MBMA Spends IDR 58.18 Billion on Exploration at Sulawesi Cahaya Mineral Mine
Thu 15 Oct 2026, 09:08 AM
Share
PT Merdeka Battery Materials Tbk (MBMA) estimates that it spent IDR58.18 billion on exploration at the Sulawesi Cahaya Mineral (SCM) Mine in Konawe, Southeast Sulawesi, during the third quarter of 2026.
According to a company disclosure, the expenditure amounted to around USD 3.26 million and was used for drilling activities to define mineral resources over the life of the mine, along with related testing work.
In its report, MBMA said it had completed 1,607 core drilling holes, reaching a total depth of 41,289 meters. The activities were dominated by infill drilling to increase confidence in mineral resource estimates.
Merdeka Battery Materials Corporate Secretary Teddy Nuryanto Oetomo said regional exploration remained at an early stage. Preliminary results showed positive indications, but their contribution to mineral reserves had yet to be determined.
“Although the results obtained so far show positive indications, further evaluation is needed to assess their potential contribution to mineral reserves and the operational sustainability of the Sulawesi Cahaya Mineral Mine,” he wrote in a company disclosure on Thursday (15/10).
Meanwhile, MBMA management said it had not encountered any technical or non-technical obstacles that could affect exploration activities or the sustainability of raw material supplies from the Sulawesi Cahaya Mineral Mine.
“Nevertheless, potential risks may arise in the future due to changes in applicable policies or regulations, including but not limited to licensing, environmental, and other relevant aspects,” Teddy said.
Furthermore, Teddy said the company would continue to monitor developments in relevant policies and regulations while ensuring compliance with applicable requirements. This is intended to mitigate potential risks that could affect exploration activities.
Advertisement
