JAKARTA – PT Bumi Resources Minerals Tbk (BRMS) targets gold production in 2025 to increase approximately 25-26% from production realisation in 2024.

Herwin Hidayat, Director of BRMS, mentioned that the company has produces around 55 to 60 thousand oz of gold throughout 2024.

“The final number will be announced by Q1 2025, along with audited full year 2024 financial report,” Hidayat told IDNFinancials.com, last Wednesday (12/2).

In the meantime, for 2025, BRMS sets gold production target to 75 thousand oz or more. This production increase is believed to be able to drive the company’s performance to grow.

“Furthermore, gold price uptrend in the past 2 years will positively affect the company’s financial performance in 2025 and 2026,” Hidayat added.

Hidayat also claimed that BRMS gold production has been mined out an open pit at Poboya Block, Palu, since 2020. This asset reportedly contains average gold grade of 1.5 gram per ton (g/t) in 2024.

Next, BRMS will start producing higher grade gold, approximately 3.5-4.9 g/t, by utilising underground mining at Poboya, starting mid-2027.

“Meaning that by the end of 2027, or early 2028, gold production of BRMS will increase quite significantly,” added Hidayat. (KR/ZH)