JAKARTA. PT Bumi Resources Minerals Tbk (BRMS) is optimistic that gold production this year could surpass 55 thousand troy ounce, much higher than what has been previously set this year, at 35 thousand troy ounce.

For the first nine months (9M) of 2024, BRMS's gold production volume had been reported reaching 45,336 troy ounce which is already 29.6% above the gold production target this year.

BRMS's robust gold production in 9M 2024 was driven by its second gold refining facility in Palu, Central Sulawesi, which has reportedly reached full capacity last April.

With the latest discovery of higher gold content in BRMS's mine in Proboya, Palu, the company gains optimism in its gold production for the next two years, as revealed by Herwin Hidayat, Director and Chief Investor Relations Officer of BRMS.

"[Projection] for 2025, it will be over 70,000 troy ounce, in 2026, over 85,000 troy ounce," Hidayat told IDNFinancials.

Recently, President Director and CEO of BRMS also said that the company expects underground mineral reserves mining in Proboya to commence soon. PT Citra Palu Minerals (CPM), the subsidiary of BRMS managing work contract in Proboya, has reportedly assigned PT Macmahon Indonesia as mining contractor. (KR/ZH)