SYDNEY (Yosefardi) – Ministry of forestry has granted an extension to the borrow-use (Pinjam Pakai) forestry permit for the Trenggalek mining license to November 2015, Arc Exploration said.
“This allows the company to conduct exploration work on several targets in production forestry areas within the tenement,” Arc said.
Arc Exploration, listed on ASX, has 95% interest in PT Sumber Mineral Nusantara, which holds the mining license for Trenggalek, over an area of 300 KM2 in the southern mountains of East Java.
In December 2012, Anglo American elected to enter into an agreement with Arc and Sumber Mineral Nusantara to farm into the Trenggalek project.