JAKARTA (Yosefardi) – Gold producer PT J Resources Nusantara Tbk (PSAB), owned by Johan Lensa, plans to invest Rp2 trillion in gold processing plant in Gorontalo, Sulawesi.
The plant is located on the area owned by its subsidiary PT Puncak Emas Gorontalo with mining concession of 7,000 hectares.
The company will set up joint venture with rural cooperative (KUD Dharma Tani Marisa) for constructing gold processing plant with expected capacity of 100,000 troy ounces per year. This gold processing plant is targeted to commence operation in 2016.
SPAB targets to boost its gold production to 6 million tons per year, from current 70,000 troy ounces. In 2014, the company targets to produce 200,000 troy ounces.
SPAB had last month signed US$275 million loan facility with Indonesia Eximbank, Qatar National Bank, Bank QNB Kesawan, Bank Permata, and Bank ICBC Indonesia. This four-year facility will be used to refinance outstanding loans from CIMB-Niaga and Eximbank and development of Bakan and Seruyung gold mines in Indonesia and Penjom mine in Malaysia.