KBK to ramp up gold production by 10,000 ounces
Thursday, February 20 2014 - 02:38 AM WIB
By Tri Subhki R
PT Kasongan Bumi Kencana (KBK), a gold mining company, is expected to ramp up its production by 10,000 ounces to 70,000 ounces of gold in 2014.
"We produced 60,000 ounces of gold last year," KBK's Technical Manager Peter Papacharalambous said to Petromindo.com on Tuesday.
KBK sells its gold to PT Aneka Tambang (Antam) Tbk as the new regulations have banned non-refined gold exports since January 12, 2014. The mine, located in Central Kalimantan, also has suplhur content but unfortunately the market cannot absorb the sulphur. "Even Antam is overstock," Papacharalambous said.
Editing by Reiner Simanjuntak