Citra Palu obtains construction, production permit
Friday, November 24 2017 - 12:40 AM WIB
IDX-listed mining firm PT Bumi Resources Minerals Tbk (BRMS) said that its subsidiary, PT Citra Palu Minerals (CPM), has received a construction and production permit from the Ministry of Energy and Mineral Resources.
The company said in a statement on Thursday this permit is essential to develop the company?s gold mine to be located near Palu in Central Sulawesi Province.
?The permit allows for a 3-year period for CPM to construct the mining and processing facilities. Upon construction completion, The company is fully permitted to commence production for up to 30 years, i.e. to the end of 2050,? the company said in the statement.
As previously disclosed, CPM plans to develop a conventional gold mine in the vicinity of Palu, using technologies and processes that have been successfully and safely implemented at other operations in Sulawesi, Halmahera, Sumatra, Java, Kalimantan and other locations in Indonesia. The expected ore production rate as described in the company?s approved feasibility study will be 600,000 tons of ore per annum.
BRMS said the approval of this construction and production permit will allow CPM to commence commercial production in the latter part of 2020.
Editing by Reiner Simanjuntak