PUBLICLY listed PT J Resources Asia Pacific Tbk has secured US$275 million in loans from a syndication of local and foreign banks with which it intends to boost mining operations in Indonesia and Malaysia. The company aims to almost double annual gold production from 103,000 ounces to about 200,000 in 2014.
A SURFACE mapping and soil sampling program is under way at Elysium Resources’ Malang project in East Java. The program to be carried out by Elysium’s Indonesian partners, PT Gata Sumbar Daya, entails reconnaissance mapping over the entire 10sqkm lease with more detailed project-scale mapping over the four identified prospects seeking copper-gold.
METALLURGICAL coal group Cokal Limited has received a conditional proposal for a debt financing facility of US$150 million from an international consortium including Platinum Partners. The company says the facility will initially be used to fund development of the 2 million tonne/annum Bumi Barito Mineral (BBM) Project.
CHINA Shouguan Mining Corporation, a US-listed gold mining, exploration and advisory company with operations in Shandong province, is conducting extensive exploration on two major veins at the Cunli-Ji (CJ) project. Sixteen drill sites at Cunli-Ji were found to contain gold and the company will release a formal exploration report once complete.