As a mining-based company, exploration activities are crucial for ANTAM's business continuity, given that a mine has a finite lifespan (non-renewable). Despite the Company's significant and high-quality reserves and resources, especially for nickel and bauxite commodities, in 2023, ANTAM continued its exploration efforts to ensure the Company's sustainability, focusing on enhancing resource acquisition and reserves for nickel, gold, and bauxite.
ANTAM adheres to reporting standards set forth by the Joint Ore Reserves Committee (JORC) Code 2012 in compiling exploration results and estimates of ore reserves and mineral resources. Additionally, reporting standards are developed following the guidelines of the Indonesian Mineral Reserves Committee (KCMI) Code 2017 and Indonesian National Standards (SNI) 4726:2019.
Through its Geomin Unit, ANTAM conducts integrated mineral exploration activities, including area surveys, geological exploration, geophysical exploration, geodetic surveys, drilling, physical and chemical analysis testing, mineral reserve and resource calculations, supported by the implementation of an integrated Geographic Information System (GIS).
The results of mineral exploration and estimation of mineral resources & ore reserves (inclusive) are
carried out by the Geomin Unit, consisting of ANTAM's exploration team with certification as Competent Persons Indonesia (CPI) - PERHAPI (Indonesian Mining Experts Association)/IAGI (Indonesian Geological Experts Association) specialized in Exploration Data, Mineral Resources Estimation, and Mineral Reserves Estimation, as well as members of the Australian Institute of Mining and Metallurgy (MAusIMM). The measurement basis for determining mineral reserves (inclusive) is based on detailed measured and indicated mineral resources with economic analysis measurements in line with assumptions specified in the Company's Long-Term Plan (RJPP) document and adjustments following mining operation conditions.
ANTAM's mineral reserves and resources in 2023 are as follows:
Reserves
Resources
For the information related exploration activity and estimation of ore reserves and mineral resources can be downloaded here.
Notes
wmt : wet metric ton
dmt : dry metric ton
