JAKARTA – PT Bumi Resources Minerals Tbk (BRMS) is in the final stages of securing a loan facility to fund the development of its underground mining project.

Herwin Wahyu Hidayat, Director of BRMS, confirmed that the loan finalisation process is still ongoing. "The estimated amount is USD 200–300 million. The finalisation of the loan facility is currently in progress," Herwin told IDNFinancials.com on Thursday (27/2).

BRMS will use the loan facility to fund the gold mining project at Poboya, Palu, operated by its subsidiary, PT Citra Palu Minerals (CPM).

CPM is already running an open-pit mine in Poboya, with an average gold content processed in 2024 of around 1.5 grams per tonne.

The underground mining project of CPM is scheduled to commence operations in the second half of 2027. This mining method is expected to yield higher gold grades.

"This means that by the end of 2027 or early 2028, BRMS’s gold production will increase significantly," Herwin stated. (KR/ZH)