J-Resources to operate new smelter soon

IDX-listed gold mining company PT J-Resources Tbk is set to operate soon a new smelter at its Bakan gold mine in Bolaang Mongondow, North Sulawesi, following the operation in December of last year a smelter in Seruyung, Nunukan, East Kalimantan, Kontan daily reported Tuesday.

?The one in Bakan will (start) operating end of January,? said Edi Permadi, Vice President for Human Resources and Corporate Affairs at J-Resources, adding that the facility will have a capacity of 55,000 troy ounces per year, compared to 65,000 in Seruyung.

In addition to the two smelters, the company also owns a smelter in Malaysia, and another one in North Lanut, North Sulawesi.

Elsewhere, the paper said that the company is expected to produce about 200,000 ounces of gold this year, up significantly from 70,000 last year. (*)