Jakarta, March 25, 2025 - Discovering new gold and copper mineral reserves in Indonesia plays a crucial role in supporting economic growth and the sustainability of the mining industry. As a country with abundant natural resources, the exploration and discovery of new reserves not only ensures supply security for downstream industries but also encourages investment.
PT Amman Mineral Nusa Tenggara (AMMAN) continues to conduct exploration to develop copper and gold mineral reserves in Indonesia, including on Sumbawa Island, West Nusa Tenggara Province. One of the major explorations on this island is the Elang Project, which is regarded as one of the world's largest undeveloped porphyry copper and gold deposits. Located approximately 60 km east of the Batu Hijau mine—Indonesia's second-largest copper and gold mine—the Elang Project is part of AMMAN's long-term strategy to expand operations and increase its contribution to the national mining industry.
Surge in Ore Reserves
Since 2020, AMMAN's exploration team discovered a second porphyry copper and gold deposit in Elang, known as South Elang. This deposit is adjacent to the main Elang porphyry but is deeper and has slightly higher grades. Core drilling conducted since 2020, coupled with rising metal prices and engineering studies, indicates that the Elang open-pit mine designed in 2019 for the 2020 feasibility study will be significantly larger.
Recently, AMMAN released its latest JORC (Joint Ore Reserves Committee) report as of December 31, 2024, which shows a surge in Elang's mineral reserves and resources. JORC (Joint Ore Reserves Committee) is an international standard that ensures reports on mineral resources and reserves are made accurately and reliably.
According to the report, Elang's ore reserves have increased significantly. Compared to the 2023 report, ore reserves increased by 79%, from 1.4 billion metric tons to 2.5 billion metric tons. This increase also includes a 71% rise in copper content, from 10.4 billion pounds to 17.8 billion pounds, and a 76% increase in gold content, from 15 million ounces to 26.4 million ounces.
A definitive feasibility study for Elang is underway and expected to be completed in the first half of 2025. The United States Geological Survey (USGS) classifies the Elang deposit as a Super Giant Cu-Au Porphyry deposit, discovered in 1991. This classification indicates the enormous potential of the Elang Deposit as one of the world's largest undeveloped copper and gold resources.
Optimism for the Future
Kartika Octaviana, Vice President of Corporate Communications of AMMAN, stated that the significant increase in Elang's ore reserves provides great opportunities for various stakeholders. "The increase in reserves has the potential to significantly boost production and extend the mine life. This will not only have a positive impact on the business but also strengthen our contribution to the mining industry and the regional and national economies," said Kartika.
Based on the current plan, AMMAN will continue to mine Phase 8 at the Batu Hijau mine until 2030, with the potential utilization of stockpiles until 2033. Mining activities at the Elang mine are planned to commence after the Batu Hijau mine's life ends until 2046. The ore processing facilities, copper smelter, and precious metal refinery are planned to utilize the existing facilities at Batu Hijau.
