BRMS – Commits to settle ANTM debt

BRMS – Commits to settle ANTM debt Bumi Resources Minerals (BRMS) is committed to settling the remaining debt from its acquisition of a 20% stake in Dairi Prima Mineral (DPM) from Aneka Tambang (ANTM) in December 29, 2017. By December 31, 2023, BRMS had made four installments totaling USD29.3 mn out of the total transaction value of USD 57.31 mn. The remaining amount of USD28 mn is planned to be settled promptly. As of September 2023, the company is still in discussions with ANTM to resolve other outstanding debts. Note that BRMS holds cash and cash equivalents amounting to only USD9.71 mn, while ANTM's cash and cash equivalents are recorded at IDR7.54 tn for the 9M23. (Source: Kontan)