PT Bumi Resources Minerals Tbk (BRM) currently owns 80% stake in PT Gorontalo Minerals (GM) The remaining 20% stake is owned by PT Aneka Tambang Tbk (ANTM). GM has Contract of Work rights to a 24,995 hectare mining concession located in the Bone Bolango Regency (Gorontalo, Sulawesi, Indonesia). GM currently is doing exploration works in the Sungai Mak and Cabang Kiri sites and has reported its JORC Resource Estimate of 392 million Ton (0.49% Cu and 0.43 g/t Au) from the Sungai Mak, Cabang Kiri, Kayu Bulan, and Motomboto Sites. GM’s construction & Production permit was approved in February 2019 for 3 year construction period and 30 year production period (until 2052).
