Dairi Prima goes underground in protective forest
Wednesday, July 25 2012 - 06:35 AM WIB
Indonesian miner PT Dairi Prima Mineral, an 80 percent subsidiary of IDX listed PT Bumi Resources Minerals Tbk (BRMS) and 20 percent affiliated company of IDX listed Aneka Tambang Tbk, has recently obtained borrow-use permit (IPPKH) for a planned zinc and lead underground mining activity to be conducted within protected forest area in Dairi regency, North Sumatra.
The permit was stated within the Decision Letter of the Forestry Minister of Indonesia No.SK.387/Menhut-II/2012 dated July 23, 2012.
?We will immediately initiate the mining activity by first constructing the support facilities," BRMS Corporate Secretary Muhammad Sulthon said in a statement submitted to the Indonesian Stock Exchange today.
The company targets to produce 115,000 tons of zinc and 60,000 lead per annum starting 2014
The permit covers 53.11 hectare area, which principal permit was obtained back in 2011.
The company previously obtained up to US$100 million worth of loan commitment from a foreign bank to partially finance the mining activity, which base mine plus processing plant investment is expected to reach up to US$ 300 juta.
Editing by Audy Zandri