Location:	Located in North Sumatra province, Indonesia.
Mine type:	Open-pit.
Resources:	6 million ounces of gold and 60 million ounces of silver.
Current project status:	Project approval. Construction to commence in 2Q 2008.
Production forecast:	200,000oz/a gold and 2Moz/a silver
Pre-production capital:	US$310m
First production:	End of 2009
Cash cost:	US$270/oz
Initial mine life:	9 years

Overview
The Martabe project is one of the stand-out undeveloped mineral deposits in the Asian region. Oxiana became the owner of the Martabe project through the acquisition of Agincourt Resources Limited in early 2007.

The Martabe Contract of Work (CoW) covers a 2,500 km2 area. The Project is located close to existing infrastructure and facilities and is bisected by the Trans-Sumatra highway. Supplies of grid power and process water are available, and the port of Sibolga is approximately 30 kilometres from the site.

The main deposit at the Martabe project is currently the Purnama high sulphidation epithermal deposit, which was discovered in 1997 through regional stream sediment sampling by Normandy Anglo Asia Ltd. Since then other deposits have also been discovered and Resources at Martabe now stand at 6 million ounces of gold and 60 million ounces of silver.

A 5% interest in Martabe has been held in Trust for local Indonesian stakeholders.

Current project status
Following review of the recently completed Definitive Feasibility Study (DFS), Oxiana’s Board has approved development of the Martabe gold and silver project. 

Receipt of final permits from the Government of Indonesia were received in April 2008 and the Martabe project will move into construction in 2008 and then into production at the end of 2009.

Production on average will be 200,000oz of gold and approximately 2 Moz of silver per annum, from a conventional CIL plant for at least 9 years.