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Pani Gold and Tujuh Bukit Copper Projects Development

KONTAN/Akmalal Hamdhi

Fri 01 Dec 2023, 08:00 AM

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PT Merdeka Copper Gold Tbk (MDKA) conveyed the latest developments on a number of its prestigious projects, one of which is the Pani Gold Project. 

During January-September 2023, MDKA has completed 60,923 meters of drilling, with the next drilling schedule of 14,000 meters to be carried out during the remainder of this year.

Results from recent drill holes demonstrate continuity of mineralization and indicate potential for resource expansion.

Currently, MDKA is completing a feasibility study to optimize this gold project and build a heap leach with a capacity of 7 metric tons per year, with gold production expected to start at the end of 2025.

The Pani Gold Project in Gorontalo will be one of the largest primary gold mines in Indonesia. With mineral resources of 6.6 million ounces of gold, the Pani Gold Project will be a low-cost, long-lived and sustainable gold mine.

MDKA, which owns a 70% stake in the Pani Gold Project, has invested more than US$ 100 million to sustain the project until September 2023.

Meanwhile, for the Tujuh Bukit Copper project, MDKA is currently completing optimization studies, including the potential to increase metallurgical recovery, increase underground mining production output, and open pit mining for additional copper ore.

Underground drilling continues, with mineral resource updates targeted for completion in the first quarter of 2024.

Drilling activities during the first nine months of 2023 have been recorded as deep as 26,290 meters and will continue throughout the remainder of this year with plans for further drilling of 10,375 meters.

The Tujuh Bukit Copper Project is one of the largest copper projects in the world which is still in the pre-production phase. MDKA has 100% stake in this project. 

Image source: KONTAN/Akmalal Hamdhi

Source: www.investasi.kontan.co.id/MDKA Beberkan Perkembangan Proyek Emas Pani dan Tembaga Tujuh Bukit

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