JAKARTA. PT Bumi Resources Minerals Tbk (BRMS) plans to start production from its gold mine in Palu, Central Sulawesi in the fourth quarter of this year following a plant commissioning and production trial run.
The initial target for production capacity is 100,000 tons per year. This number will then be increased by 80% to 180,000 tons per year in 2020 with a mine life of 7 years.
Director and Investor Relations of BRMS, Herwin Hidayat conveyed that the estimated capital expenditure spent on the Palu project was around US$ 10-15 million.
According to him, the Palu project is also a company's strategy to increase revenue. According to its financial statements, in the first semester (1H) of 2019, BRMS recorded a net income of US$ 2.96 million, 258.85% higher than the record from the same period last year of US$ 825,000.
BRMS has also managed to record a profit of US$ 932,697, while in 1H 2018, it recorded a net loss of US$ 10.72 million, Herwin was quoted as saying by Kontan.co.id, Friday (20/9). (AM/AR)