- Business
- PT Bumi Resources Minerals Tbk (BRMS.JK) is an Indonesia-based multi-minerals mining company focused on the exploration, development, and operation of non-coal mineral properties, including copper, gold, zinc, lead, and iron ore. The company operates through three main segments: Investments, involving share investments, funding, trading, and financing activities; Holding Company, for joint capital setup in mine development; and Mining and Services, encompassing mining advisory, marketing services, and extraction of base and precious metals under various exploration and development stages. Its core assets and subsidiaries include PT Citra Palu Minerals (CPM) with a gold and molybdenum project in Poboya, Central Sulawesi, featuring a River Reef open-pit mine and underground development; PT Dairi Prima Mineral (DPM) holding zinc and lead resources in Dairi, North Sumatra; PT Gorontalo Minerals (GM) with copper and gold concessions in Bone Bolango, Gorontalo; and PT Linge Mineral Resources (LMR), in which BRMS holds a 60% stake for exploration in Aceh Province; additional interests encompass stakes in Newmont Nusa Tenggara's copper-gold project on Sumbawa and select iron ore, gold, and diamond projects in West Africa. Founded in 2003 as PT Panorama Timur Abadi and acquired by PT Bumi Resources Tbk in 2009 with a subsequent name change, the company is headquartered at Bakrie Tower, 6th and 10th floors, Kompleks Rasuna Epicentrum, Jakarta, Indonesia, and primarily targets industrial and precious metals markets across Indonesia with selective international exposure. Recent developments include plans for a US$600 million syndicated loan with foreign and local banks to fund underground mining expansions, a 1,000 tons per day ore processing plant in Gorontalo, and enhanced exploration activities, with initial drawdown targeted by late 2025 to accelerate gold production commencing mid-2027; a pushback project at the Poboya River Reef mine initiated in Q2 2025, alongside CIL plant expansion to 2,000 tons per day by October 2026; and strategic inorganic growth pursuits, including openness to acquisitions for profit-accretive assets, mirroring parent company Bumi Resources' moves such as the Rp350 billion acquisition of Wolfarm Limited in Australia.