Industry Segment: Market Brief | Word Count: 99 Words

PT Citra Palu Mineral (CPM), a contract owner of a gold mine in Poboya, Indonesia, has just announced that the open-pit gold mine project will be completed this second quarter. The mine site is estimated to have reserves of 3.9 million tons of gold ore and a total of 7.9 million tons of gold resources ore. PT Bumi Resources Minerals Tbk (BRMS), the parent company, is expecting to produce up to 100,000 tons of gold ore in the first year of production. In the following year, production will be double the capacity of gold ore per year.