This Is The Plan Of A Mining Company Owned By Aburizal Bakrie Conglomerate After Receiving IDR 1.6 Trillion In Funds From A Rights Issue

Illustration. (Photo: Pixabay)

JAKARTA - The mining company, PT Bumi Resources Minerals Tbk (BRMS) has obtained funds of IDR 1.6 trillion from the implementation of PMHMETD (Capital Increase with Pre-emptive Rights) or a rights issue.

This subsidiary of PT Bumi Resources Tbk (BUMI) said that all shareholders registered in the Company's Shareholders Register as of March 30, 2021 (cum date) have exercised their rights to purchase new shares issued in this PMHMETD. Thus, the number of BRMS shares increased to 93.9 billion shares.

President Director of BRMS, Suseno Kramadibrata said that the successful implementation of this PMHMETD indicates the trust of shareholders in the company.

"As previously stated, we allocated around 23 million from the PMHMETD proceeds to drill several gold prospects in Poboya, Palu (Sulawesi)", said Suseno in a written statement, quoted on Wednesday, April 21.

In the future, the drilling is expected to generate an additional 15 to 20 million tons of gold ore reserves and resources in the area. Then the results of this drilling will be submitted in the fourth quarter of 2021 and then in the second quarter of 2022 next year.

He also conveyed that USD 5.25 million from PMHMETD proceeds will be used to drill several gold prospects and to develop a gold mine site in Motomboto, Gorontalo (Sulawesi).

Then, the company owned by the Aburizal Bakrie family will also use around USD 48 million from PMHMETD proceeds to build a gold ore processing plant with a capacity of 4.000 tons of ore per day in Poboya, Palu. The construction of the plant will begin in mid-2022 and is expected to be completed and operational in the first quarter of 2024.

Meanwhile, the company is completing the construction of another processing facility to increase the current processing capacity from 500 to 4.500 tons of ore per day in Poboya, Palu, which is expected to start operating in the second quarter of 2022.