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Macmahon Advances Service Agreement for Batu Hijau
Macmahon and PT Amman Mineral Nusa Tenggara (AMNT) have signed a binding agreement for mining services for the Batu Hijau copper-gold mine in Indonesia. The alliance-type agreement exchanges shares of Macmahon for one of the largest mining fleets in Indonesia. The agreement includes cost-plus payments with upside and downside sharing over the 14-year life-of-mine plan with the potential to extend the scope of work to include significant future development options. Macmahon has successfully operated in Indonesia since 2008 with existing projects at Martabe and Lhoknga, and sees this deal as a game changer for the company. AMNT acquired an 82.2% interest in Batu Hijau in late 2016 from Newmont and Sumitomo. The mine is a large, open-pit, porphyry deposit located on Sumbawa Island, Indonesia. It's the second largest copper-gold mine in Indonesia behind Grasberg.
Macmahon Advances Service Agreement for Batu Hijau
Macmahon and PT Amman Mineral Nusa Tenggara (AMNT) have signed a binding agreement for mining services for the Batu Hijau copper-gold mine in Indonesia. The alliance-type agreement exchanges shares of Macmahon for one of the largest mining fleets in Indonesia. The agreement includes cost-plus payments with upside and downside sharing over the 14-year life-of-mine plan with the potential to extend the scope of work to include significant future development options. Macmahon has successfully operated in Indonesia since 2008 with existing projects at Martabe and Lhoknga, and sees this deal as a game changer for the company. AMNT acquired an 82.2% interest in Batu Hijau in late 2016 from Newmont and Sumitomo. The mine is a large, open-pit, porphyry deposit located on Sumbawa Island, Indonesia. It's the second largest copper-gold mine in Indonesia behind Grasberg.
Macmahon Advances Service Agreement for Batu Hijau
2017
Aufsatz (Zeitschrift)
Englisch
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