PT Amman Mineral Internasional Tbk (AMMN) targets Cebakan Elang development or exploitation to begin around 2027.
AMMN Vice President of Corporate Communications and Investor Relations Kartika Octaviana said that Cebakan Elang will replace Batu Hijau mine production, which will run out in 2030.
"The group intends to start Cebakan Elang development around 2027 to replace ore processing activities from Batu Hijau mine, which will run out in 2030," Kartika said when confirmed on Wednesday (21/2/2024).
When the Batu Hijau mine is finished, mining activities at Cebak Elang will begin from 2031 to 2046, said Kartika.
She added that the group has also identified other copper and gold prospects within the Special Mining Business License (IUPK) area of PT Amman Mineral Nusa Tenggara (AMNT).
"The group has identified other copper and gold prospects within the AMNT IUPK area for which exploration and study activities are still ongoing," she said.
Amman reported that from October 1, 2023 to December 31, 2023, the group conducted exploration activities in IUPK Blocks I, II, and III, located in Sumbawa. Meanwhile, there were no field exploration activities in Block IV, Lampui.
The total exploration expenditure for the fourth quarter of 2023 was around USD 6.27 million, equivalent to IDR 97.93 billion (assuming an exchange rate of IDR 15,620 per US dollar).
The exploration in Block I, Batu Hijau, amounted to around USD 3.12 million. There were 29 drill holes, including those completed and those still in progress, with a total of 12,507.6 meters. Core samples sent to the assay laboratory totaled 4,311.
Amman plans to continue exploration drilling with 12 rigs in the first quarter of this year.
The exploration of Block II, Cebak Elang, has cost around USD 2.68 million. Amman continued resource development drilling at the Elang Cu-AU deposit. The infill drilling aims to tighten geological information, improve the geological model, and increase the confidence level of the resource classification.
Core drilling in the Elang Block was 21 holes with a total coverage of 3,688.8 meters. In detail, infill resource drilling at Elang Cu-Au was 17 drill holes, including those completed and those still in progress, with a total of 2,227.8 meters. In addition, there is exploration drilling at Alma Cu-Au of 4 drill holes with an area of 1,461 meters.
Amman plans to continue drilling defined resources at Elang with 2 rigs and at Alma with 1 rig in the first quarter of this year.
The exploration drilling and geological mapping were carried out at the third Rinti Block, costing approximately USD 0.46 million. The drilling on this block will continue with 1 rig in the first quarter of this year.
Image source: Bisnis.com
Source: https://market.bisnis.com/read/20240221/192/1742965/gantikan-batu-hijau-amman-mineral-ammn-bidik-eksploitasi-cebakan-elang
