Jakarta, CNBC Indonesia – PT Bumi Resources Minerals Tbk (BRMS) appointed Adika Nuraga Bakrie as the company’s President Commissioner, replacing Saptari Hoedaja who previously served as President Commissioner and passed away on July 4, 2021.
This decision was approved by 99% of the holders shares in the Extraordinary General Meeting of Shareholders (EGMS) which took place today, Tuesday (12/10/2021).
Currently, Adika is the President Director of Bumi Resources, replacing Saptari Hoedaja. He has also served as Director at PT Bakrie Capital Indonesia, PT Minarak Brantas Gas, President Director at PT Gaia Energi Baik, Commissioner at Kaltim Prima Coal, Chief Business Development Officer Director at PT Jungleland Asia and PT Graha Andrasentra Propertindo.
This 39-year-old man has also served as Investment Specialist at PT Bakrieland Development, Deputy Chief Financial Officer at PT Semesta Marga Raya, and member of the Board of Commissioners at PT Bakrie Sumatra Plantation Tbk., a company engaged in plantations, especially oil palm.
Gold mining issuers are aggressively expanding and diversifying their business. In Yuanta Research’s research, this expansion is the key to driving the company’s performance. Currently, BRMS is increasing its gold mining and processing capacity at Citra Palu Mineral to 27.9 million tons of ore and production of 2 times 4,000 tons per day.
Meanwhile, Gorontalo Minerals is still in its early stages and requires investment for infrastructure development, production facilities, and resource development. For this reason, the progress of this expansion process is considered important in supporting the company’s performance.
BRMS is securing costs for its mining assets, BRMS will invest US$119 million for Citra Palu Minerals, US$92.3 million for Gorontalo Minerals and US$32 million for Dairi Prima Minerals. Funds for investment in CPM have been secured using a loan facility of US$48 million and US$71 million from the rights issue, as well as the mine in Gorontalo.
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