Bumi Resources Minerals, A Company Owned By The Conglomerate Aburizal Bakrie, Earns IDR 88 Billion In Revenue And IDR 52 Billion In Profit

Illustration. (Photo: Pixabay)

JAKARTA - PT Bumi Resources Minerals Tbk (BRMS) recorded performance growth in the first half of 2021. The mining company's revenue and net profit rose significantly in the first six months of this year.

In the BRMS financial report published on the Indonesia Stock Exchange website, quoted on Friday, August 13, the net profit of the company owned by conglomerate Aburizal Bakrie reached USD 3.63 million (around IDR 52 billion) in the first semester of 2021. This number rose 280.31 percent compared to the company's net profit in the first half of 2020 which was only USD 955.388.

The surge in net profit is in line with Bumi Resources Minerals' revenue which also shot to USD 6.12 million in the first semester of 2021. This realization jumped 140 percent compared to the same period in 2020, where BRMS' revenue was only USD 2.55 million.

Apart from being supported by a significant increase in revenue, the surge in BRMS' net profit was also due to the company's success in scoring an operating profit in the first six months of this year of USD 1.59 million. In the first semester of 2020, BRMS still recorded an operating loss of USD 688.321.

The majority of BRMS's revenue, or around 60 percent of its revenue, comes from selling gold products to buyers including PT Aneka Tambang Tbk and PT Bhumi Satu Inti. Meanwhile, the remaining 40% or around 40% comes from mining advisory services to Bellridge Holdings Limited.

For this year, BRMS is also still focusing on building a gold ore processing plant. The company targets the factory to be completed in May 2022.

"This new plant will have the capacity to process up to 4.000 tonnes of ore per day. This will significantly increase our gold production volume in the second half of next year. Currently, we are still producing gold from the first processing plant with a processing capacity of around 500 tons of ore per day since the beginning of 2020", said the President Director of BRMS, Suseno Kramadibrata, in a written statement.