BRMS expects mining subsidiaries to obtain required permits this year

Petromindo│Lucky

IDX-listed mining firm PT Bumi Resources Minerals Tbk (BRMS) expects three mining subsidiaries to be able to obtain required permits this year so that mining construction can start in the fourth quarter, and production to start in the first semester of 2019.

This was said by BRMS President Director Suseno Kramadibrata as reported by Kontan Saturday. ?(We?re) Still waiting (for the permits),? he told the paper.

The three mining subsidiaries are PT Citra Palu Minerals, PT Gorontalo Minerals, and PT Dairi Prima Mineral.

Citra Palu owns a gold concession in Donggala, Central Sulawesi Province, and is hoping to be able to get the required environmental impact assessment (or Amdal) permit in May of this year. The company also plans to build a copper smelter in Donggala.

Gorontalo Minerals owns a gold concession in Gorontalo Province with estimated gold and copper reserves of 105.4 million tons, and resources of 400.6 million tons.

Dairi Prima owns tin and zinc mining concession in North Sumatra Province which has estimated resources of 25 million tons with ore grade of 10.1 percent.

BRMS is optimistic that the production schedule of the three subsidiaries can be realized as they have amended their mining contracts of work with the government.

BRMS?s current source of revenue is from its coal trading subsidiary Bumi Resources Japan Company Ltd, which specifically serves the Japanese market.(*)