NHM Increases Gold Reserves By 1.4 Million Troy Ounce In The Last Three Years

PT Nusa Halmahera Minerals gold mining operations. (Photo: Doc. NHM)

JAKARTA - The gold mining company in the Gosowong area, North Halmahera, PT Nusa Halmahera Minerals (NHM) in the last three years has succeeded in increasing the number of gold reserves to reach 1.4 million troy ounces (oz).

The total gold resources reached 2.3 million oz, with an estimated value of more than 4.1 billion US dollars.

This success cannot be separated from the allocation of working capital and exploration costs over the past 3 years from the controlling shareholder of NHM, namely PT Indotan Halmahera Bangkit (IHB), which acquired NHM's share ownership in early 2020.

This extraordinary achievement is expected to extend the life of NHM mining for the next 10 years and further strengthen NHM as a key player in the national gold mining industry.

For information, the gold mining industry and other mineral and metal industries play an important and strategic role for Indonesia and the world.

Therefore, NHM is committed to continuing to invest in exploration activities in order to develop very potential gold resources in the NHM Work Contract area in North Maluku Province.

The NHM mining operational area has been designated as a National Vital Object which explains the strategic role of NHM for national economic stability and sustainability.

The success of this exploration has had a positive impact on the regional and national economies in the long term.

Deputy President Director Amiruddin Hasyim responded positively to the success of this exploration.

"Thanks to the hard work and efforts of all NHM employees and management, as well as the support of shareholders, we are very proud of the success of this exploration activity. This achievement is proof of NHM's commitment and shareholders to continue to provide added value to the community and stakeholders," said Amiruddin, who is also the son of the North Maluku region who has worked in NHM for 24 years.

Amiruddin explained, with the success of this exploration, the company's operational, production and financial performance in the future can gradually continue to improve and improve.

"Of course this new reserve will be a new energy for the company, especially from production, operational and financial aspects. We will use it to fulfill our commitments and provide added value for employees, contractors, suppliers, the surrounding community, and other stakeholders," he explained.

NHM's achievement in adding gold reserves not only reflects the company's technical and managerial expertise, but also affirms NHM's commitment to maintaining responsible and sustainable mining practices.

The company continues to prioritize the safety, health, and welfare of employees, as well as strives to provide positive benefits for the local community through sustainable programs.

"NHM will continue to ensure good governance in mining operational areas that have been categorized as OBVITNAS as absolute in order to achieve the sustainability of natural resources and positive benefits for all stakeholders, both in the mining circle, or nationally," concluded Amiruddin.