JAKARTA - PT Bumi Resources Minerals Tbk (BRMS)'s net profit grew 77% year-on-year (yoy) in 2024 to US$ 25.13 million.

This growth is in line with BRMS' revenue performance, which reached US$ 162.34 million in 2024.

BRMS Director & Chief Financial Officer Charles Gobel said the company's financial performance in 2024 was supported by an increase in gold production and processed gold grades.

‘In addition, the increase in gold selling prices also contributed to BRMS's financial performance, which is getting brighter,’ said Charles, in a written statement received by IDNFinancials.com.

BRMS' gold sales in 2024 increased by 179% to 64,983 ounces or equivalent to 2,021 kilograms.

Meanwhile, the average selling price of gold in 2024 was at US$2,442 per ounce, up 26% from the previous year at US$1,930 per ounce.

BRMS President Director & Chief Executive Officer Agus Projosasmito said the company is also currently developing an underground mine in Poboya, Palu.

‘We hope that the underground gold mining method, which is being developed since early 2025, can start producing with higher gold grades in 2027,’ said Agus. (KR/LM)