Merdeka Copper Gold, Owned By Conglomerates Edwin Soeryadjaya And Sandiaga Uno, Has Disbursed IDR 194.2 Billion For Exploration Of Mining Areas In The First Quarter Of 2022

Photo: Doc. Merdeka Copper Gold

JAKARTA - The mining company owned by conglomerates Edwin Soeryadjaya and Sandiaga Uno, PT Merdeka Copper Gold Tbk (MDKA) has disbursed funds of IDR 194.2 billion for the exploration of the Tujuh Bukit, Wetar and Pani mining areas until the first quarter of 2022.

In a written statement on the Indonesia Stock Exchange (IDX) website, quoted on Tuesday, April 12, MDKA management said that the exploration of the Tujuh Bukit area was focused on energy and gold resources. Most of the exploration costs were spent on this project, which was IDR 144.4 billion which consisted of tunnel maintenance, underground resource definition drilling, and test work related to the area.

The testing method used is drilling starting from underground and surface. This test was carried out by Merdeka Copper and PT Merdeka Mining Service. The area selected for the current drilling operation is in the Tujuh Bukit porphyry deposit which is the largest area containing high grade copper and gold.

Drilling was carried out where 6 underground rigs carried out Resource Definition drilling with a total drilling depth of 10.105.7 meters and 2 surface rigs were completed with a total drilling depth of 2.021.2 meters.

Then, in the second project, which is located on Wetar Island, West Maluku. In this project, the company disbursed funds of IDR 31.7 billion. The test method used is by mapping and creating a trajectory to continue the surface geophysical EM survey from the results of regional EM air targets.

Followed by inline drilling and resource extension and metallurgy in Partolang and Partolang Barat, initial drilling in the Partolang Bridge area to identify resources and targets in the Lerokis area determined by EM targets and prior rock sampling.

The third project is located in the Pani Project, Gorontalo, West Sulawesi. MDKA is currently preparing a drilling program and constructing drill bearings and laying water pipes. Subsequently, the datasets from the PETS IUP and GSM Contract of Work were combined and a revised and simplified geological code system was developed for drill core logging.