Unrest tarnishes drive to tap Indonesian gold wealth

When Hong Kong-listed G-Resources Ltd opened its US$1 billion Indonesian gold mine in July, six months behind schedule, it had high hopes it would be hitting its annual output target of 250,000 ounces by next year.

Less than three months later the company halted operations after hundreds of protesters blocked the entrances to the Martabe mine, in the north of Sumatra island, in a dispute over the installation of a water discharge pipe.

It began laying off the 2,000-strong workforce at the mine, the company’s sole asset, this week.

via Business feed http://www.scmp.com/business/economy/article/1052960/unrest-tarnishes-drive-tap-indonesian-gold-wealth