Bumi secured permits for Dairi Prima and Citra Palu projects

PT Bumi Resources Minerals Tbk (BRMS), said that its zinc and lead project operated by the company?s 80-percent owned subsidiary, PT Dairi Prima Mineral (DPM) in North Sumatera, secured the principle agreement from the Ministry of Forestry for the underground mining works within the concession.

The permit was issued on 15 November 2011.

In addition, BRMS announced that its 96.97-percent owned subsidiary, PT Citra Palu Minerals (CPM), that operates a gold and molybdenum concession in Sulawesi has obtained the Borrow & Use Permits for the exploration works in two of its sites.

The first site, covering an area of 21,181 hectares in North Luwu site, South Sulawesi secured the permit on 22 August 2011, while the second one, located in Donggala and Parigi Moutong sites, Central Sulawesi , obtained such permit on 23 September 2011, which covers an area of 29,223 hectares.

?The recently approved permits and licenses for our related concessions demonstrated our management ability to add value to these projects. The Principle Agreement for the underground mining works at DPM gives better certainty to the DPM?s production profile,? Kenneth Farrell, the CEO of Bumi Resources Minerals, said.

?We are on track to start production in the second half of 2013 from our zinc & lead project operated by DPM,? he said.

Farrell further explained that the exploration permits in CPM?s 2 sites allow the company to commence the necessary feasibility studies and exploration activities.

?We plan to finalize the JORC standardized Resources estimate in both CPM and our Gorontalo Minerals?s gold & copper project (GM) by end of 2012. GM received its Exploration Permit in December 2010,? he said. (godang)