Indonesia's gold production down nearly 22% in 2002, and 90% by 2005
Indonesia's 2002 gold production is expected to fall 21.7% short of last year's total, and is expected to drop around 90% by 2005, as ore reserves dwindle due to a lack of new exploration and numerous on-hold mining projects. The Indonesian Mining Association ( IMA ) is forecasting production of 1.18Moz in 2002 and only 129,700oz in 2005, versus 1.51Moz in 2001. Further to the above, members are advised that the US Embassy in Jakarta has produced some very informative reports ( see hereunder ) on the mining industry in Indonesia, and these can be accessed via their web site at: http://www.usembassyjakarta.org/econ/recent-reports.html MARCH MINING UPDATE: NICKEL AND ALUMINUM Indonesian Mining Sector -- Mixed News Indonesian Mining Investment - Not Such a Rosy Picture
