BRMS Completes Access Development for Poboya Underground Gold Mine

PT Bumi Resources Minerals Tbk (BRMS) is accelerating the development of its underground gold mine in Poboya, Palu, Central Sulawesi, following the completion of the mine access portal. According to Kabarbursa on September 16, 2026, the company aims to increase processing capacity and gold production to support its performance in 2027 and 2028.

BRMS President Director and Chief Executive Officer Agus Projosasmito said the completion of pushback operations at Poboya in July is expected to boost gold production from its open-pit mine in the second half of 2026.

"We are very pleased with our operational progress. Despite macroeconomic factors that may affect gold prices and demand in the domestic market, we believe BRMS's fundamentals remain strong. Pushback operations at Poboya, Palu, were successfully completed last July. As a result, gold production from our open-pit mine is expected to increase in the second half of 2026," Agus said in a written statement.

Agus added that increased processing capacity and the availability of high-grade ore from the underground mine are key components of the company's production growth plans over the next two years.

"The newly constructed gold processing plant, with a capacity of 2,000 tonnes per day, along with high-grade ore from the underground mining area, will enable us to continue increasing gold production in 2027 and 2028," Agus said.

According to project data released by BRMS, its subsidiary PT Citra Palu Minerals (CPM) has developed more than 975 meters of underground tunnels extending from the mine access portal. The tunnels have reached a depth of approximately 140 meters below the surface.

The first ventilation facility has been completed, while the second remains under construction and is scheduled for completion in the first half of 2027. Once the supporting infrastructure is in place, CPM aims to begin mining gold ore grading more than 3.2 grams per tonne by mid-2027.

BRMS also targets the completion of its processing plant expansion, increasing capacity from 500 to 2,000 tonnes of ore per day, by early 2027. The expansion forms part of the company's broader development plan for underground gold mining operations at Poboya.

In exploration activities, another BRMS subsidiary, PT Gorontalo Minerals (GM), is operating four drilling rigs at the Cabang Kiri East copper prospect in Gorontalo, Sulawesi. The company plans to increase the number of drilling rigs to seven in 2027, deploying them across three mining sites.

GM expects to announce its copper mineral resource results in the first half of 2027, marking further progress in BRMS's exploration activities beyond the Poboya gold project.

Financially, BRMS recorded revenue of USD 95.79 million in the first half of 2026, down from USD 120.84 million in the same period a year earlier. The company reported net profit of USD 13.28 million for the six-month period.

Gold sales during the first six months of 2026 totaled 21,091 troy ounces, equivalent to 656 kilograms, at an average selling price of USD 4,400 per troy ounce. Meanwhile, silver sales reached 44,258 troy ounces, or 1,377 kilograms, at an average price of USD 67.44 per troy ounce.

In the second quarter of 2026, BRMS faced challenges in domestic gold sales due to oversupply and discount requests from local buyers. These conditions limited sales to approximately 70% of the company's total gold production during the period.

According to the company, the issue has been addressed through a sales agreement between PT Citra Palu Minerals and PT Aneka Tambang Tbk (ANTM), effective from late June 2026 through June 2028. The agreement is intended to secure buyers for the majority of monthly gold production at competitive prices.

The completion of pushback operations at the River Reef site is also expected to support a recovery in production during the second half of 2026. This development allows the company to resume mining higher-grade gold ore from its open-pit operations.

On Wednesday, September 16, 2026, BRMS shares closed at IDR 735 per share, up IDR 5 or 0.68% from the previous closing price. The stock opened at IDR 730 and traded between IDR 715 and IDR 740 during the session.

According to trading data reported by Kabarbursa, BRMS recorded a trading volume of 2.02 million lots, with a total transaction value of IDR 146.6 billion and an average trading price of IDR 727 per share.

Source: https://lensahukum.co.id/brms-rampungkan-akses-tambang-poboya

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