Borneo triples gold production capacity at Ratatotok mine
Tuesday, September 30 2014 - 04:18 AM WIB
US firm Borneo Resource Investments Ltd, a mining company that mines gold and develops producing gold mining properties in Indonesia, announced Tuesday it has completed building its second processing area to extract gold from ore at its Ratatotok complex in Southeast Minahasa Regency, North Sulawesi Province.
The company said in a statement that it has also commenced production at this new heap leach processing area which has the capacity to process 5,000 metric tons of ore per month.
The company's Ratatotok complex previously had one heap leach processing area that was already operating at full capacity processing 2,500 metric tons of ore per month. With an increase of its production capacity to a monthly total of 7,500 metric tons of ore, Borneo has tripled gold production capacity at its Ratatotok site to approximately 7 - 10 kilograms (245 - 350 ounces) of gold per month.
"This additional capacity enables us to leverage our operations at Ratatotok for a relatively small investment. The technology and low environmental impact of the heap leaching process enables us to scale up production capacity incrementally with minimal requirements for additional labor and materials," stated Borneo CEO, Nils Ollquist.
"We intend to continue to acquire high ore-grade properties adjacent to our existing operations as we scale up production and cash flow from operations. We anticipate this added capacity will increase the momentum in our current revenue and gross profit growth," Ollquist concluded.
Editing by Reiner Simanjuntak