Indonesian state-owned mining company PT ANTAM has established a strategic alliance with Australia’s Newcrest Mining to explore for copper and gold in several prospective areas of Indonesia.

The prospective areas include East and West Java, South Sumatra, Nusa Tenggara, North Sulawesi, Halmahera and Mollucas Islands. If the alliance partners find a significant deposit, they can pursue them through separate joint venture agreements.

Under the alliance agreement, ANTAM and Newcrest will cooperate and work together to identify and examine opportunities. They also plan to share and exchange mining information and other information in relation to the cooperation.

The alliance document was signed in front of Indonesian Minister of Trade Enggartiasto Lukita and Indonesian Head of Investment Coordinating Agency Thomas Lembong in Sydney.

ANTAM’s president director Tedy Badrujaman said, “We are pleased to strengthen our partnership with Newcrest which will take advantage of the current positive momentum of the mining industry.”

Newcrest CEO Michael Nossal commented on the company’s long partnership with ANTAM. “Newcrest has a proud exploration and operating history in Indonesia. We also have a long and successful working relationship with ANTAM in Indonesia through PT Nusa Halmahera Minerals (PTNHM) which manages the Gosowong gold mine in the North Halmahera District of North Maluku Province.

“We are hopeful that this new agreement with ANTAM will result in opportunities that will allow Newcrest and ANTAM to grow their business in the country,” he said.

Australian Ambassador to Indonesia Paul Grigson, who attended the signing, welcomed the cooperation. “The investment in both directions is recognition that both countries have a lot of potential to be offered to one another.”

Thomas Lembong described the alliance as a model for strategic partnerships between Australia and Indonesia.

ANTAM is a diversified, vertically integrated natural resources based company with nickel ore, ferronickel, gold, silver, bauxite, coal, alumina and precious metal processing and refinery services as its main business.