The world class Grasberg mine is situated at Tembagapura, Irian Jaya. The mine has proven and probable reserves estimated at 2600 Mt grading at 1.13% copper, 1.05 g/t gold and 3.8 g/t silver. Reserve estimates have doubled since 1995. PT Freeport is Indonesia’s largest taxpayer and has paid an estimated $1.3 billion to the government since 1992.
The Hijau copper-gold mine is located on the island of Sumbawa at a cost of $1.9 billion. PT Newmont Nusa Tenggara (PTNNT) is the operator and represents a joint venture between Newmont Mining (45%), Sumitomo Corporation (35%) - collectively 80% and local partner PT Pukuafu Indah (20%). Reserves have been estimated at 1 000 Mt grading at 0.52% copper and 0.4 g/t gold, with an expected life of mine of 25 years.
Newmont holds an 80 percent interest in the Minahasa gold mine through PT Newmont Minahasa Raya. An Indonesian company, PT Tanjung Serapung, holds the remaining 20 percent. Other major gold and silver producers included of PT (KEM) Kelian Equatorial Minin's Kelian Equatorial mine in East Kalimantan. The Mt Muro mine in Central Kalimantan is operated by Aurora Gold. Both the Kelian mine and the Minahasa Raya gold mine in North Sulawesi Province ceased mine production in 2003 and treated the remaining stockpiled ore. PT KEM managed to produce 14.58 t of gold and 10.78 t of silver, and PT Newmont Minahasa Raya’s plant produced 3.09 t.
Indonesia was the world's seventh largest gold producer in 2003, producing 163 t compared to 158 t in 2002. Over 70% of Indonesia's production is generated as a by-product of copper mining at Grasberg and Batu Hijau, both of which reported higher production year on year.Grasberg, the world's largest gold-producing mine, yielded 98 t in 2003, an 8% increase from 2002,
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