Merdeka Copper Prepares USD 390 Million Capex until Mid 2023
Fri 10 Jun 2022, 09:12 AM
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This year is the momentum for PTMerdeka CopperGold Tbk (MDKA) boost performance. The company has prepared a capital expenditure (capex) of USD 390 million until mid-2023 to finance a number of projects.
MDKA currently has several main assets, namely the Tujuh Bukit Copper Project, the Nickel Mining and Refining Asset Project, the Pani Gold Project, and the Wetar Acid Iron Metal Project in Morowali.
PT Bumi Suksesindo Seven Hill gold mine area, a subsidiary of PT Merdeka Copper Gold Tbk (MDKA) in Banyuwangi, East Java, Monday (23/7/2018) Photo: Ema Fitriyani/kumparan
"At the Tujuh Bukit Gold Mine, gold production in 2022 is expected to be in the range of 100k to 120k gold ounces with an AISC of USD 1,000 to USD 1,100 per ounce gold," said MDKA Deputy Director Simon James Milroy.
MDKA has also completed the acquisition of a 55.67 percent stake in PT Hamparan Logistik Nusantara through its subsidiary, PT Batutua Tembaga Abadi. HLN has acquired a nickel mining project with the world's largest nickel ore reserves and operating nickel refining assets.
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