Mob attacks Martabe Gold Project

MEDAN, Indonesia Today – A mob of hundreds of men attacked one operational car and waste pipeline of PT Agincourt, operator of Martabe gold project in Batangtoru, North Sumatra.  According to local newspaper Analisa Daily, the group rejects the establishment of PT Agincourt’s waste pipeline to Batangtoru River.
“The people live just outside the mine area have since three months AGO rejected the waste pipeline. They have sent official letter to Tapanuli Selatan Regency but got no response, and so the construction continued. People have gone tired and started to express their anger,” Ismail Pohan, a local leader, said.  According to him, Agincourt has never communicated properly the waste pipeline to local people.”People were afraid that the waste will harm their livelihood from the river,” Ismail added.

G-Resources Ltd, parent company of Agincourt, expects to first production at the Purnama pit at a rate of 250,000 ounces per annum of gold and 2-3 million ounces per annum of silver by July 2012. Martabe has resource base of 7.86 million ounces of gold and 73.48 million ounces of silver. The project is established under a sixth generation Contract of Work which was signed in April 1997.
G-Resources has increased its total capital expenditures for the project to US$678 million due to the schedule slippage from end March to July 2012. Total funds required from April 1st, 2012 to first production are estimated to be US$154 million. The company said it has spent US$542 million for the project until March 2012.

 

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Tags: attacks Martabe, Gold Project, Mob, Mob attacks Martabe Gold Project

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