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J Resources to build two smelters in Sulawesi

JAKARTA ( – Gold miner PT J Resources Asia Pasific Tbk (PSAB) plans to build smelter plants (processing plant) in two locations in 2016, namely in Doup and Pani mining sites on Sulawesi Island.

Director of J Resources Wiliam Surnata said the two smelter plants will have capacity to process 50,000 ounce (oz) of gold per annum or 25,000 oz each, with combined investment of US$50 million.

In addition, the company is also developing a smelter plant in Seruyung with capacity of 100,000 oz per annum, with investment of US$100,000 million, Kontan daily reported.

In the nine months to September, the company posted net profit of US$29.07 million, up 139.2 percent from last year’s net profit of US$12.14 million. Revenues reached US$230.23 million, up from US$202.45 million in the same period last year.

The company expects revenues to reach US$280.17 million this year, with gold production of 237,500 oz.



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