INDONESIA PRESS-J Resources plans to spend $163.5 mln on investment in 2014-Bisnis Indonesia

Wed Jan 8, 2014 8:08pm EST

Gold miner PT J Resources Asia Pasifik plans to spend 2 trillion rupiah ($163.5 million) on investment this year to finance its gold mine project and build smelter in Gorontalo, Sulawesi, said director Edi Permadi.

The company currently owns 7,000 hectares of land for mining in Pohuwato district, Gorontalo and expects to start producing 100,000 troy ounces of gold per year in 2016.

* Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 12,235 rupiah) (Compiled by Rin Hindryati; Editing by Anand Basu)

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