Newcrest Mining has entered into separate exploration agreements with Randgold Resources and Antam. Newcrest is a gold producing company headquartered in Sydney, Australia. Randgold is a gold producing company headquartered in London, England. Antam produces a range of natural resources, including gold and silver, and is headquartered in Jakarta, Indonesia.Under the Randgold/Newcrest agreement, the companies will establish a joint venture for the exploration, development and mining of mineral resources in an area of interest in the southeast of Côte d’Ivoire. The area covers the extension of some of the more prolific Ghanaian gold belts and associated structures.
Randgold will manage the exploration program as well as any mines that it produces. A technical committee of senior geologists from both companies will work closely with the Randgold exploration team, and a joint-venture board will oversee the exploration program and any consequent development projects.
“Newcrest is pleased to team up with Randgold on this exciting project,” said Newcrest Chief Development Officer Michael Nossal. “Randgold have proven their ability to successfully explore and operate in Africa over many years. Combining this with our own experienced West African exploration team to apply the best thinking from each group will provide a strong competitive edge in what we consider to be a prospective part of Côte d’Ivoire.”
Under the Antam/Newcrest agreement, the companies will undertake exploration for gold and copper deposits in several prospective areas in Indonesia. The areas covered in the agreement are West Java, East Java, South Sumatera, Nusa Tenggara, North Sulawesi, Halmahera and the Mollucas Islands. If the parties identify projects of merit they will pursue these through separate joint-venture arrangements.
Regarding the Antam agreement, Nossal said, “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 in the North Halmahera district of North Maluku province. We are hopeful that this new agreement with Antam will result in opportunities that will allow Newcrest and Antam to grow their businesses in the country.”
