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: Roughrider who wrote (27590)	12/11/1997 10:55:00 PM
From: alan holman	Read Replies (1) of 28369

To: +ole 49r (1376 ) From: +william smith Sunday, Dec 1 1996 11:48PM EST Reply # of 27594 Just off the Wire Bridge News Jakarta--Dec 2--Barrick Gold Corp. of Canada announced over the weekend it would develop 2 large gold projects in East Kalimantan, Bisnis Indonesia reported today. Barrick Communications Director David W. Morgan identified the 2 projects as the 747,800-hectare International Pursuit concession at Kutai and the 100,100-hectare Dayak Goldfields concession at Berau. "During the first 2 years, we will spend US $10 billion on these projects. The investment is extremely high because the gold business is very expensive," Morgan told reporters over the weekend. These projects are in addition to the huge Basang mining venture Barrick will share with Bre-X of Canada. Barrick's early investment in Busang will be around US $1.5 billion. Morgan said Barrick had a number of other gold mining projects in Indonesia, including planned ventures in Irian Jaya, Aceh, Central Kalimantan and East Nusa Tenggara provinces. Will

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