BRE-X, Indonesia, Ashanti Goldfields, Strong Companies. Message Board

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Gold/Mining/Energy : BRE-X, Indonesia, Ashanti Goldfields, Strong Companies.

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To: Bob who wrote (8013)	3/26/1997 1:08:00 AM
From: Gerald R. Lampton	of 28369

Here's Dow Jones' story on the Cows. It was out this afternoon. I'm surprised no one posted it. Dow Jones International News Copyright (c) 1997, Dow Jones & Company, Inc. Tuesday, March 25, 1997 Indonesia/Contracts Of Work -2: Follows Long Battle -- BXMNF JAKARTA (AP-Dow Jones)--Indonesian President Suharto has given the nation's Minister of Mines and Energy Ida Bagus Sudjana the authority to approve 68 Contracts of Work for mining in Indonesia, an official at the Ministry told Dow Jones Tuesday. He said among the contracts which have been approved is that of Bre-X Minerals Ltd. (BXMNF) and its partners to develop the Busang gold deposit in East Kalimantan, the official said Tuesday. 'Yes, they (68 contracts of work) include the one for Bre-X,' said an official at the office of the Director General of General Mining. Bre-X along with partners Freeport-McMoRan Copper & Gold Inc. and private Indonesian companies PT Askatindo Karya Mineral and PT Amsya Lyna received government approval last month to form a joint venture to develop Busang. Suharto's approval of Bre-X's contract, however, follows a drawn out battle for control of Busang, which included North American mining giants Barrick Gold Corp. and Placer Dome Inc. Bre-X was threatened on a number of occasions by the Ministry during the past year with having its contract application terminated.

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