SYDNEY (Indonesia Today) – Newcrest Mining Limited plans to spend A$20-25 million for exploration programs at Gosowong, Halmahera, Indonesia in the financial year 2013 starts July 2012.
Newcrest said the investment will help Newcrest in stepping out drilling around Toguraci and Kencana plus regional exploration within the contract of work. Newcrest and state miner Aneka Tambang are partners in the concession.
Gosowong mine is expected to produce 375,000 ounces to 425,000 ounces of gold in the fiscal year 2013, declined from the previous year on lower grades.