Wilton Resources inks framework agreement with Chinese mining firm

To develop a gold facility in Indonesia.

Wilton Resources, a gold exploration and mining group, announced that it has entered into a non-binding framework agreement with Chinese minerals and mining group, Yunnan Chihong Resources Exploration & Development Company.

The agreement covers a potential investment and/or co-operation between the two companies in the development of Wilton’s Ciemas Gold Project in West Java, Indonesia.

The agreement outlines areas of the potential investment and/or co-operation including the development and construction of a mining, processing and smelting facility, and the exploration of Wilton’s mining permit area; and (iii) an equity investment by Yunnan Chihong. 

Both Yunnan Chihong and Wilton have a period of about 100 days from the date of the Agreement to finalise the terms and conditions for the investment and/or co-operation.