Project Update Gold

TWO J RESOURCES MINING

PT J Resources Asia Pacific Tbk’s two mines are ready to produce gold in the next two years. The two mines are located in Doup, North Sulawesi, and Pani, Gorontalo.

The company targets the Doup mine to start production in the second half of 2020. While for the Pani mine in mid 2021 later.

In preparation for production at the Doup mine, the investment is US $ 130 million. In mid-2020, this mining area can produce with a target of 2.5 million tons of ore per year.

Meanwhile for Pani mine, J Resources is currently applying for permission to carry out further feasibility tests. Because they found an increase in the amount of gold reserves in the mine area. When operating, the production target of the Pani mine reaches 1.8 million ore per year. Until now, the company has issued an investment of US $ 60 million for the Doup region and US $ 50 million for Pani.

In addition to investment funds for the development of the two gold mining areas, J Resources also allocates US $ 20 million per year for exploration in all of their mines.

In addition to the development of the Doup and Pani mines, next year the company that was established in 2002 has a plan to increase the added value of the rock that they cannot yet commercialize. The method is by roasting the project for the Penjom area mine and agglomerator project for the Bakan mine.

 

ANTAM CAPITAL EXPENDITURE OF RP 3.4 TRILLION

PT Aneka Tambang Tbk (ANTM) budgeted capital expenditure of Rp 3 4 trillion to support expansion next year.

It has several projects to be worked on and completed in a few years. For example, plans to build a Blast Furnace Nickel Pig Iron (NPI) Plant in East Halmahera, construction of a smelter grade alumina refinery (SGAR) in Mempawah, West Kalimantan, and a nickel smelter development project with a stainless steel production plan in Sorong, Papua.

The value of capital expenditures for the SGAR project reached US $ 850 million, and the NPI Blast Furnace project investment was US $ 350 million. Meanwhile, Antam is currently in the finalization stage of the downstream project with stainless steel product plans, the investment value is US $ 1 billion.

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