Jakarta. Indonesian billionaire Agus Projosasmito bought 5.5 million shares in Bumi Resources Minerals (BRMS), adding to his stake in the gold miner ahead of its third-quarter earnings and production report due next week.

Agus, BRMS’s president director and chief executive officer, purchased 2.2 million shares at Rp 446 apiece and another 3.3 million shares at Rp 448 each on Thursday, the company said. The transactions were worth about Rp 2.46 billion ($136,000).

The purchases add to a broader accumulation of BRMS shares by company executives. Over the past 18 months, six of the miner’s eight directors, including Agus, have collectively acquired nearly 13 million shares, according to management.

Agus ranked as Indonesia’s 22nd-richest person, with an estimated net worth of $2.5 billion, or about Rp 45 trillion, according to Forbes’ real-time billionaire rankings on Thursday.

The share purchases come as BRMS prepares to report its financial and production results for the July-September period. The company expects gold output and revenue to rise significantly from the second quarter and is targeting a return to net profit after posting a loss in the previous quarter.

The expected improvement follows the completion of additional pushback work at the company’s open-pit gold mine in Palu, Central Sulawesi, at the end of July. The work has enabled BRMS to mine higher-grade ore, which contains more gold per ton of rock.

BRMS is also developing an underground gold mine in Palu, where it expects to begin extracting ore with grades exceeding 3.2 grams of gold per ton by mid-2027.

The company plans to expand the processing capacity of one of its gold plants to 2,000 tons of ore per day from 500 tons. The upgraded facility is scheduled to begin operating in early 2027.

The expansion and access to higher-grade ore are expected to support further gains in gold production and financial performance in the second half of 2026 and through 2027 and 2028, management said.

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