Antam and Newcrest team up to secure new gold prospects in Indonesia

Image credit: freedigitalphotos By: Boykung

Diversified mining and metals company Antam and Australian gold producer Newcrest Mining have expanded their long-standing partnership with the signing of an agreement that will see the two companies cooperate in the identification of opportunities and development of gold and associated minerals exploration in several new prospective areas in Indonesia.

Image credit: freedigitalphotos By: Boykung
Image credit: FreeDigitalPhotos.Net By: Boykung

In 2012, Antam acquired from Newcrest a 7.5% interest in the Gosowong mine in Indonesia. This time around, the companies will jointly conduct mineral exploration in several prospective areas in the country, including West Java, East Java, South Sumatra, Nusa Tenggara, North Sulawesi, Halmahera and Mollucas Islands.

Commenting on the cooperation, Antam’s President Director Tedy Badrujaman said that the companies have committed to share information related to the technical, economic, legal and commercial feasibility of the opportunities within the agreed area for further mining of gold and associated minerals.

“Given gold commodity is one of our major commodities beside nickel and bauxite, the cooperation aims to secure new and promising gold prospects, resulting in increased gold portfolio and business expansion for Antam,” Mr Badrujaman said.