UT: December gold sales at Martabe mine reaches 35,000 ounces
Thursday, February 28 2019 - 08:50 AM WIB
IDX-listed heavy equipment and mining firm PT United Tractors Tbk (UT) said on Wednesday that consolidated gold sales in December 2018 at the Martabe gold mine in Tapanuli Selatan Regency, North Sumatra Province, was around 35,000 ounces of gold.
UT did not provide the full-year sales figure. PT Agincourt Resources, which owns the Martabe mine, reported last year that gold sales in 2017 reached 352,366 ounces.
UT through subsidiary PT Danusa Tambang Nusantara acquired in December of last year 95 percent shares in Agincourt. Gold output at the Martabe mine this year is projected to reach around 350,000 ounces, UT Corporate Secretary Sara K. Loebis said on January 14.
The Martabe gold mine is projected to be able to continue production at least until 2033.
According to Agincourt website, the Martabe gold mine covers a total area of 1,303 km². The resource base on 31 December 2017 includes 8.8 million oz of gold and 72 million oz of silver. Production commenced at Martabe on 24 July 2012.
Editing by Reiner Simanjuntak