BRMS Find Purchasers Ore from Turkey

Jakarta-PT.Bumi Resources Mineral Tbk(BRMS) will seek a buyer from Turkey in marketing products of iron ore from Mauritania.

It was mentioned Investor Relations of PT.Bumi Resources Mineral Tbk Herwin Hidayat, when met reporters, last weekend. "We are looking for a buyer from Turkey to the max line ships with a capacity of 90-100 tons of ore. When marketed to China then it will turn away," said Herwin.

He further said, the production of iron ore in Mauritania mine is estimated at 600 thousand tons per year. Production will begin between March and May 2012. The Company expects production to reach over 1 million tonnes of iron ore in 2014. Herwin said, the reserves of iron ore in Mauritania mine is about 100 million tons.

In addition, EBITDA is expected to reach U.S. $ 50 million from the mines Mauritania. But the company must divide EBITDA by the Mauritanian government.

Related to sales performance in 2011, Herwin said the sale will be supported from the sale of the coal trade from Japan Bumi Resources about U.S. $ 20 million-US $ 30 million and dividends of Newmont.