BRMS - ld production to jump in 2023

Bumi Resources Mineral (BRMS) is aiming for a significant jump in its ld production volume in 2024 as the second ld plant in Palu has commence operation since Oct '22 and making its total ld production capacity to reach 4.5k ton per day (tpd). The second plant, who has 4k tpd capacity, is expected to ramp up its production volume with initial monthly production of around 200-500 tpd in remaining 2022 before increasing to 1,000-2,000 tpd in 1Q23 and at full capacity afterwards. The company is aiming for 40k oz of ld production volume in 2023, assuming 80% utilisation on its new ld plant and 1.5 gr/tonne ld resources grade. (Source: Kontan)