JAKARTA - PT Bumi Resources Minerals Tbk (BRMS) is looking for a loan facility to fund the underground mine construction in Palu, Central Sulawesi.

In the information disclosure quoted Monday (2/12), Charles Gobel, Director of Finance of BRMS confirmed that the loan facility will be utilised in 2027.

“We project to be able to process ores with higher concentration of gold from our underground mine in Palu by the end of 2027,” Gobel added.

BRMS, through its subsidiary, PT Citra Palu Minerals (CPM), registers concession land of 85,180 hectares (Ha) in Central and South Sulawesi. The land was divided into several blocks, namely Paboya, Winehi, Roto, Anggasan, and Muotong.

The first Carbon-in-Leach (CIL) facility for gold ore refinery has operated since Q1 2020, recording capacity of 500 ton per day, whereas the second gold-refining CIL facility began operation in early 2023, reporting production volume of 4,000 ton per day. The third one was recently concluded in Q3 2024, with additional production volume of 4,000 ton per day as well.

For the record, BRMS booked 231% year-on-year (yoy) surge in its revenue to USD 108.47 million in Q3 2024 from USD 32.74 million in Q3 2023. As a result, its net profit also jumped 54% yoy to USD 16.43 million from USD 10.64 million. (LK/ZH)