Metal mining issuer PT Merdeka Copper Gold Tbk. (MDKA) said it would increase gold and copper production for 2023.
President Director of MDA Albert Saputro said that this year MDKA is targeting an increase in gold production compared to 2022. According to him, one of the main sources of gold production for the MDKA Group, the Tujuh Bukit Gold Mine, during 2022 will produce 125,133 ounces of gold with an all-in-sustaining cost of US$1,131 per ounce of gold. .
Albert continued that in 2023 gold production from the Tujuh Bukit Gold Mine is targeted to be in the range of 120,000 to 140,000 ounces of gold with an AISC of US$1,100-US$1,300 per ounce of gold.
"The MDKA Group is also continuing the exploration of the copper project at Tujuh Bukit which is expected to provide optimal results. The Seven Bukit copper project is one of the largest pre-production copper projects in the world, which shows technical and economic feasibility," said Albert in MDKA's public expose, Tuesday ( 13/6/2023).
Apart from the Tujuh Bukit Mine, according to Albert, currently the MDKA group is carrying out the development and exploration of a number of gold and other mineral mining projects. Among them is the development of the Pani gold project, Gorontalo, which is expected to produce 450,000 ounces of gold per year.
Albert explained that the Pani gold project is currently preparing for a comprehensive mining process. The feasibility study for this project is scheduled to be completed by the end of quarter III/2023 and the results will be announced in quarter IV/2023. The Pani project is envisioned as a long-lived, low-cost gold mine with high gold production.
Meanwhile, the Wetar Copper mine in 2022 will be able to produce as much as 19,551 tons of copper at an AISC of US$3.37 per pound of copper. Copper production in 2023 from this mine is targeted to be around 16,000–20,000 tons of copper, with an AISC projection of US$3.70 –US$4.70 per pound of copper.
From RKEF smelters to produce nickel pig iron (NPI), MDKA targets production in 2023 in the range of 18,000–20,000 tons of NPI, with an AISC of US$13,000–US$15,000 per tonne of nickel.
As of the end of 2022, the MDKA group has a portfolio of mineral resource assets with reserves of 35.2 million ounces of gold, 8.4 million tons of copper, 79 million ounces of silver, 13.8 million tons of nickel and 1 million tons of cobalt.
