BRMS reports third quarter loss of $345.89m

IDX-listed mining firm PT Bumi Resources Minerals Tbk (BRMS) turned into the red in the third quarter of this year with a net loss of US$345.89 million compared to a net profit of $8.52 million in the corresponding period of last year.

The company said in a report on Friday that revenue in the third quarter of this year dropped by 76.32 percent to $2.17 million from $9.17 million in the same period of last year.

BRMS also reported that it has sold its entire shares in gold and copper mining firm PT Amman Mineral Nusa Tenggara, formerly known as PT Newmont Nusa Tenggara, to PT Amman Mineral Internasional.

Editing by Reiner Simanjuntak