ANTAM and NEWCREST Enter Into A Strategic Alliance to Identify Exploration Opportunities For Development in Indonesia
Home News, Reports and Presentations News Releases
Sydney, November 6, 2016 - PT ANTAM (Persero) Tbk (ASX: ATM; IDX: ANTM; ANTAM) and Newcrest Mining Limited (Newcrest) (ASX:NCM) are pleased to announce that they have entered into a strategic alliance to 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 Mollucas Islands. If the parties identify projects of merit they will pursue these through separate joint venture arrangements.
The strategic alliance between ANTAM and a subsidiary of Newcrest was marked through the signing of the Strategic Alliance Agreement (SAA) between ANTAM’s President Director Tedy Badrujaman and Newcrest’s Chief Development Officer, Michael Nossal on November 6, 2016 in Sydney, Australia. The signing was witnessed by Indonesia’s Trade Minister, Enggartiasto Lukita and Mr Thomas Lembong, Chairman of the Investment Coordinating Board of the Republic of Indonesia. The execution of the SAA concludes negotiations following the signing of a binding heads of agreement by the parties on November 16, 2015.
ANTAM’s President Director, Tedy Badrujaman, said,
Newcrest’s Chief Development Officer, Michael Nossal said,
Under the SAA, ANTAM and Newcrest will cooperate and work together to identify and examine opportunities in West Java, East Java, South Sumatera, Nusa Tenggara, North Sulawesi, Halmahera and Mollucas Islands. ANTAM and Newcrest will also plan to share and exchange mining information and other information in relation to the cooperation.