BRMS' copper and gold production drops
Wednesday, May 1 2013 - 04:29 AM WIB
It said the development of Batu Hijau site contributed to the temporary decline income to Newmont Nusa Tenggara.
The Batu Hijau mine site is expected to ramp up production upon the completion of phase 6 development.
The company said that despite this temporary production drop, throughout the year 2012, BRMS showed operational progress in such projects as the Dairi Prima's zinc and lead concession secured the underground mining approval from the government and the Gorontalo Mineral's copper and gold project reported significant JORC resource estimate of 292 million tons of ores.
BRMS is a multi-minerals mining company which is listed in the Indonesia Stock Exchange. Through its subsidiaries, BRMS owns 18% stake in NNT, 80% stake in Dairi Prima Mineral, and 80% stake in Gorontalo Minerals.
(in USD) |
Q1 2012 | Q1 2013 |
| Revenue | 7,033,636 | 6,320,054 |
| Equity in Net Income of Assoc. Company (Newmont Nusa Tenggara) | 2,188,525 | (3,779,735) |
| Interest & finance charges | (14,208,919) | (18,799,901) |
| Net Income Attributable to Owners of the Parent | 62,871 | (7,954,647) |
(in USD) |
FYE 2012 | Q1 2013 |
| Cash and restricted cash in banks | 22,430,043 | 19,767,144 |
| Loans from banks and related parties* | 476,732,871 | 495,322,713 |
| Equity | 1,457,464,586 | 1,441,101,305 |
| FYE 2012 | Q1 2013 | |
Debt to Equity**
| 0.33x | 0.34x |
| Q1 2012 | Q1 2013 | |
| NNT Copper Realized Price | US$ 4.01/lb | US$ 3.13/lb |
| NNT Gold Realized Price | US$ 1,684/oz | US$ 1,631/oz |
| NNT Copper Production (100%) | 43 millions lb | 40 millions lb |
| NNT Gold Production (100%) | 22 thousand oz | 14 thousand oz |
| *Loans from banks and related parties = [(Short Term Loan + Current maturities of long term + Long Term Loans + Due to Related Parties) **Debt to Equity = (Current Maturities + Short term loan + Long Term Loans + Due to Related Parties) / Equity |
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Editing by Adianto P. Simamora