MDKA Spends IDR 49.49 Billion on Exploration at Tujuh Bukit Project and Wetar Mine
Fri 10 Jul 2026, 13:53 PM
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PT Merdeka Copper Gold Tbk (MDKA) allocated USD 2.81 million or equivalent to IDR49.49 billion for exploration activities in the second quarter of 2026.
The funds were focused on the Tujuh Bukit project in East Java, Damai Suksesindo (DSI) in East Java, and the Wetar Copper Mine in Southwest Maluku.
Based on the company’s exploration activity report on Friday (July 10, 2026), the majority of the budget was allocated to the Tujuh Bukit project, which absorbed around IDR 48.95 billion.
Activities in the area focused on developing copper, gold, and silver resources through resource definition drilling, mine life evaluation, and regional exploration.
The majority of work at Tujuh Bukit was carried out by PT Bumi Suksesindo, with support from PT Merdeka Teknik Servis (MTS) under a work contract scheme.
During the second quarter of 2026, seven Diamond Drill (DD) rigs completed 35 drill holes with a total depth of 7,509.8 meters, while six other holes were still undergoing drilling with a total depth of 1,469.1 meters.
In addition to drilling activities, the company also conducted an Induced Polarisation (IP) geophysical survey in the East Salakan and Lompongan areas, covering 10 survey lines with a total length of 14 kilometers.
Ground magnetic surveys were conducted in Candrian, Lompongan, Gua Macan, and Salakan through 59 survey lines with a total length of 68.8 kilometers.
Meanwhile, exploration activities at the Wetar Copper Mine absorbed around IDR 330 million. All work was carried out by MTS, focusing on preparations for the Induced Polarisation (IP) geophysical survey.
By the end of the second quarter of 2026, the company had completed preparation of 8.9 kilometers of survey lines from a total target of 72 kilometers.
The Damai Suksesindo (DSI) project absorbed around IDR 220 million in funding. Most of the work was carried out by DSI with support from MTS.
The company stated that prospective areas had been successfully identified as detailed exploration targets for the next stage. However, field exploration activities at DSI remain suspended following approval of a one-year suspension period that has been effective since October 10, 2025.
During the suspension period, DSI will continue data-based studies (desktop studies), including geological data evaluation and geophysical data reinterpretation, to support project development.
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