ANTAM and The Geological Agency of the Ministry of Energy and Mineral Resources Synergize in Geological Research and Development
Bandung, 12 January 2017 - PT ANTAM (Persero) Tbk (ASX: ATM; IDX: ANTM; ANTAM) is pleased to announce the Company and the Geological Agency of the Ministry of Energy and Mineral Resources have signed a Memorandum of Understanding (MoU) in Geological Research and Development. The MoU is signed today, January 12th, 2017, by the ANTAM’s President Director Tedy Badrujaman and the Head of Geological Agency of the Ministry of Energy and Mineral Resources Ego Syahrial, in the Auditorium of the Museum of Geology, Jalan Diponegoro No. 57 Bandung.
The signing of the MoU affirms both institution’s commitment to cooperate in the research and development of geological exploration technology, especially related to metal mineral resources, especially gold. The MoU is also expected to benefit both institutions.
Head of Geology Agency, Ego Syahrial, says, one of the policy of the Ministry of Energy and Mineral Resources is to increase the ability in supplying energy and mineral resources through the development of exploration and production, starting with exploration, the reserves discovery and exploitation. As such, when exploration activity declines, new mineral discovery and production is also expected to decrease.
As one of the Ministry of Energy and Mineral Resources’ division, the Geology Agency is tasked to conduct research and development activities to generate database in the upstream sector of metal and minerals. The database will be used as reference for recommendation of work area issuance as well as the development of base metals business (gold, silver, copper, iron, manganese and other alternative metals) in general and gold in particular. In 2015 the Geological Agency identified that Indonesia had the potential of 6,513 tons of gold resources and 2,537 tons of gold reserves.
ANTAM’s President Director, Tedy Badrujaman said, " The MoU is a strategic synergy in strengthening the capability in geology of both institutions. ANTAM, through its Geomin Unit, has more than 30 years of experience in mining exploration, notably in high value mineral such as nickel, gold and bauxite. The cooperation in geological research and development with the Geological Agency will increase ANTAM’s portfolio in producing high quality product, having experienced human resources as well as providing service excellence. "
As a natural resources based company, ANTAM considers the discovery of new reserves is important in ensuring the Company’s sustainability. As such, exploration activity is part of the Company’s long-term investment. ANTAM expects to benefit from the exploration research information to increase the success rate of new discovery.
The MoU, covering 2016-2021, is important as the foundation in establishing technical cooperation between both institutions. The cooperation is divided into two phase:
