A subsidiary of PT Bumi Resources Minerals Tbk (BRMS), namely PT Citra Palu Minerals (CPM), received positive drilling results from its gold mining project in the Poboya Block (Block 1), Palu, Sulawesi.
CPM has discovered additional mineral resources from the Palu project. This makes the total mineral resources increase from the previous 17.8 million tons to 21.7 million tons, with an average gold grade of 2.4 g/t.
Furthermore, the mineral resources in the Poboya Block (Block 1) were also successfully increased to a total mineral reserve of 14.2 million tons of ore with a grade of 2.4 g/t Au. Previously, CPM had mineral reserves of 8.5 million tons of ore.
Agus Projosasmito, President Director of BRMS, said that the addition of mineral resources and mineral reserves will extend the production life of the BRMS gold mine project in Palu.
"This is expected to add value to shareholders," Agus explained in an official statement submitted to Kontan.co.id, Monday (29/8). Agus added that the construction work of the second gold factory owned by BRRMS in Palu was going quite well. He hopes the factory can start operating in the fourth quarter of 2022 in order to increase BRMS gold production.