Indonesia: Indonesian Antam to develop third gold mine on Java.Byline: manish Manish is a common Indian name, derived from a Sanskrit word - "manishi" meaning "A scholar or an intellectual" Contrary to the popular belief , the name "Manish" is not composed of two words "man"(mana) which means Mind and "ish" which means God. 03 Indonesia's state-owned state-owned adj → estatal, del estado state-owned adj → étatisé(e) state-owned state adj → PT Aneka Tambang Tbk plans to develop a third gold mine on Java, lifting the firm's output by 40 percent or 2 tonnes a year, the company's senior vice president said on Thursday. Antam, which is 65 percent-owned by the Indonesian government, already has two gold mines on Java -- Pongkor and the newly-acquired Cibaliung. The firm is also involved in the exploration and production of nickel nickel, metallic chemical element; symbol Ni; at. no. 28; at. wt. 58.69; m.p. about 1,453°C;; b.p. about 2,732°C;; sp. gr. 8.902 at 25°C;; valence 0, +1, +2, +3, or +4. ore and bauxite bauxite (bôk`sīt, bŏk`–), mixture of hydrated aluminum oxides usually containing oxides of iron and silicon in varying quantities. . "We've done the exploration and we're waiting for a mining licence from the government," said Wawan Herawan, referring to the Papandayan project in West Java. "In terms of loan, we have plenty of interest from investors. I don't think we will have trouble getting loans from banks either," he told Reuters Reuters British cooperative news agency. Founded in 1851 by Paul Julius Reuter, it was initially concerned with commercial news but began to serve a growing newspaper clientele after the London Morning Advertiser subscribed in 1858. on the sidelines On the sidelines An investor who decides not to invest due to market uncertainty. on the sidelines Of or relating to investors who, having assessed the market, have decided to avoid committing their funds. of a gold conference. Herawan gave no further details but said the Papandayan project was forecast to produce around 2 tonnes of gold a year, similar to an expected output from Cibaliung. The Pongkor mine, near the Indonesian capital of Jakarta, churns out up to 3 tonnes of gold a year. Antam said in July it planned to spend $40 million to develop the Cibaliung gold project in West Java and expects the mine to start production in the second half of 2010. The Cibaliung gold mine is expected to produce 500 kilograms of gold next year and will have a full production of 2,000 kg at the start of 2011. Copyright : Euclid Infotech Pvt. Ltd. Provided by Syndigate.info an Albawaba.com company |
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