Ancora to buy West Lombok project

Southern Arc Minerals has entered into a binding term sheet with PT Ancora Indonesia Resources for the sale of its West Lombok Gold-Copper Project in West Nusa Tenggara, Indonesia. Ancora, which is listed on the Jakarta Stock Exchange, will acquire all issued and outstanding shares of Southern Arc’s Singaporean subsidiary Indotan Lombok Pte Ltd.

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Thiess awarded A$300 million KPC contract

CIMIC Group’s global mining services provider Thiess has been awarded a A$300 million contract by Kaltim Prima Coal (KPC) to expand operations at Sangatta Coal Project in East Kalimantan, Indonesia. The contract will extend the current life-of-mine contract until December 2021.

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Drilling shows Bayan Khundii potential

The latest drilling results from Erdene Resource Development Corp’s Bayan Khundii Gold Project in southwest Mongolia demonstrate the growth potential of the project. Holes to the west of Striker deposit and east of Midfield provide the widest gold mineralised intersections in these areas to date.

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Aspire seeks funds to fast track Nuurstei

Aspire Mining intends to use funds raised from a A$16.5 million renounceable Rights Issue to expedite development of its Nuurstei Coking Coal Project in Northern Mongolia. The company hopes the funds will enable it to fast track Nuurstei into production within 18 months.

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