ANTAM Builds Clean Water Facilities For The Communities Surrounding The Cibaliung Gold Project
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Jakarta, March 23rd, 2010 - PT ANTAM Tbk (ASX-ATM; IDX - ANTM), is pleased to announce its participation in the construction of the Clean Water Facilities (SAB) for the communities of Mangkualam and Padasuka villages, located near ANTAM’s Cibaliung gold mine project at Pandeglang, Banten.
The Regent of Pandeglang, Mr. Erwan Kurtubi officially opens the facilities today. The project is part of ANTAM subsidiary’s CSR program, PT Cibaliung Sumberdaya (PT CSD). PT CSD owns and develops the Cibaliung gold mine project.
The installation costs Rp1 billion and will provide clean water supply to around 300 families or 1,000 villagers.
The construction of the SAB facilities is expected to improve the quality of public health through the availability of clean water. ANTAM also hopes the construction of the facilities will create various business opportunities related to the availability of clean water supply.
The construction of SAB facilities includes the Curug Pamuga’s water catchment facilities and the installation of water purification, distribution, storage and sanitation facilities in seven locations spread throughout seven villages.
PT CSD expects the management of the facilities to be transferred to the local communities through the establishment of Clean Water Management Board.
PT CSD works together with the Center of Ujung Kulon National Park for the construction of the SAB facilities. In 2007 PT CSD signed a Partnership Charter with the Center of Ujung Kulon National Park on the conservation and utilization of Curug Pamugas water resource to benefit the communities of Padasuka and Mangkualam villages.
PT CSD is a subsidiary of ANTAM with direct ownership of 99.15%. In July 2009 ANTAM acquired PT CSD from ARC Exploration Australia (ASX: ARX).
The Cibaliung gold project has a mine life of 6 years with estimated gold reserves of around 12,800 kg (411,500 toz.). ANTAM estimates production of the Cibaliung mine to reach around 500 kg (16,000 toz.) in 2010 and to have a full production output of around 2,000 kg (64,300 toz.) beginning in 2011. ANTAM expects the first gold output in the second half of 2010.