Pt Merdeka Copper Gold Tbk · IDX:MDKA
Pt Merdeka Copper Gold Tbk — Investor Presentation (June 2024)
33 slides from Pt Merdeka Copper Gold Tbk's investor presentation, June 2024
Slide 1: Merdeka Copper Gold Investor Presentation
MERDEKA COPPER GOLD INVESTOR PRESENTATION June 2024 IDX: MDKA I www.merdekacoppergold.com Investor Presentation – June 2024
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 w
Slide 3: Portfolio Overview
PORTFOLIO OVERVIEW Merdeka controls a portfolio of globally significant assets across Indonesia with group mineral resources containing: TUJUH BUKIT COPPER PROJECT 36.4Moz 8.5Mt 13.8Mt 1.0Mt GOLD COPPER NICKEL COBALT SCM MINE Ownership: 100% Ownership: 51.0% Status: Optimisation studies Resources: 1
Slide 4: Corporate Structure
CORPORATE STRUCTURE Thohir Group Other Merdeka Shareholders 5% 44% Other MBM Shareholders IDX: MDKA 7.6% 50.0% 42.4% JV partner on mine, JV partner for HPAL plants processing facilities and IKIP IDX: MBMA 4 Investor Presentation – June 2024
Slide 5: Major Shareholders
MAJOR SHAREHOLDERS •Provident, Major Saratoga and the Thohir Group have a long history of co-investments with a proven track record in building Shareholders multi-billion-dollar companies, and attracting high quality institutional investors Thohir Group • Provident has created and driven the success
Slide 6: Pani Gold Project
PANI GOLD PROJECT Pani is currently under construction and will be one of the largest gold mines in Asia Pacific upon achieving full design production capacity 70% 6.9Moz Ownership Contained gold resources 2025 5.5Moz Expected first gold Indicated gold resources production from heap- leach operation
Slide 7: Economic Highlights
ECONOMIC HIGHLIGHTS Pani is expected to deliver robust project economics and attractive returns Indicative Financial Metrics US$2.6b US$840m US$6.2b 40% Post-tax NPV8 Average revenue per annum Cumulative Free cash flow IRR US$550m ~US$250m ~US$600 & 900/oz Average EBITDA per annum Upfront capital Ca
Slide 8: Production Highlights
PRODUCTION HIGHLIGHTS Pani is expected to deliver robust returns with a cumulative LOM gold production of 4.7Moz Key Operational Metrics 191Mt 19.0Mtpa ~90% 500,000oz Ore mined Peak processing capacity Average gold recoveries Peak gold production Pani Production Plan Heap leach CIL 2025 2026 2027 20
Slide 9: One of the Largest Undeveloped Gold Mines in APAC
ONE OF THE LARGEST UNDEVELOPED GOLD MINES IN APAC Pani is a low-cost gold development project with target production in excess of 500,000 ounces of gold per annum • One of the Largest Undeveloped Gold Mines in APAC Top 20 Gold Mines in Asia Pacific by Total Contained Gold 2.5 2.0 Havieron Gum Creek
Slide 10: Pani Development Progress
PANI DEVELOPMENT PROGRESS Pre-development construction activities continued across the site, with the development of independent access roads Road Access to Site Access Road Mining Open Pit Site Access Road Road Access to Mining Open Pit 10 Investor Presentation – June 2024
Slide 11: Pani Development Progress continued
PANI DEVELOPMENT PROGRESS continued Establishment of accommodation facilities Office Accommodations 11 Investor Presentation – June 2024
Slide 12: Pani Development Progress continued
PANI DEVELOPMENT PROGRESS continued Supporting infrastructure and bypass bridges 12 Investor Presentation – June 2024
Slide 13: Tujuh Bukit Copper Project
TUJUH BUKIT COPPER PROJECT TB Copper is a globally significant, development ready, underground copper-gold porphyry project, convenient situated beneath Merdeka’s TB gold mine 100% 8.2Mt Ownership Contained copper resources PFS 27.9Moz Completed in May 2023 Contained gold resources UNDERGROUND Mine
Slide 14: Development Strategy
DEVELOPMENT STRATEGY The PFS demonstrates that TB Copper will be a globally significant underground mine extracting only 24% of the currently defined mineral resource 14 Investor Presentation – June 2024
Slide 15: TB Copper Is a Globally Significant Copper-Gold Deposit
TB COPPER IS A GLOBALLY SIGNIFICANT COPPER-GOLD DEPOSIT TB Copper is anticipated to be a low-cost and long-life operation with a 1st quartile cost copper operation Globally Significant Copper Mines by Copper and Gold Grade 2.5 : Size indicates resource, Ore tonnage (tonnes) 2.0 Khoemacau Resource Go
Slide 16: Competitive Cycle-Proof Cost Structure
COMPETITIVE “CYCLE-PROOF” COST STRUCTURE TB Copper is anticipated to be a low-cost, long-life operation with a 1st quartile AISC of US$1.0/lb net of gold credits – Competitive •favourably positioned“Cycle-Proof” Cost compared to peer SLC Structure and block caving operations Global Copper Cost Curve
Slide 17: TB Gold Mine
TB GOLD MINE TB gold mine was developed by Merdeka’s inhouse construction team and has been in continuous production since 2017 delivering over one million cumulative ounces of gold 24,139oz US$1,065/oz Gold produced in Q1 2024 Cash cost in Q1 2024 100-120koz ~US$950/oz 2024 production guidance 2024
