J Resources to start gold production in Doup, Pani mines in 2019
Monday, December 18 2017 - 01:56 AM WIB
IDX-listed gold mining company PT J Resources Tbk aims to start production at its Pani gold mine project in Gorontalo Province, and at the Doup gold mine in North Sulawesi Province in 2019.
This was said by J Resources Director William Sunarta last week. He said that the company?s main focus next year will on the two gold mine projects.
He said that as per June of 2017, gold reserves in Pani are estimated at 502,000 oz, with resources of 1.52 million oz. Meanwhile, gold reserves in Doup are estimated at 1.51 million oz, with resources estimated at 2.59 million oz.
William said that the company is planning to enter pre-construction phase for the Pani mine project as it has completed the environmental analysis assessment (or Amdal), and has obtained the forest area borrow and use permit from the Ministry of Forestry. The company plans gold production rate of 50,000-70,000 oz per year from the Pani mine.
For the Doup mine project, the company has just completed Amdal for the oxide ore production, and is preparing Amdal for the sulfide production. The company plans gold production rate of 100,000 oz per year from the Doup mine.
J Resources operates a number of other gold 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.
As per June 2017, the company?s total gold resources are estimated at 7.95 million oz, up from 3.32 million oz in 2011. Meanwhile, reserves are estimated 3.71 million oz, up from 493,000 oz in 2011.
Editing by Reiner Simanjuntak