agreement with a gold mining producer.

?Unfortunately, we cannot as yet reveal the company and where it is located. We are in intense negotiation, hopefully a cooperation agreement can be inked by 2014,? said President Director Steven Kesuma to Petromindo.com during a gathering on Friday in Jakarta.

?We have the armada and expertise in this area,? he said of the reason behind the company?s expansion.

Sigmagold, formely PT Agis which operated in the electronics trading sector, currently has two gold mining concessions with a combined area of around 7,000 hectares in West Sumatra.

The two concessions are still in exploration stage, but a production trial is targeted to commence in the first half of next year in one of the mines at a capacity of between 20,000 and 40,000 m3 a month, added Steven.

Editing by Reiner Simanjuntak