7 Nov 2007

Mining company excited by copper and gold prospects in Indonesia's Papua

12:10 pm on 7 November 2007

A new British mining company says the copper and gold prospects it is exploring in Indonesia's Papua could help form the foundation to the company's development.

Williamson Minerals, which was formed last year, has a 95 percent stake in a 72,000 hectare concession near the giant Freeport McMoran-operated Grasberg mine.

Grasberg is the most profitable gold mine in the world

Williamson's concession is a mineral trend running from from the Grasberg deposit through to two main targets, the Tsinga and Mamoa prospects.

The company's chairman, Chris Williamson, has confirmed the area's gold and copper potential appears massive.

"It's very very exciting and it's good, it's a good place to be.There's nothing really final at the moment. We've got a license but we don't want to divulge that much of it because there's all kinds of people who want to try and get it on in the area. You know, we are doing some stuff there. We aren't developing yet but we hopefully... but how long it's going to take, I don't know."

Chris Williamson