Slide 18: Wetar Copper / Pyrite Mine
WETAR COPPER / PYRITE MINE Wetar is a mature operation with a highly valuable stockpile of pyrite ore – capable for reprocessing at the AIM plant to extract a multiple suite of non-ferrous products 3,065t US$2.67/lb Copper produced in Q1 2024 Cash cost in Q1 2024 14,000-16,000t US$3.35-4/lb 2024 pro
Slide 19: Overview of MBM Assets
OVERVIEW OF MBM ASSETS MBM assets are strategically located in central Sulawesi, Indonesia’s battery materials hub SCM Mine Mineral resource of 1.1 billion dmt containing 13.8Mt of nickel (77% limonite) and 1.0Mt of cobalt HPAL Processing Developing multiple HPAL plants in partnership with leading b
Slide 20: SCM Mine
SCM MINE The SCM Mine was discovered by Rio Tinto in 2000 and is regarded as one of the world’s largest nickel deposits • SCM Mine Overview 51% 65Mtpa Multi-decade MBMA Ore production Mine life ownership target 1.1 billion dry metric tonnes (dmt) containing 13.8Mt Resources of nickel and 1.0Mt of co
Slide 21: SCM Mine Haul Road
SCM MINE HAUL ROAD MBM owns a dedicated haul road linking the mine site to IMIP facilitating consistent ore delivery 21 Investor Presentation – June 2024
Slide 22: SCM Mine – Huayou FPP
SCM MINE – HUAYOU FPP Huayou feed preparation plant, situated within the SCM Mine concession area, and underground slurry pipeline is now operational FPP Area FPP Facilities (camp, warehouse, workshop, office) FPP Area Camp 22 Investor Presentation – June 2024
Slide 23: HPAL Development Plan
HPAL DEVELOPMENT PLAN MBM is developing multiple HPAL processing plants in partnership with leading battery material companies JV with CATL JV with GEM (PT ESG New Energy Material) 67% 60ktpa End 2027 60% 30ktpa End 2024 MBMA Nameplate capacity Target project MBMA Nameplate capacity Target project o
Slide 24: PT ESG HPAL Overview
PT ESG HPAL OVERVIEW PT ESG is a brownfield HPAL expansion project, adjacent to QMB, an existing, profitable HPAL plant operated by GEM Ramp up Profile Capital Cost JV Partner Profile ~US$600m STAGE 1 STAGE 2 20ktpa +10ktpa + working capital. GEM Nameplate capacity Nameplate capacity committed to co
Slide 25: PT ESG Site Photo
PT ESG SITE PHOTO Construction is advancing ahead of anticipated project commissioning in Q4 2024 HPAL plant construction progress PT ESG autoclave 25 Investor Presentation – June 2024
Slide 26: RKEF Plants Overview
RKEF PLANTS OVERVIEW MBM operates three RKEF plants producing low-cost NPI for the stainless steel and battery material markets Overview 50.1% 88ktpa 2020 MBMA Nameplate capacity Achieved commercial ownership (Ni MHP) production Product Nickel pig iron containing ~12% nickel Saprolite nickel ore at
Slide 27: Nickel Matte Overview
NICKEL MATTE OVERVIEW HNMI produces a high-grade nickel matte product enabling MBM to capture the additional margin to NPI Overview LGNM Facility HNMI 60% 50ktpa 2022 MBMA Avg. production Achieved commercial ownership (Ni matte) production Processing Facility Product High-grade nickel matte containi
Slide 28: AIM Plant Overview
AIM PLANT OVERVIEW AIM is a highly strategic asset – well positioned to benefit from the growth in acid demand expected as additional HPAL plants are constructed at IMIP and across Indonesia Overview 80% 1.2Mtpa 2024 MBMA Acid production Achieved commercial ownership production Acid and steam (used
Slide 29: Capturing the Entire Battery Value Chain
CAPTURING THE ENTIRE BATTERY VALUE CHAIN MBM is a vertically integrated operation with existing, profitable nickel processing facilities and near term production from HPAL plants to capture the full battery materials value chain Limonite, Acid, SCM Mine AIM Plant Limestone Mine Steam, Limestone 3RD
Slide 30: Commitment to Sustainability
COMMITMENT TO SUSTAINABILITY ‘A’ Top Quartile ESG Sector Leader ESG Leaders Index MSCI ESG Rating Sustainalytics ESG IDX Kehati MSCI Indonesia Risk Rating IDX KEHATI Index constituents Index consists of large and mid-cap Highest rating received by an Indonesian Metals Metals & Mining Companies repre
Slide 31: Summary
SUMMARY Established and proven Strong Indonesian Transformational growth Commitment to sustainability, nickel, gold and copper shareholder support with projects supporting the safety, environmental production capability a proven track record of clean energy transition protection and corporate value
Slide 32: Thank you
Thank you investor.relations@merdekacoppergold.com www.merdekacoppergold.com Investor Presentation – June 2024
Slide 33: 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 President Director CEO & Vice Chairman & Director Director CFO & Director Director Commercial and External Affairs Constr
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