Pt Merdeka Copper Gold Tbk · IDX:MDKA
Pt Merdeka Copper Gold Tbk — 30th CITIC CLSA Investors' Forum 2023
33 slides from Pt Merdeka Copper Gold Tbk's conference presentation, Sep 11, 2023
Slide 1: 30th CITIC CLSA Investors' Forum
30th CITIC CLSA Investors’ Forum Click to edit Master text styles Hong Kong 11th – 14th September 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: Major Shareholders
Major 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 Hard
Slide 5: Corporate Structure
Corporate Structure Key Indonesian Shareholders Other Merdeka Thohir Group Shareholders 5% 44% IDX: MDKA Other MBM Shareholders 7.5% 49.9% 42.6% 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$5.5 / US$7.4 billion1 250.0 4,000 Avg. Daily Traded Value Value Traded (
Slide 7: Tujuh Bukit Gold Mine
Tujuh Bukit Gold Mine Mine Information Operational Highlights Mining Method Conventional open pit Production for 2Q 2023 was 38,447 ounces of gold at an AISC of Metals Gold and silver US$1,060/oz. YTD gold production was 64,277 ounces of gold at an AISC of US$1,141/oz Mineralisation Type High sulphi
Slide 8: Wetar Copper Mine
Wetar Copper Mine Mine Information Operational Highlights Mining Method Conventional open pit Production for 2Q 2023 was 3,128 tonnes of copper at an AISC of Metals Copper US$4.91/lb. YTD copper production was 7,181 tonnes of copper at an AISC of US$4.87/lb Mineralisation Type Volcanogenic massive s
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 Milestones
TB Copper Project Milestones Since 2017, Merdeka has invested US$167 million in TB Copper feasibility work, including the development of an 1,890 metres long exploration decline, over 150,000 metres of resource definition drilling, completion of extensive independent studies that include mine design
Slide 11: 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 11
Slide 12: 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 Large scale, long life Modelled mine production of 404Mt for the PFS SLC and BC mines deliver an initial mine life of 30
Slide 13: 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 14: Pani Gold Project
Pani Gold Project Combined Pani Gold Project Schematic Section Pani is expected to be a long-life and low-cost gold mine producing more than 450,000 ounces of gold per annum upon achieving maximum throughput A combined mineral resource estimate was declared in February 2023 and further upgraded in M
Slide 15: Pani Development Plan
Pani Development Plan The Feasibility Study is assessing two processing methods for Pani, both well-understood and recognised as industry standard processing methods, for a combined nameplate capacity of 21Mtpa Heap leach metallurgical 7Mtpa plant Geotechnical 140kozpa gold test work program investi
Slide 16: Pani Development Progress
Pani Development Progress All study scope of works associated with permitting, processing, mining and tailings handling are well advanced. PLN grid power supply agreement signed Heap Leach Conceptual Layout (August 2023) Carbon-in-Leach Processing Plant (August 2023) 16
Slide 17: Pani Development Progress (cont.)
Pani Development Progress (cont.) (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 17
Slide 18: Overview of MBM Assets
Overview of MBM Assets MBM’s assets are strategically located in central Sulawesi, Indonesia’s battery materials hub 51% SCM Mine • Mineral resource of 1.1 billion dmt Central and Southeast Sulawesi containing 13.8Mt nickel (77% limonite) and 1.0Mt cobalt 66% HPALs • Developing multiple HPAL plants
Slide 19: SCM Mine
SCM Mine One of the world’s largest JORC nickel resources SCM Mine Snapshot Mining Concession 1.1 billion dmt containing 13.8Mt Resources1 of nickel and 1.0Mt of cobalt 188 million dmt containing 2.4Mt Reserves2 of nickel and 0.2Mt of cobalt Ore Type 77% limonite / 23% saprolite Mine Life Multi deca
Slide 20: SCM Mine Haul Road
SCM Mine Haul Road The dedicated haul road upgrade linking the mine site to IMIP is now complete and saprolite ore haulage has commenced 20
Slide 21: SCM Mine Haul Road (cont.)
SCM Mine Haul Road (cont.) In mid August, MBM loaded the first shipment of saprolite ore onto haulage trucks for delivery to IMIP RKEF plants 21
Slide 22: RKEF Plants
RKEF Plants CSI and BSI plants have been fully operational since late 2019 and a larger 3rd plant, ZHN, completed commissioning during the quarter Operational Highlights CSI BSI ZHN • ZHN will more than double MBM’s RKEF processing capacity from 38,000 to 88,000 tonnes per annum of nickel in NPI • Z
Slide 23: Nickel Matte Overview
Nickel Matte Overview HNMI produces a high-grade nickel matte product enabling MBM to capture the additional margin to NPI Simplified Flow Diagram 60% 40% RKEFs Converter Nickel matte is an intermediate product that is used to produce nickel sulphate, an integral CSI, BSI and HNMI component of the b
Slide 24: Capturing the Entire Battery Value Chain
Capturing the Entire 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 Mine AIM
Slide 25: AIM Project
AIM Project AIM is a significant growth opportunity for MBMA 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 Three
Slide 26: AIM Project (cont.)
AIM Project (cont.) AIM will begin operations by 2H 2023 and ramp up towards nameplate acid production of 1.2Mtpa. Construction is nearing completion with a shift to operational readiness 26
Slide 27: 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 28: 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 utilise green energy from November a contribution Renewable electricity from geothermal sources. 2022. towards h
Slide 29: Summary
Summary Commitment to Established and Strong Indonesian Multiple sustainability, safety, proven nickel, gold shareholder support transformational environmental and copper production with a proven track growth projects in protection and capability record of value place to support the corporate social
Slide 30: For more information, please contact or visit
Click to edit Master text styles For more information, please contact or visit investor.relations@merdekacoppergold.com www.merdekacoppergold.com 30
Slide 31: Competent Person's Statements
Click to edit Master text styles Competent Person’s Statements 31
Slide 32: 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 33: 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
PT Merdeka Copper Gold — 30th CITIC CLSA Investors' Forum 2023 on 6ix