J Resources says heavy rain hampers gold production

By Thomas Sembiring

IDX-listed gold mining firm PT J Resources Tbk said that gold output in the January-May period of this year reached around 70,000 oz, or only about a third of its annual production rate of around 200,000 oz.

?As per end of last month, output was about 70,000 oz,? said William Surnata, Finance Director of J Resources on Thursday.

He said that the slower production was attributed to the heavy rainfall during the period.

J Resources operates a number of coal mines in Indonesia and Malaysia. About 84 percent of the company?s annual production has been contributed by the Bakan gold mine in North Sulawesi, and the Seruyung mine in North Kalimantan. The remainder comes from the Penjom mine in Malaysia. Other mines have yet to enter production stage. J Resources exports its gold output to Australia and Singapore.

Editing by Reiner Simanjuntak