Key takeaways from the meeting - Ciptadana
A diversified mineral mining company with high-quality mineral Established in 2003, BRMS is a diversified mineral mining company that has three different assets with abundant high-quality minerals. The three assets mentioned are : 1) Citra Palu Minerals, in Central Sulawesi (gold and silver mines), Gorontalo Minerals, located in Bone Bolango Regency, Gorontalo Province (copper & gold mines), and Dairi Prima Mineral, located in Dairi, North Sumatera (zinc and lead mines). BRMS’ assets are mostly in stage of construction/development with Citra Palu Minerals gold mine is in nearly production stage.
Citra Palu Minerals (CPM) BRMS owns 96.97% of CPM while the mine is regulated under a contract of work (COW) with a total concession area of 85,180 hectares. CPM’s Poboya Project has ore reserves of 3.9 mn tons ore with 5.38 gr/ton Au (certified by KCMI, the Indonesian Code for Reporting of Exploration Results, Mineral Resources and Mineral Reserves). The company has already gold processing machines that use CIS (“carbon-in-leach system”) in place. CPM plans start mine commissioning in October 2019 and gold production in November 2019. The refining process will be carried out at PT Antam’s smelter in Jakarta. CPM will initially produce 100,000 tons ore per annum (under ex-leached pad system) for 6 years starting in November 2019. For the second stage, BRMS will produce 80,000 tons ore under open casts system starting in 2H20.
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