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Monday, 29th December 2008 (1911 views)

Oz Minerals has revealed that it has received several expressions of interest from firms looking into the possibility of purchasing its Martabe gold project.

The gold prospect in Indonesia is located in the North Sumatra province and covers a 2,500 sq km area close to existing infrastructure.

Melbourne-based Oz Minerals is looking for a gold company to assume responsibility for the Martabe prospect, Bloomberg reports.

Andrew Michelmore, chief executive of Oz Minerals, said: "There are a number of parties who are very interested and they have done a lot of work on the evaluation."

Australia's third-largest diversified mining company, Oz Minerals has placed the property up for sale in order to reduce debt.

In its Mineral Resources and Ore Reserves Statement as of June 30th 2008, Oz Minerals reported a year-on-year increase in gold of 19 per cent to estimated resources of 19 million ounces and reserves of 4.24 million ounces of gold.

 

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