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Friday, 3rd June 2005 (4076 views)

Norway's Guinor Gold Corporation has said that it will proceed with the acquisition of a plant from gold miner PT Kelian Equatorial Mining (KEM) after the Indonesian government turned down an offer to buy the deposit. <br/><br/>Previously Guinor had signed a sales and purchase agreement to acquire the plant and this was subject to a number of conditions including the government rejecting an offer to buy the facility.<br/><br/>KEM, a subsidiary of Anglo-Australian mining giant Rio Tinto, ceased operations following depletion of its gold deposits in February. <br/><br/>In a statement, Guinor said: "Guinor is pleased to announce that PT Kelian Equatorial Mining has received the appropriate Indonesian government rejections to allow the purchase of the Kelian Gold plant from KEM."<br/><br/>The company has not yet disclosed the value of the deal. <br/><br/>KEM ran a gold mine in the West Kutai regency in East Kalimantan where it mined an estimated 14 tons of gold per year.<img alt="track" src="http://directnews.dehavilland.co.uk/dn.gif?feedid=196&itemid=8658320"/>

 

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