Borneo Resource Investments, a company that mines gold and develops producing gold and coal mining properties in Indonesia, has completed building its second processing area to extract gold from ore at its Ratatotok complex. The company has also commenced production at the new heap leach processing area which has the capacity to process 5000 tonnes of ore per month.
The Ratatotok complex previously had one heap leach processing area that was already operating at full capacity, processing 2500 tonnes of ore per month. With an increase of its production capacity to a monthly total of 7500 tonnes, Borneo has tripled monthly gold production capacity to 7-10kg (245-350 ounces) of gold.
“This additional capacity enables us to leverage our operations at Ratatotok for a relatively small investment. The technology and low environmental impact of the heap leaching process enables us to scale up production capacity incrementally with minimal requirements for additional labour and materials,” says Borneo’s CEO Nils Ollquist.
“We intend to continue to acquire high ore-grade properties adjacent to our existing operations as we scale up production and cash flow from operations. We anticipate this added capacity will increase the momentum in our current revenue and gross profit growth.”
Borneo’s current assets include four gold properties, two of which are producing gold. Cash flow-producing investments in gold properties help fund Borneo’s operations and investments in gold, while the company develops high value, longer-term investments in thermal coal concessions. It currently has one coal concession in the Kalimantan region of Indonesia.