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View all search resultsBRMS' unit to start processing zinc, lead 2017
Mining firm PT Bumi Resources Minerals (BRMS) expects its subsidiary PT Dairi Prima Mineral to start processing zinc and lead at the end of 2017 following the inking of a contract
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M
ining firm PT Bumi Resources Minerals (BRMS) expects its subsidiary PT Dairi Prima Mineral to start processing zinc and lead at the end of 2017 following the inking of a contract.
The Jakarta-listed company announced in a press statement on Sunday that Dairi had signed an engineering, procurement and construction contract last Thursday with China Nonferrous Metal Industry's Foreign Engineering and Construction Co. Ltd. (NFC).
Under the contract, which followed a general partnership agreement signed last October, NFC will build infrastructure and facilities to process 1 million tons of ore per annum at a zinc and lead mining site in North Sumatra, which is operated by Dairi.
NFC will help acquire 85 percent of the funds needed for the mining site development project, with the total funds to be disclosed soon.
'We expect to monetize the zinc and lead reserves operated by Dairi by the end of 2017 and add value to the respective shareholders,' BRMS CEO Suseno Kramadibrata said in the statement.
Dairi is 80 percent owned by BRMS and 20 percent by state-run diversified miner PT Aneka Tambang.
Dairi currently operates the zinc and lead mining site, which has total reserves of 11 million tons. The reserves contain 11.5 percent zinc and 6.8 percent lead.
