BRMS unit obtains operating license to develop Gorontalo gold mine

IDX-listed PT Bumi Resources Minerals Tbk (BRMS) announced on Tuesday that its subsidiary PT Gorontalo Minerals (GM) has obtained an operating license from the Ministry of Energy and Mineral Resources which is required by the company to be able to develop and operate its gold and copper mine in Gorontalo Province.

BRMS said in a statement that the operating license gives GM a three-year period for completing construction work, and (after construction is completed) another 30 years for operation and production through 2052.

“Initially, GM was expected to be able to start production in the second semester of 2021 with average production volume of 1 million tons of ore per year. But we’re reviewing the possibility of starting production sooner from some part of the reserves through head leaching procedure,” said BRMS Director Suseno Kramadibrata in the statement.

BRMS controls 80 percent interest in GM, while the remaining 20 percent is held by IDX-listed mining firm PT Aneka Tambang Tbk (Antam).

GM currently operates a 24,995-ha concession in Bone Bolongo Regency, Gorontalo Province, under a mining contract of work.

GM’s mines are located in several areas including Sungai Mak, Cabang Kiri, Motomboto North, Motomboto East, and Kayu Bulan, with estimated resources of 400 million tons of ores with purity of 0.48% Cu and 0.43 g/t Au. Estimated reserves in Sungai Mak is 105 million tons of ores with purity of 0.7% Cu and 0.33 g/t Au.

 

Editing by Reiner Simanjuntak