Codelco plans 25% cut in indirect emissions by 2030
Codelco plans to cut its so-called Scope 3 emissions, which are indirect emissions put out by its suppliers and the most difficult to reduce.
(via TheNewswire)
January 27, 2025 – TheNewswire - Vancouver, BC - Baru Gold Corp (TSX.V:BARU | OTCQB: BARUF) (the “Company” or “Baru”) and its subsidiary PT. Tambang Mas Sangihe (the “Company” or “PT TMS”) is pleased to welcome Sri Darmawan as our new Chief Operating Officer (COO) of the Sangihe Gold Project.
In his new role as COO, Sri Darmawan will oversee the Company’s mining operations and day-to-day activities, ensuring efficient, safe, and sustainable management. His leadership will also focus on improving operational performance, optimising resource management, and driving innovative solutions across the Company’s mining and processing sites. Sri is preparing to relocate to Sangihe Island.
Sri Darmawan is a chemical engineer and metallurgist with over three decades of leadership experience in gold mining. Sri has worked at some of the most prominent gold mining companies in Indonesia, including at PT JResources Nusantara, PT Avocet Bolaang Mongondow, and PT Newmont Minahasa Raya. His past leadership roles include Chief Metallurgist, Superintendent Production, Process Plant Manager, and Environmental Manager.
Sri’s deep understanding of metallurgy, and extensive experience in the management of gold mining operations will prove invaluable to the Company, and is a key addition to the Company's leadership team. Over his career, he has specialised in maximising mineral recoveries, and designing, constructing, and expanding heap leach processing plants.
Sri has also been instrumental in working with government agencies for operational permits, including annual work plans, environmental impact assessments (AMDAL), and community development programs. His ability to navigate complex regulatory landscapes, and his commitment to sustainable practices, will be key in supporting the Company’s commitment to responsible mining and community engagement.
Mr. Terry Filbert, CEO of Baru commented, “I am thrilled to welcome Sri to our leadership team and excited he is joining the Company at such a important time. We are now entering a period of rapid growth. Sri has a proven record of excellence in the mining sector and has spent decades leading gold mining operations in North Sulawesi, where Sangihe is based. The benefit of his understanding of the geology and his professional and community connections cannot be understated. I am confident that Sri’s leadership will help us to elevate our operations and achieve our long-term strategic goals.”
ABOUT SANGIHE GOLD PROJECT
The Sangihe Gold Project (“Sangihe”) is located on the Indonesian island of Sangihe, off the northern coast of Sulawesi. Sangihe has two existing National Instrument 43-101 reports with over 1 million oz of gold resource identified (inferred mineral resource of 1,022,987 and 114,700 indicated ounces of gold), as reported in the Company's “Independent Technical Report: Sangihe Property” (Caracle Creek International Consulting Inc, September 22nd, 2010) and “Independent Technical Report on the Mineral Resource Estimates of the Binebase and Bawone Deposits, Sangihe Project, North Sulawesi, Indonesia” (Mining Associates Pty Ltd, May 30, 2017).
Readers are cautioned that mineral resources that are not mineral reserves do not have demonstrated economic viability. The Company intends to proceed to production without the benefit of first establishing mineral reserves supported by a feasibility study. The Company cautions readers that the any production decision made by the Company will not be based on a NI 43-101 feasibility study of mineral reserves that demonstrates economic and technical viability and as such, there may be involved increased uncertainty and various technological and economic risks
The Company's 70-percent interest in the Sangihe-mineral-tenement Contract of Work (“CoW”) is held through PT. Tambang Mas Sangihe (“TMS”). The remaining 30-percent interest in TMS is held by other Indonesian corporations. The term of the Sangihe CoW agreement is 30 years upon commencement of the production phase of the project.
Baru has met all the requirements of the Indonesian government and has been granted its environmental permit.
ABOUT BARU GOLD CORP.
Baru Gold Corporation is a dynamic junior gold developer with NI 43-101 gold resources in Indonesia, one of the top ten gold producing countries in the world. Based in Indonesia and North America, Baru’s team boasts extensive experience in starting and operating small-scale gold assets.
Frank Rocca, BAppSc.(Geology), MAusIMM, MAIG, CPI-KCMI, Chief Geologist of Baru Gold Corp. is the Qualified Person as defined under NI 43-101 who has reviewed and approves the content of this release.
BARU GOLD CORP
Per: “Terry Filbert”
Terry Filbert, Chairman and Chief Executive Officer
For investor contacts more information, please contact:
Kevin Shum
Investor Relations
[email protected] 647-725-3888 ext 702
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Certain statements in this News Release, which are not historical in nature, constitute “forward looking statements” within the meaning of that phrase under applicable Canadian securities law. These statements include, but are not limited to, statements or information concerning future work programs, results and timing of any work programs, the Company’s performance or events as of the date hereof. These statements reflect management’s current assumptions and expectations and by their nature are subject to certain underlying assumptions, known and unknown risks and uncertainties and other factors which may cause actual results, performance or events to be materially different from those expressed or implied by such forward looking statements. Those risks include the interpretation of drill results; the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results will not be consistent with our expectations; commodity and currency price fluctuation; failure to obtain adequate financing; regulatory, recovery rates, refinery costs, and other relevant conversion factors, permitting and licensing risks; general market and mining exploration risks and production and economic risks related to design and engineering, manufacturing, technological processes and test procedures and the risk that the project’s output will not be salable at a price that will cover the project’s operating and maintenance costs. Forward-looking statements should not be construed as investment advice. Readers should perform a detailed, independent investigation and analysis of the Company and are encouraged to seek independent professional advice before making any investment decision. Accordingly, readers should not place undue reliance on any forward-looking statement. Except as required by applicable securities laws, the Company disclaims any obligation to update or revise any forward looking statements to reflect events or changes in circumstances that occur after the date hereof.
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