Profits Soar 22% in Q1 2026, Bumi Resources Minerals Targets 80,000 Troy Ounces of Gold Production

PT Bumi Resources Minerals Tbk (BRMS) has started 2026 with continued financial growth amid production pressures. Throughout the first quarter of 2026, the company’s revenue and net profit rose by double digits, even as production volumes declined due to operational activities at the mine.

According to the Q1 2026 financial report, revenue increased 10% year-on-year (yoy) to US$69.47 million. In the same period the previous year, BRMS’s revenue was recorded at US$63.32 million.

This increase also drove the company’s net profit to grow 22% annually to US$18.06 million from US$14.85 million previously. Operating profit also rose to US$28.59 million from US$27.58 million in Q1 2025.

BRMS Director and Chief Financial Officer, Charles Gobel, stated that the company experienced production pressures due to pushback activities at one of its main mine sites. The significant surge in global gold prices kept the company’s performance solid.

“Our gold and silver production declined in Q1 2026 due to the ongoing pushback operations at the open-pit River Reef mine (Poboya, Palu). Nevertheless, we were still able to record improving financial performance thanks to the increasing selling prices of gold and silver during the same period,” Charles explained, quoted from an official statement on Wednesday, 30 April 2026.

Charles detailed that gold sales volume fell from 21,922 ounces to 14,790 ounces. Similarly, silver sales were observed to plummet from 60,512 ounces to 41,043 ounces.

The decline in sales volumes was covered by the significant increase in selling prices of both precious metals. Gold prices surged to US$4,512 per ounce from US$2,809 per ounce, while silver prices rose sharply to US$66.81 per ounce from US$28.74 per ounce.

President Director of PT Citra Palu Minerals, Damar Kusumanto, stated that the decline in gold grades had been anticipated since the beginning of the year through pushback operations. The pushback operations are expected to be completed by early June 2026.

“After the pushback ends, we can begin mining high-grade ore at the new opening location in June 2026,” said Damar.

He also revealed that the company is working to significantly increase the gold mill’s capacity. One of BRMS’s gold mills is estimated to experience a surge in gold ore processing from 500 to 2,000 tonnes per day, to be completed in October 2026.