Thursday, 14th October 2004 (2597 views)

Australia's biggest gold producer Newcrest Mining has revealed it has doubled its gold reserves after further drilling at its Indonesian deposit.

The mining company has now got estimated reserves of 2.2. million ounces at its Kencana deposit at Gosowong.

Based in Melbourne, the company is continuing drilling in order to ascertain the extent of the mineralisation.

Newcrest owns 82.5 per cent of Kencana and its Indonesian partner PT Aneka Tambang holds the remainder.

 

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