Recording several exploration projects in 2024, MIND ID, is committed to consistently carrying out the government mandate in managing mineral and coal resources and reserves this year.
It is worth noting that exploration involves a series of activities including preliminary surveys, geological mapping, topographic surveys, geophysical investigations, and other basic investigations, followed by drilling activities and laboratory analysis.
This is done in order to obtain data on the overall potential resources and reserves before conducting mining activities.
MIND ID's Corporate Secretary, Heri Yusuf, stated that the strategic downstream projects of the MIND ID Group have been deemed effective in utilizing Indonesia's current mineral and coal resources and reserves.
To ensure the long-term sustainability of the downstream program, the MIND ID Group remains committed to maintaining the resilience and growth of reserves by using the reserve replacement ratio as an indicator, through the company's commitment to conducting ongoing exploration activities.
"Exploration is the most upstream process in the mining industry and is crucial. We strive to ensure that these reserves continue to grow and are ready to be monetized to guarantee the sustainability of Indonesia’s mineral downstream program" he said in a press release on Wednesday (January 15).
The exploration programs that have been carried out in 2024 are being managed by PT Aneka Tambang Tbk (ANTM) to manage the resources and reserves of critical and strategic mineral commodities in various regions such as Tayan, West Kalimantan for bauxite, and Pongkor, West Java for gold.
As for nickel commodities, exploration is ongoing in areas such as North Konawe, Pomalaa in Southeast Sulawesi, Tanjung Buli in North Maluku, and Gag Island in Southwest Papua.
PT Bukit Asam Tbk (PTBA) is also carrying out exploration with a focus on the Tanjung Enim area in South Sumatra, which holds the largest coal reserves in Indonesia. In 2024, exploration activities have included geological mapping and monitoring, drilling, and sample analysis.
PT Freeport Indonesia (PTFI)’s copper and gold production, as planned, has a mine life until 2041. However, based on the current estimates of available resources and reserves, production is expected to continue beyond 2041, provided that an extension of the production operation license is granted by the Government of the Republic of Indonesia.
PT Vale Indonesia Tbk (INCO) is also consistently conducting exploration activities and plans to intensify exploration in the Tanamalia Block, which is part of the company’s mining concession in Sorowako, South Sulawesi.
Furthermore, PT Timah Tbk (TINS), as a member of the MIND ID Group, has also demonstrated its commitment to exploration activities, including drilling operations in the seas around Bangka Island and Kundur Island. Meanwhile, PT Timah Tbk is also conducting land exploration activities that include primary and alluvial tin deposits, as well as mine guidance drilling to optimize production on Bangka Island and Belitung Island.
"The exploration program has been quite aggressive in 2024, and we are committed to continuing it in 2025 to consistently support the creation of sustainable added value for the Indonesian economy in the long term" he concluded.
