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Wednesday, 25 July 12
BUMI RESOURCES MINERALS SECURED PINJAM PAKAI FOR ITS ZINC AND LEAD PROJECT
 COALspot.com - PT Bumi Resources Minerals Tbk. ("BRMS" or "the Company") today reported that its 80% owned subsidiary, PT Dairi Prima Mineral (DPM), has secured the Borrow & Use Permit for the Mining and Exploitation works for its zinc and lead concession in North Sumatera, from the Ministry of Forestry on 23 July 2012.
According to company, DPM has one of the highest grade of zinc deposits in the world (zinc and lead grades of 11.5% and 6.8% respectively), and is to be developed as an underground mining operation. DPM currently has JORC (Joint Ore Reserves Committee) standard reserve and resource estimates of 11 millions tonnes and 25 million tonnes of ores respectively.
Previously, in November 2011, DPM received the In-Principle License for the underground mining works within the same concession from the Ministry of Forestry. The recently approved Borrow & Use Mining and Exploitation Permit adds significant value to the zinc and lead project as it gives better certainty to the DPM's production profile. The permit is good for 8 years and can be extended.
BRMS also looks forward to completing the exploration drilling works on the several sites within its copper and gold concessions which are operated by the Company's subsidiaries, PT Gorontalo Minerals and PT Citra Palu Minerals in Sulawesi. Following which the JORC resource estimates from the respective sites will be announced by end of this year.
About Bumi Resources Minerals
PT Bumi Resources Minerals Tbk. (“BRM”) is majority owned by PT Bumi Resources Tbk. (“BUMI”).
BRM is incorporated in Indonesia and holds various non-coal mineral operating, development and exploration properties in Indonesia and in West Africa. BRM has a diverse portfolio of minerals, including copper, gold, zinc, lead, iron ore, diamonds, etc. and holds security of tenure for its exploration and development properties.
Given the strong commodity demand in the medium to long term, BRM provides a unique opportunity to be part of a diverse mineral company. The management team has sound business experience in resource development and operating activities. The team has the ability to manage in developing countries.
BRM strives to deliver positive results and add value to its stakeholders by monetizing its reserves into commercial production.
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Monday, 06 August 12
3RD ANNUAL INDONESIA POWER
Press Release - 3rd Annual Indonesia Power is Indonesia’s premier power event, where commercial opportunities and new projects are identified. ...
Monday, 06 August 12
COAL EXPORTS COULD ADD $2B TO $6B ANNUALLY TO U.S. ECONOMY - HELLENIC SHIPPING
Business groups backing Pacific Northwest coal export proposals on Thursday lauded a new report that claims increased U.S. coal exports could bring ...
Sunday, 05 August 12
SUB-BIT INDONESIA COAL SWAPS ARE WAY UP
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for September 2012 delivery gain 1.36 percent on Friday (3 August 2012) closing W-o-W but gained& ...
Sunday, 05 August 12
INDONESIA'S ADARO TRIMS PRODUCTION FORECAST, CITES BAD ECONOMY - THE JAKARTA GLOBE
The Jakarta globe reported that, Adaro Energy, the country’s second-largest coal producer, has cut its annual production forecast to between ...
Sunday, 05 August 12
DRY BULK FREIGHT MARKET TO STAY WEAK NEXT COUPLE OF WEEKS - VISTAAR
COALspot.com - The freight market continued to soften further in all segments.
The BDI was down by 8.68 pct closing at 852 points. The cape index ...
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