Tuesday, December 1, 2009

Bumi spend US$800 Million to develop new mines

PT Bumi Resources Tbk said it may spend about $500 million to develop gold and copper mines on Sulawesi island and about $300 million to develop an iron ore mine in Mauritania.
The company may start production at the gold and copper mines in 2012 or 2013 and at the iron ore mine in 2010 or 2011, it said in a presentation paper filed to the Indonesia Stock
Exchange.

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