Exploration Report Overview

PT Aneka Tambang Tbk (ANTAM; IDX: ANTM; ASX: ATM) has released its exploration report for the period ending December 31, 2023. The company's total exploration cost amounted to Rp278.03 billion, focusing on gold, nickel, and bauxite.

Executive Commentary

ANTAM's exploration activities until December 31, 2023, were concentrated on gold, nickel, and bauxite. The company conducted underground and surface drilling for gold exploration in Pongkor, West Java. In addition, nickel exploration activities were carried out in North Konawe, Pomalaa, and Tanjung Buli, involving geological mapping, core sampling, core logging, grid measurement, and drilling. Bauxite exploration in Tayan, Mempawah, and Landak, West Kalimantan, included geological mapping, measurement, test pit, and rock sampling. These activities aim to ensure the strategic mineral resources and reserves potential, as well as to support the sustainability of operations and the initiation of nickel downstream development.

Exploration Report Summary

ANTAM's exploration report for the period ending December 31, 2023, highlights the company's focus on gold, nickel, and bauxite exploration in Indonesia. The total exploration cost amounted to Rp278.03 billion, with specific activities conducted in Pongkor, West Java for gold, North Konawe, Pomalaa, and Tanjung Buli for nickel, and Tayan, Mempawah, and Landak, West Kalimantan for bauxite. These efforts aim to ensure the adequacy of the company's strategic mineral resources and reserves potential, as well as to support the sustainability of operations and the initiation of nickel downstream development. ANTAM continues to prioritize its exploration activities to strengthen its position in the mineral resources sector.