Sumbawa Timur Mining to resume exploration
Thursday, February 26 2004 - 12:18 AM WIB
Copper and gold explorer PT Sumbawa Timur Mining (STM) said it would resumed exploration activities in Sumbawa island, West Lombok province, mining news website Minergynews.Com reported quoting STM president Roderict E Jones.
Jones said STM had secured back up from US miner Phelps Dodge, but he did not elaborate.
The company suspended exploration activities on the island during the economic crises that hit Indonesia in 1997.
According to the latest data, STM is 60 percent owned by Australia?s Western Metals Resources, with the remaining stake equally 20 percent by another Australian miner Giralia Resources and state mining firm PT Aneka Tambang Tbk. (*)