IGO to record impairment against nickel assets in strategy shift
IGO has been undertaking a strategic review in an attempt to revaluate its resources.
Arc Exploration Limited (ASX:ARX), an Australian gold mining exploration company with presence in Indonesia, has had its gold permit for the Bima gold prospect temporarily suspended due to the controversial dead of two protesters on Christmas Eve, in the area covered by Arc’s exploration license.
Arc and its Indonesian exploration partner, PT Sumber Mineral Nusantara (PT SMN), said they remain in full compliance with all legal and regulatory license requirements and will continue to seek a resolution to the current situation.
The company’s secretary Andrew Cooke, said that while the company regrets the loss of life and injury that was suffered during December’s events, “ARX’s activities and staff have no connection with the port of Sape, and any suggestion that ARX was involved with Saturday’s events at Sape is incorrect.”
Indonesian environmentalist group Walhi said about 700 police attacked just 350 protesters ”without any prior warning shots” at Sape port. In a detailed account of the incident, Walhi said that the civilians ran and scattered without fighting, but that they were still being shot at.
Arc Exploration said it would promptly update the market with any material information as it comes to hand.
