JAKARTA - PT Aneka Tambang Tbk. (ANTM) admits that it is looking for new gold mines in several regions in Indonesia. On the other hand, this state-owned mining issuer is also aggressive in exploring to increase the life of mining or life of mine (LoM).
Antam's Director of Business Development, I Dewa Wirantaya, said that currently his party is targeting several new areas that have gold reserves. He did not deny that currently Antam is also looking for gold reserves abroad. This, he said, was one of the inorganic strategies carried out by the company.
For domestic areas, Antam targets the Aceh area and Java Island, which if they still have jumbo reserves and will start from mining greenfields or mines that have not been hit.
"Of course we see that some of our new areas have coordinated domestically and abroad. In the country we have seen several areas, Java, Aceh areas and so on," he said, quoted on Friday, June 13.
Dewa said Antam had coordinated with the Ministry of Energy and Mineral Resources (ESDM) and the relevant local government to carry out gold exploration activities. He admitted that actually the gold reserve exploration process took a very long time.
Antam, continued Dewa, will carry out exploration both through independent exploration and assignments to develop the expansion of the gold mining business. Not only that, Antam is also evaluating several existing companies that have the potential to be acquired.
Regarding mining exploration abroad, Dewa said that his party was coordinating with MIND ID, the Ministry of SOEs, and the Ministry of Foreign Affairs.
"We also thank the ministry, both from BUMN, Ministry of Foreign Affairs, MIND ID, for connecting us to support overseas exploration of several countries that have the potential to have gold," explained Dewa.
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From an organic point of view, Dewa said that Antam was reevaluating the plan to extend the Mining Business License (IUP) and continue the exploration of the Pongkor gold mine located in Bogor aggressively exploring.
With this massive exploration activity, Dewa hopes that the Pongkor area still has potential and is economical and can be maximized
"We will still need support from the government so that we can carry out the extension of the IUP from Pongkor after the FS (feasibility study) from the evaluation can be carried out," said Dewa.
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