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Monday, April 11, 2011

Industry

COMMODITIES

JAKARTA. Indonesia was believed to still have enough gold reserves. According to Bambang Setiawan, Director General of Mineral and Coal Ministry of Energy and Mineral Resources, the gold potential spread evenly throughout Indonesia, especially in the area of ​​ring of fire such as Aceh, North Sumatra, and Bengkulu.

However, the considerable potential that has not been exploited to the maximum. Bambang explained to conduct gold exploration was not easy, because it takes a long time to process research, environmental impact and costs. "If the reserve is not too strategic and potentially damaging to the environment, we do not exploration," said Bambang told KONTAN, Tuesday (21/12).

One of the gold-producing areas that have been carried out exploration is Martabe, North Sumatra. Bambang said Martabe gold reserves had been about 25 years ago known to exist. He himself said he did not know the details of gold reserves contained in Martabe. However, as long as there is gold reserves estimated at 6.5 million ounces. Miner Hong Kong, G-Resources, claimed to have discovered a new gold zone in Martabe. G-Resources aims to start construction in 2011 with a production target of 250 thousand ounces of gold per year.

Earlier, news had spread of PT. Aneka Tambang (Antam) has plans to open exploration in Martabe. However, Alwinsyah Lopez, Director of Antam, deny the plan. "We do not plan to open exploration there," he said when contacted KONTAN, via telephone, Tuesday (21/12).

During this Antam has conducted gold exploration in some areas such as Dairi and Karo, North Sumatra, Batangasai-Jambi, West Java Pongkor and Papandayan, Cibaliung-Banten, Central Sulawesi and Oksibil-Wawonii-Papua. According to a report released on the official website, gold production from January to September 2010 reached 623 kg, up 6% of production in 2009. According Alwinsyah, Antam has set this year's gold production target of 3 tons. He is optimistic the target would be achieved by September although production has only reached 623 kg.

Meanwhile, PT. Newmont Nusa Tenggara (PTNNT) in next year plans to open a new gold exploration in the area of ​​Eagle, Sumbawa, West Nusa Tenggara (NTB). According Kasan Mulyono, Manager Public Relations PTNNT, it has not been able to target the production of gold that can repeated there, it is still in research stage. "But we believe there's gold reserves at strategic enough," said Kasan.

During this time, PTNNT conduct gold exploration in just one area that is Batuhijau, Sumbawa, West Nusa Tenggara. In the year 2010, PTNNT successfully gain of about 744000-810000 ounces of gold. "We can not love the details, because this year's production is still running," said Kasan.

On the other hand, gold production of PT. Freeport Indonesia (PT-FI) is decreasing in this year. According to the release of the official site of Freeport-McMoRan Copper & Gold Inc., PT Freeport Indonesia's gold production until January to September this year reached about 1.185 million ounces, down 41.7% compared to production in the same period last year, about 2.033 million ounces. Based on these reports, the main cause of decline in PT Freeport Indonesia's gold production this year is the low levels of mineral ore open-pit mining operations at Grasberg.

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