J Resources obtains final approval for acquisition gold mine Malaysia

By Romel S. Gurky

IDX-listed gold mining firm PT J Resources Asia Pasifik Tbk said on Wednesday it has finally obtained approval from the local state government for the acquisition of a 600-ha gold mine in Pahang, Malaysia.

The company said in a statement that the local authority has approved the mining license for the gold mine specifically located in Sungai Terungun area, Mukim Telang, Daerah Lipis.

?The company in the near future will start exploration activity for a mining plan targeted to be implemented in early 2017,? J Resources said in the statement.

The Pahang mine is the company?s second gold mine in Malaysia. J Resources, through subsidiaries J Resources GOLD (UK) and J Resources Netherland BV, operates the Penjom gold mine, also located in Pahang.

In Indonesia, J Resources also operates Bakan and Lanut Utara gold mines in North Sulawesi province, and Seruyung mine in North Kalimantan. Last year, the company produced 224,850 oz of gold, largely contributed by the Bakan and Seruyung mines.

Editing by Reiner Simanjuntak