Pt Merdeka Copper Gold Tbk · IDX:MDKA
Pt Merdeka Copper Gold Tbk — J.P. Morgan ASEAN Energy & Metals Forum 2023
35 slides from Pt Merdeka Copper Gold Tbk's conference presentation, Jul 11, 2023
Slide 1: J.P. Morgan ASEAN Energy & Metals Forum
Click to edit Master text styles J.P. Morgan ASEAN Energy & Metals Forum 11th July 2023 IDX: MDKA I www.merdekacoppergold.com 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by PT Merdeka Copper Gold Tbk (“Merdeka” or “MDKA”) and consists of written materials/slides for a presentation concerning Merdeka. By reviewing/attending this presentation, you agree to be bound by the following considerations: No representation or war
Slide 3: Portfolio Overview
Portfolio Overview Merdeka controls a portfolio of globally significant assets across Indonesia with group mineral resources of 35.2Moz of gold, 8.4Mt of copper, 13.8Mt of nickel and 1.0Mt of cobalt Legend: Mine & Downstream Processing1 Acid Iron Metal (AIM) Project : Merdeka Copper Gold assets Owne
Slide 4: Investments Major Shareholders
Key Shareholders Provident, Saratoga and the Thohir Group have a long history of co-investments with a proven track record in building value through multi-billion-dollar companies, as well as attracting international institutional investors Edwin Soeryadjaya Michael Soeryadjaya Winato Kartono Hardi
Slide 5: Corporate Structure
Corporate Structure Key Indonesian Shareholders Other Merdeka Thohir Group Shareholders 5% 44% IDX: MDKA Other MBM Shareholders 7.6% 49.7% 42.7% IDX: MBMA JV partner on mine, processing facilities and IKIP 5
Slide 6: Corporate Snapshot
Corporate Snapshot Merdeka has a unique growth pipeline and a proven track record of value creation Share Price Performance Since IPO 6,000 350.0 Market Capitalisation / Value (USD M) Enterprise Value Share Price 300.0 5,000 US$4.9 / US$5.9 billion1 250.0 4,000 Avg. Daily Traded Value ~US$13 million
Slide 7: Tujuh Bukit Gold Mine
Tujuh Bukit Gold Mine Production Information Operational Highlights Mining Method Conventional open pit Metals Gold and silver Production for 1Q 2023 was 25,830 ounces of gold Mineralisation Type High sulphidation epithermal Ore Reserves1 0.6 Moz cont. Au & 27 Moz cont. Ag Production guidance for 20
Slide 8: Wetar Copper Mine
Wetar Copper Mine Production Information Operational Highlights Mining Method Conventional open pit Metals Copper Production for 1Q 2023 was 4,053 tonnes of copper Mineralisation Type Volcanogenic massive sulphide (“VMS”) Ore Reserves1 127 kt cont. Cu Mineral Resources1 153 kt cont. Cu Production gu
Slide 9: TB Copper Project Overview
TB Copper Project Overview TB Copper, located beneath Merdeka’s operating Tujuh Bukit gold mine, is regarded as one of the world’s largest pre-production copper projects. PFS demonstrates technical and economic viability Globally Significant Copper Gold Deposit Mineral resources: 1.7bt containing 8.
Slide 10: TB Copper Project Development Strategy
TB Copper Project Development Strategy The PFS demonstrates that TB Copper will be a globally significant underground mine extracting only 24% of the currently defined mineral resource 10
Slide 11: TB Copper Project PFS Highlights
TB Copper Project PFS Highlights The PFS confirms attractive project economics for the development of a globally significant, long life, underground mine producing copper and gold 1 Based on total modelled mine production comprising 289.3Mt of probable reserve and 114.7Mt of inferred resource the La
Slide 12: Competitive “Cycle-Proof” Cost Structure
Competitive “Cycle-Proof” Cost Structure Tujuh Bukit Copper Project is anticipated to be a low-cost, long-life operation with a 1st quartile AISC of US$1.0/lb net of gold credits – favourably positioned compared to peer SLC and block caving operations US$/lb 12.0 Underground Open Pit/ Mixed Developm
Slide 13: Pani Gold Project
Pani Gold Project Pani is a significant gold project located across two adjacent Combined Pani Gold Project Schematic Section mining tenements1 in Gorontalo Province, Northern Sulawesi. Pani is expected to be a long-life and low-cost gold mine producing more than 450,000 ounces of gold per annum upo
Slide 14: Pani Gold Project (cont.)
Pani Gold Project (cont.) The Feasibility Study is assessing two processing methods (CIL and heap leach) for Pani, both well-understood and recognised as industry standard processing methods, for a combined nameplate capacity of 21Mtpa 7Mtpa plant Geotechnical 140kozpa gold Heap leach metallurgical
Slide 15: Pani Gold Project (cont.)
Pani Gold Project (cont.) Pre-development construction activities continued across the site, with the development of an independent access road, establishment of accommodation facilities, and supporting infrastructure Heap Leach Conceptual Layout (June 2023) Gravity/Carbon-in-Leach Processing Plant
Slide 16: Pani Gold Project (cont.)
