Elang copper/gold deposit is bigger than Batu Hijau: Newmont
Wednesday, November 3 2010 - 02:57 AM WIB
US mining giant Newmont Mining Corp. revealed on Tuesday that Elang copper/gold deposit, could turn out to be bigger than its currently producing Batu Hijau giant mine.
Elang is located about 60 km east of Batu Hijau, and located within the same contract of work as Batu Hijau.
The company said in its quarterly presentation that the Elang deposit has ?potential for larger resource than BatuHijau, which contained ~19 Moz Au and ~18 Blbs Cu in Reserves and NRM1Status.?
In May 2010, Newmont Nusa Tenggara President Martiono Hadianto said that the company needed US$3 billion to develop the Elang copper reserve, which has estimated sufficient reserves for production until 2060. NNT is a unit of Newmont that runs the Sumbawa contract of work.
NNT plans to develop four mines including Elang after 2017 in Sumbawa island, Martiono said.(alex)
