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,
" ANTAM’s cooperation with Newcrest reflects our undertaking to expand our asset base and to add value to Indonesia’s vast mineral reserves and resources. We are also pleased to strengthen our partnership with Newcrest which will take advantage of the current positive momentum of the mining industry. "
Newcrest’s Chief Development Officer, Michael 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 (PTNHM) 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 "
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.
About ANTAM
ANTAM is a diversified, vertically integrated natural resources based company with nickel ore, ferronickel, gold, silver, bauxite, coal, alumina and precious metal processing and refinery services as its main business. It is one of Indonesia’s leading companies with more than 48 years of experience and has abundant reserves of high quality nickel, gold and bauxite. ANTAM is 65% government held and listed on Jakarta and Australia securities exchanges.
About NEWCREST
Newcrest is one of the largest gold mining companies in the world with operating mines in four countries. The Company’s vision is to be the Miner of choice™, leading the way in safe, responsible, efficient and profitable mining. Its mission is to deliver superior returns from finding, developing and operating gold/copper mines by prioritising safety, operational discipline, cash generation and profitable growth
