BRMS income from Newmont drop
Tuesday, April 2 2013 - 06:19 AM WIB
"This is due to the temporary copper and gold production drop at the Batu Hijau mine site as a result of the on-going development of the phase 6," the company said in its 2012 financial and operational results on Tuesday.
However, it said once the phase 6 is completed, NNT is expected to increase its outputs significantly in the second half of 2013.
Some notable operational progresses in its projects throughout the year 2012 include the securing of exploitation permit via underground mining for its Dairi Prima Mineral's zinc and lead project (North Sumatera) in July 2012.
Newmont's Head of Asia Pacific has also informed the audience at a Mining Conference in Australia in August 2012 that its NNT's Elang mine site's prospect could have a larger deposit than its Boddington mine's reserves of 19.5 million oz of gold and 2.2 billion lb of copper.
BRMS has also reported the JORC standardized resource estimates of 292 million tons of ores (0.5% Cu; 0.47 g/t Au) from its Gorontalo Mineral's copper and gold project (Sulawesi) in September 2012.
BRMS owns effectively 18 percent stake in NNT's copper & gold project, 80 percent stake in Dairi Prima Mineral's zinc & lead mine, and 80 percent stake in Gorontalo Minerals' copper & gold concession.
Editing by Er Audy Zandri