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Reserve and Resources

Reserve and Resources

As a mining-based company, exploration is a key factor in maintaining the business sustainability given the non-renewable characteristic of mineral deposit. Despite having a vast and high quality reserves and resources, particularly for nickel and bauxite commodities, in 2019 ANTAM continued its exploration activities to ensure the Company’s sustainability through the Geomin Unit by focusing on efforts to enhance and obtain gold resources.

ANTAM reports its exploration results and the estimated ore reserves and mineral resources based on the reporting standard issued by the 2012 Joint Ore Reserves Committee (JORC) and compiled according to the rules of the Indonesia Mineral Reserve Committee (KCMI) 2017 Code. Exploration results and calculation of mineral resources & reserves The ore is conducted by the Geomin Unit which is an ANTAM exploration unit consisting of a technical team with the certification of Indonesian Competent Person (CPI) - PERHAPI (Association of Indonesian Mining Experts)/IAGI (Indonesian Geologist Association) in the field of Exploration Result, Mineral Resources Estimation and Ore Reserve specialization Estmation and member of the Australian Institute of Mining and Metallurgy (MAusIMM).

ANTAM through the Geomin Unit carries out integrated mineral exploration activities which include area survey activities, geological exploration, geophysical exploration, geodesy surveys, drilling, physical and chemical analysis testing, calculation of reserves and mineral resources supported by Geographic Information Systems (GIS - Geographic Information Systems) integrated. During 2019, exploration activities focused on finding new gold reserves and resources.

ANTAM's current mineral reserves and resources are as follows:

Proven and Probable Reserves

Commodity Unit

Reserve Ore Quantity

2018 2019
Nickel Ore million wmt 438 354
Gold Ore thousand dmt 4,526 3,439
Bauxite Ore million wmt 31 151

Mineral Ore Resources

Commodity Unit

Resources Ore Quantitiy

2018 2019
Nickel Ore million wmt 1,334 1,362
Gold Ore thousand dmt 9,789 9,187
Bauxite Ore million wmt 578 598

Based on the Competent Person’s report, figures as of December 31, 2019 estimations at this table including nickel figure from PT Gag Nikel, bauxite resources estimations at PT Borneo Edo International, PT Mega Citra Utama, PT Dwimitra Enggang Khatulistiwa and PT Gunung Kendaik, gold resources and reserves estimations at PT Cibaliung Sumberdaya.

 

For the latest information on ANTAM's exploration activities click Exploration Reports.

 

Notes
wmt : wet metric ton
dmt : dry metric ton

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