PT Timah Gelontorkan Rp38.7 Billion For Exploration In Quarter II

Illustration (Photo: Doc Antara)

JAKARTA - PT Timah Tbk (TINS) announced an exploration report for the second quarter of 2024.

Quoted from the information disclosure of the Indonesia Stock Exchange, the management of PT Timah revealed that exploration activities will focus on tin commodities with an operational cost of IDR 38,702,176,955 and an investment fee of IDR 0.

"The exploration activities of PT Timah at sea in the second quarter of 2024 are in the form of drilling in the waters of Bangka and the waters of Kundur using 3 units of drilling vessels and 1 unit of Pontor Bor in April," wrote the management quoted Wednesday, July 10.

Then the drilling was continued with 4 units of drilling vessels in May and 5 units of drilling vessels in June with a total of 7,767.80 meters of drill meters.

The land i exploration activities in the second quarter include mapping, geomagnet surveys and tin drilling both primary and alluvial and guided drilling on Bangka and Belitung islands with a total of 636.25 meters of boron meters.

"The exploration activity plan in the third quarter is to evaluate and continue activities the previous month," the management continued.

Drilling activities at sea are planned to use five drilling vessels in July allocated in the waters of Bangka and Kundur.

While on the ground for primary and alluvial lead drilling and guided drills on the islands of Bangka and Belitung, a geophysical survey of sound magnetic in the Penyamun (Bangka) area and a topographic survey in Bangka and Belitung.