HONG KONG, July 26 (Xinhua) -- Hong Kong-listed gold producer G- Resources on Monday signed a mining services contract worth 150 million U.S. dollars with PT Leighton, a subsidiary of Australian Leighton Holdings, over G-Resources' Martabe project in Indonesia.

The initial term of the mining services contract was 65 months starting from Aug. 1 this year, and PT Leighton would provide mining services to G-Resources to carry out the mining operation at Martabe, according to the agreement.

It was estimated that the mining operation at optimized level would be at least 10 million tons per annum, it said.

The Martabe project is located on the western side of the island of Sumatra. It has a mineral resource of 6.5 million ounces of gold and 66 million ounces of silver, according to G-Resources.

Gold production at Martabe is expected to start in the last quarter in 2011, at a rate of 250,000 ounces of gold and two to three million of ounces of silver, said the company.

Shares of G-Resources closed at 0.375 HK dollars (4.8 U.S. cents) in the Hong Kong stock market, up 5.6 percent. (Liu)