Merdeka Copper Gold Tbk. (“the Company”) was founded in 2012 as a holding company with two operating subsidiaries that are engaged in the mining business, encompassing the exploration and future production of gold, silver, copper and other related minerals. The two subsidiary companies are PT Bumi Sukesindo (BSI), which holds the Mining Operating Permit for Production dated 9 July 2012 and PT Damai Sukesindo (DSI), which holds the Mining Operating Permit for Exploration dated 10 December 2012.
Merdeka Copper Gold’s major asset is the mining project known as the Tujuh Bukit Project which is located in the Banyuwangi Regency, East Java, approximately 205 kilometers southeast of Surabaya.
The Tujuh Bukit Project is one of the world’s top undeveloped gold and copper projects with an estimated total JORC Compliant Resource containing 19 billion lbs of Copper and 28 million oz of Gold.
The Tujuh Bukit Project actually comprises two distinct mining development opportunities: the first development is a low capital cost, low operating cost and high margin Oxide Gold Silver Project and the second is the future potential development of the world class Copper Gold Porphyry Project.
The Oxide Gold Silver Project is an industry standard heap leaching operation. The total JORC Resource for the Oxide Project is 90 million tonnes (Mt) of ore at an average grade of 0.73 grams per tonne gold (g/t Au) and 25.7 grams per tonne silver (g/t Ag). The Oxide Project will use conventional open pit mining, ore stacking and leaching and the industry standard ADR (Adsorption, Desorption, Recovery) gold processing plant to process 3mt ore per year and produce up to 90,000 oz of gold and 1 million oz of silver per year from 2016 – 2025. The estimated mine ore production over the 8 – 9 years mine life is 24,5 mt ore.
The world class Tujuh Bukit Porphyry Project currently has a JORC Compliant Resource of 1.9 billion tonnes of ore at an average grade of 0.45% Copper (Cu), 0.45 gram per tonne gold (g/t Au) and 93 gram per tonne Molybdenum (g/t Mo). The potential future development of the Tujuh Bukit Porphyry Project will once again show the world that Indonesia hosts some of the world’s best mining projects.
Merdeka Copper Gold has two major Indonesian shareholders, which are PT Saratoga Investama Sedaya, Tbk and PT Provident Capital Indonesia. The former is Indonesia’s leading investment-holding company renowned for its strong, hands-on management approach in unlocking value from companies it invests in, while the latter is a leading investor and manager of businesses in Southeast Asia and Australia, including a number of gold mine operations that are listed on the the Australian Stock Exchange.
The Company has granted 10% of its shares to the regional government of Banyuwangi, representing the participatory rights of the people of Banyuwangi in the Company’s mining projects. The intention of the share grant is to provide the community of Banyuwangi Regency, particularly those who live around the gold mining location, with the sustainable economic benefits from the gold mining project.
Merdeka Copper Gold will be presenting their mining projects to prospective investors at Mines and Money Asia. Claim your complimentary investor pass now.