The contract for the first-phase optimization study of Newmont Gold’s (NYSE) Batu Hijau copper-gold project in Indonesia was awarded to Flour Daniel.
The study will determine the best way to develop, mine and process the deposit, as well as assess infrastructure requirements. Scheduled for completion in early 1995, the study will be followed by a second-phase feasibility. A development decision will follow.
Newmont says Batu Hijau, on the island of Sumbawa, contains an estimated 12.6 million oz. gold, 25 million oz. silver and 10 billion lb. copper. The project is 80% owned by Newmont and 20% by P.T. Tanjung Serapung of Jakarta.
Newmont recently approved a construction start for its Minahasa gold project on the Indonesian island of Sulawesi.
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