PT Merdeka Copper Gold Tbk. (IDX:MDKA) was established in 2012 as a holding company with four subsidiaries, namely PT Bumi Suksesindo (“BSI”) as the holder of the production operating permit for the Tujuh Bukit Mine, PT Damai Suksesindo (“DSI”) which holds the adjacent exploration permit, PT Cinta Bumi Suksesindo (“CBS”) and PT Beta Bumi Suksesindo (“BBSI”) which are subsidiaries that may also engage in mining and minerals operations.
The Company’s major assets are the Tujuh Bukit Mine, often referred to as the Tujuh Bukit Oxide Heap Leach Project and the undeveloped Tujuh Bukit Copper Gold deposit, both located in the
Banyuwangi Regency, East Java, Indonesia, approximately 205 kilometers southeast of Surabaya, the Provincial Capital. The Tujuh Bukit Copper Gold deposit is one of the world’s top ranked undeveloped porphyry copper and gold mineral resources, containing approximately 28 million ounces of gold and 19 billion pounds of copper. The operating Tujuh Bukit Mine is based on a near surface oxide gold silver deposit that contains a Mineral Resource of 2.45 million ounces of gold and 79 million ounces of silver and associated Ore Reserves.
As a world-class Indonesian mining company, Merdeka is owned by prominent Indonesian shareholders including; PT Saratoga Investama Sedaya Tbk., PT Provident Capital Indonesia and Mr. Garibaldi Thohir. Merdeka’s three major shareholders have exceptional track records in successfully identifying, building and operating multiple publicly listed companies in Indonesia.
Plans & Latest Developments:
Merdeka, as part of Eastern Field Developments Limited, has acquired control of Finders Resources Limited the operator of the Indonesian Wetar Copper Project with Ore Reserves of 5 Mt at 2.7% copper containing 136 kt of copper metal. The exploration decline to better define the Tujuh Bukit 1.9 billion tonne Porphyry Copper Gold resource has commenced. Expansion studies of the Tujuh Bukit Heap Leah project are in progress and will be constructed in 2018.
Why should investors invest in you?
Merdeka is a proven developer that constructed a gold heap leach mine and produced 144 koz of gold at all-in sustaining cost of US$ 425/oz. An exploration decline into a 1.9 Bt copper gold resource has commenced. Merdeka, as part of Eastern Field Developments Limited, acquired Wetar Copper Project.
Stock Exchange Listing:
Copper | Gold
Stage of Development:
Exploration | Production | Development
Countries of Operation:
Board of Directors:
- Adi Adriansyah Sjoekri – President Director
- Colin Francis Moorhead – Vice President, Director & CEO
- Gavin Arnold Caudle – Director
- Hardi Wijaya Liong – Director
- Michael William – Soeryadjaya Director
- David Thomas Fowler – Director
- Rony N. Hendropriyono – Director
- Chrisanthus Supriyo – Director