G-Resources to boost gold production

PT Agincourt Resources, a subsidiary of Hong Kong-listed G-Resources Group Limited, aims to increase gold and copper production this year in a bid to maintain revenue performance amid the lingering weak commodity prices, Kontan reported on Monday.

?We will increase production above the capacity of our processing facility,? Agincourt Senior Manager for Corporate Communications Katarina S. Hardono told the paper.

The company initially planned to produce gold and copper in line with its existing processing facility in the Martabe mine in North Sumatra, which has production capacity of 250,000 ounces of gold, and 2 million ounces of copper, respectively.

But the company has now decided to push production higher, even higher than last year?s gold output of 281,477 ounces, and copper output of 1.5 million ounces.

Katarina did not provide further details on the strategy to boost production. (*)