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Dairi Prima to invest $180m
Despite unresolved permit problems, PT Dairi Prima Mineral, a local unit of Australian-based zinc and lead producer Herald Resources, said Tuesday it planned to spend US$180 million for initial exploration activities at its North Sumatra mine
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Despite unresolved permit problems, PT Dairi Prima Mineral, a local unit of Australian-based zinc and lead producer Herald Resources, said Tuesday it planned to spend US$180 million for initial exploration activities at its North Sumatra mine.
Dairi office manager Junjungan Harahap told The Jakarta Post the company had so far spent $50 million to develop infrastructure and road access.
The company has two concession areas -- Anjing Hitam and Laezahe -- with a combined reserve of 14 million tons of lead and zinc.
Junjungan estimates that with such reserves the exploitation period will last 15 years.
He also said he hoped the company would be soon able to secure all required permits from the government to carry out the mining activities, which are located in forestry areas.
Dairi is 80 percent owned by Herald and 20 percent owned by state mining company PT Aneka Tambang (Antam).
Herald has been in the spotlight recently over a buy-out offer from Antam and PT Bumi Resources, the country's largest coal producer.
