JAKARTA. PT Indika Mineral Investindo (IMI), a subsidiary of PT Indika Energy Tbk (INDY) will soon inject US$ 25 million of capital into the Awak Mas gold mine project, together with Nusantara Resources and Masmindo.
The plan will be executed after IMI gets approval from its shareholders and Nusantara Resources gets permission from the Ministry of Energy and Mineral Resources (ESDM). Furthermore, IMI also has a second capital investment plan with a value of US$ 15 million.
Azis Armand, Managing Director and Chief Executive Officer (CEO) of INDY, said that the gold business has good prospects. "We are investing in the gold sector because of its good prospects in the future," Armand explained as reported by Kontan on Tuesday (25/2) yesterday.
For information, the Awak Mas gold mine can be exploited until 2050. The mine is estimated to have reserves of 3.1 million ounces of gold. (KR/AR)