Sigmagold to start gold production in second semester
Friday, March 31 2017 - 02:24 AM WIB
IDX-listed PT Sigmagold Inti Perkasa Tbk hopes to be able to start production at its gold concession in Pasaman Regency, West Sumatra Province, in the second semester of this year.
Sigmagold President Director Adriano Wolfgang Pietruschka said on Thursday that the company is hoping to soon obtain the required permits including approval of the environmental impact assessment (or AMDAL) within the next two months and the IUP Operation and Production permit in the second semester. After (acquiring all the permits) we?ll immediately enter production stage, in the latter part of this year,? he said.
Sigmagold, which was previously known as PT Agis focusing on electronics business, started diversifying into gold more than two years ago by acquiring a 2,890-ha gold concession in Pasaman with reserves estimated at 110,000 ounces of gold.
According to Adriano, recent trial production on a 200 sqm area showed gold production of more than 1 gram per cubic with purity of more than 96 percent.
?The purity is quite high. The reserves are also huge around 110,000 troy ounces. In a number of locations, gold can be found at a depth of only 2 meters,? he said.
The company has yet to decide the market for its gold output.
Adriano said that the company was also looking to acquire a new gold mine, also in Pasaman, probably to be executed next year. He declined to provide further details.
Editing by Reiner Simanjuntak