Pani Gold Project (cont.) Pre-development construction activities continued across the site, with the development of an independent access road, establishment of accommodation facilities, and supporting infrastructure Bypass Road Pioneer Camp Core Shed Activities 16
Slide 17: MBM Overview
MBM Overview SCM and HPAL processing capabilities will be the main drivers of the business in the long-term to move further downstream in the EV battery value chain SCM Mine • Mineral resource of 1.1 billion dmt Central and Southeast Sulawesi containing 13.8Mt nickel (77% limonite) and 1.0Mt cobalt
Slide 18: Nickel Matte Overview
Nickel Matte Overview MBM’s acquisition of HNMI, a nickel matte conversion facility, located within IMIP, allows the business to transition its existing RKEF asset base to produce high grade nickel matte (>70% Ni content) HNMI produces a high-grade nickel Simplified Flow Diagram matte (HGNM) product
Slide 19: Capturing the Entire Nickel Battery Value Chain
Capturing the Entire Nickel Battery Value Chain Merdeka Battery Materials is a vertically integrated operation with existing profitable nickel processing facilities and planned HPAL plants to capture future battery materials value chain Limonite, Acid, Steam, Limestone Limestone 3rd Party HPAL SCM M
Slide 20: AIM Project
AIM Project AIM is a significant growth opportunity for Merdeka and is well positioned to benefit from the growth in acid demand expected as additional HPAL plants are constructed at IMIP and across Indonesia Wetar AIM High-grade pyrite (80%) (20%) (FeS2) feedstock from Raw Step One Step Two Step Th
Slide 21: AIM Project (cont.)
AIM Project (cont.) Acid Plant Chloride Plant Pyrite Plant Copper Cathode Plant Overview of AIM • The AIM Project will purchase high-grade pyrite ore from Wetar • The ore will be transported by barge from Wetar Island to IMIP • The AIM plant is designed to treat the pyrite ore from Wetar at a nomina
Slide 22: Commitment to Sustainability
Commitment to Sustainability Merdeka ESG Mission Select Merdeka ESG Initiatives Select Merdeka ESG Achievements July 2022 November 20221 January 20232 “Our Mission is … to be a leader in safety, environmental protection & corporate social • TCFD (Task Force on Climate Related responsibility … toward
Slide 23: GHG Emissions Reduction Roadmap
GHG Emissions Reduction Roadmap BASELINE STRATEGIES Achieving net Signed two agreements with PLNc for green electricity in zero by 2050 as Energy Substitution 2022, with the first site to utilize green energy from November a contribution Renewable electricity from geothermal sources. 2022. towards h
Slide 24: Summary
Summary Established and Strong Indonesian Well placed to deliver Strong balance sheet Commitment to proven gold and shareholders with a value to shareholders with the ability to sustainability, safety, copper production proven track record of through its access equity and environmental capability va
Slide 25: Click to edit Master text styles
Click to edit Master text styles For more information, please contact or visit investor.relations@merdekacoppergold.com www.merdekacoppergold.com 25
Slide 26: Appendix
Click to edit Master text styles Appendix 26
Slide 27: Management Team with a Proven Track Record
Management Team with a Proven Track Record Albert Saputro Jason Greive Andrew Starkey Gavin Caudle David Fowler Titien Supeno Eric Rahardja Boyke Abidin Peter Scanlon Luke Morris CEO & Vice Executive President Commercial and Title President Chairman & Director CFO & Director Director External Affair
Slide 28: Merdeka Project Developments Overview
Merdeka Project Developments Overview Merdeka is advancing multiple operations and growth projects through exploration, feasibility study and development phases Prior to 2022 2022 2023 2024 2025 2026 2027 Tujuh Bukit Future annual production guidance of 120,000 to 140,000 ounces of gold Produced fir
Slide 29: Select Merdeka Corporate Developments
Select Merdeka Corporate Developments Since IPO, Merdeka has engaged in a number of value adding acquisitions, as well as attracting blue chip international institutional investors and a consortium of high-quality lenders Tujuh 2012 2013-2015 2016 2017 2018 2019-2020 Acquired TB Drilling and feasibi
Slide 30: Indonesia’s Rich Resources and Supportive Government Makes it an Optimal Country for EV
Indonesia’s Rich Resources and Supportive Government Makes it an Optimal Country for EV Indonesia has established itself as the largest nickel producer globally underpinned by its large nickel resource base and strong government support allowing it develop into a global EV supply chain hub Indonesia
Slide 31: Established Partnerships with Global EV Battery Leaders
Established Partnerships with Global EV Battery Leaders Merdeka Battery Materials has strong strategic cooperation with CATL, Tsingshan and Huayou Cobalt, who are all major global players in the EV battery value chain • One of the world’s largest nickel and stainless-steel producers • World’s no.1 E
Slide 32: World’s Leading EV Players in Indonesia
World’s Leading EV Players in Indonesia Merdeka Battery Materials is well positioned as a leading supplier of EV battery precursors to capture future commercial opportunities with the world’s leading EV players • Launched the first locally made • Announced a US$6bn integrated EV IONIQ 5 in March 202
Slide 33: Competent Person’s Statements
Click to edit Master text styles Competent Person’s Statements 33
Slide 34: Merdeka Competent Person’s Statement
Merdeka Competent Person’s Statement The information in this report which relates to Exploration Activities and Exploration Results is based on, and fairly represents, information compiled by Mr. Zach Casley, BSc (Hons). Mr. Casley is full-time employee of PT Merdeka Copper Gold Tbk. Mr. Casley is a
Slide 35: SCM Mine Competent Person’s Statement
SCM Mine Competent Person’s Statement The information in this report that relates to Mineral Resources is based on information compiled by Mr. Mick Elias and Mr. Dmitry Pertel. Mr. Elias is a part-time employee of CSA Global Pty Ltd and Mr. Pertel is a full-time employee of AMC. Mr. Elias is a Fello
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