PERTH (miningweekly.com) – Australian gold miner Newcrest Mining has formed a strategic alliance with fellow-listed PT Antam to conduct copper and gold exploration over several prospective areas in Indonesia.
The areas covered in the strategic alliance include West and East Java, South Sumatara, Nusa Tenggara, North Sulawesi, Halmahera and Moluccan Islands.
Under the strategic alliance, the two companies will cooperate to identify and examine opportunities in these areas, and will share and exchange mining information and other information in relation to the exploration activities.
“Newcrest has a proud exploration and operating history in Indonesia. We also have a long and successful working relationship with Antam in Indonesia through PT Nusa Halmahera Minerals, which manages the Gosowong gold mine,” said Newcrest chief development officer Michael Nossal.
“We are hopeful that this new agreement with Antam will result in opportunities that will allow Newcrest and Antam to grow their business in the country.”
Antam president director Tedy Badrujaman said on Monday that the cooperation with Newcrest reflected Antam’s decision to expand its asset base and add value to Indonesia’s vast mineral reserves and resources.
The execution of the strategic alliance followed the signing of a binding heads of agreement in November last year.