J Resources to build gold processing plant in Gorontalo

IDX-listed gold mining firm PT J Resources Asia Pasifik Tbk plans to spend Rp 2 trillion for the construction of a gold processing plant in Gorontalo Province, Investor Daily reported Friday.

Corporate Secretary Edi Permadi was quoted as saying that the processing plant will be located in the mining site of the company?s subsidiary PT Puncak Emas Gorontalo, which holds a 7,000-ha concession in the province.

?We?re still conducting additional drilling program (at the site),? Edi said.

He added that Puncak Emas plans to form a joint venture with a local cooperatives called KUD Dharma Tani Marisa, which holds a 100 ha gold concession to produce gold. If the plan is realized, production is targeted to start in 2016.

J Resources aims to boost gold output next year to 200,000 troy ounces, from the estimated 70,000 for this year, as the company?s other gold mines in Bakan (North Sulawesi), Seruyung (North Kalimantan), and Penjom (in Malaysia) will start production. (*)