J Resources: Gold output jumps to 220,000 oz

By Romel S. Gurky

IDX-listed gold miner PT J Resources Asia Pasifik Tbk announced Tuesday that gold production last year reached more than 220,000 ounces, more than doubled the 100,000 oz output in 2013.

The realized 2014 output was also higher than the initial production target. The higher production had been anticipated as the recently operated Bakan mine in North Sulawesi and Seruyung mine in East Kalimantan have provided significant additional output. The company also operates producing gold mines in Penjom, Malaysia, and Bolaang Mongondow, North Sulawesi.

J Resources, through its subsidiary PT Puncak Emas Gorontalo (PEG), partners with local village cooperatives KUD Dharma Tani Marisa, is conducting explorations at the Gunung Pani gold concession in Pohuwatu Regency, Gorontalo Province. However, Australia?s One Asia Resources Ltd claimed it was the rightful partner of the KUD in developing the gold mine.

Editing by Reiner Simanjuntak