Pt Merdeka Copper Gold Tbk · IDX:MDKA
Pt Merdeka Copper Gold Tbk — Investor Day (May 2019)
22 slides from Pt Merdeka Copper Gold Tbk's investor day presentation, May 16, 2019
Slide 1: Wetar Project
Wetar Project Peter Johnston, GM - Operations Investor Day 16 May 2019 PT Merdeka Copper Gold Tbk. 1
Slide 2: Development History
Development History Billeton Operation Finders Feasibility Merdeka Operation (1990 To 1997) and Operation • Gold equivalent • Feasibility study • Takeover bid production of completed in 2010 launched Q4 2017 600,000 AuEq and updated in • Control achieved ounces 2013. end of Q1 2018. • Focused on • S
Slide 3: Location
Location Eastern Indonesia - Maluku Province Northern side of Wetar Island. Wetar is x approx 150 km by x 50km. Populations is approx 8000. Personnel commute via air from Bali to Alor (3 hrs) & boat from Alor to Wetar 6 hrs) PT Merdeka Copper Gold Tbk. 3
Slide 4: Tenement Locations
Tenement Locations PT Merdeka Copper Gold Tbk. 4
Slide 5: Snapshot
Snapshot Mining Method Conventional Open Pit Metals Copper Mineralisation Volcanic Massive Sulphide Type (“VMS”) Process Method Sulphide Heap leach Plant Capacity - Crushing Expanding to 2 Mtpa - SX/EW Cu 25,000 t pa Recovery 60-73% Mineral Resources 196 Kt Cu Mineral Reserves 93 Kt Cu Workforce 800
Slide 6: Safety and Environment
Safety and Environment Safety 4 million hours (453 days) LTI free. Good safety system and culture. Focus on Front Line Supervision training and behavior focus. Environment Spending US$ 3 M to de-risk storm water management. Application of environmental engineering design and closure concep
Slide 7: Human Resources
Human Resources Department Total • Circa 800 Contractors Management 6 • Recruiting owner mining teams Commercial 49 • 30% local Wetar Island staff External Affairs 67 • Turnover 1% per month average Processing - LP 61 Processing - Met 30 Processing - Ops 80 OHSET 38 Supply Chain 54 Maintenance 194 M
Slide 8: Process Schematic
Process Schematic PT Merdeka Copper Gold Tbk. 8
Slide 9: Open Pit Mining
Open Pit Mining • Low strip ratio, positive reconciliation. • Legacy geotechnical issues at Kali Kuning pit – pit SUMMARY Tonnes Grade %Cu Contained Cu finishes Q2 19. ORE RESERVE 5,638,658 2.27 127,822 • Transitioning from Kali Kuning pit to Lerokis pit TOTAL MINE CALL 6,294,343 2.39 150,634 during
Slide 10: Heap Leaching
Heap Leaching • Ore crushed to -18 mm and stacked to heap leach pads using grasshoppers and trucks. • Irrigated and aerated for + 720 days. Unique sulphide leach generates acid from water irrigation. • Existing crusher system limited capacity and unreliable. New crusher being commissioned July 19. •
Slide 11: Leach Recovery Curves
Leach Recovery Curves PT Merdeka Copper Gold Tbk. 11
Slide 12: Heap Leaching Performance
Heap Leaching Performance PT Merdeka Copper Gold Tbk. Focus on % area under irrigation 12
Slide 13: SX/EW Process Plant
SX/EW Process Plant • Heap leach solution containing copper is extracted with Solvent Extraction (“SX/EW”). • The efficiency of extraction has been affected by high acid levels (+ 45 g/l). • Neutralization plant operation has been significantly improved and will be expanded in H1 2019. • Electrowinn
Slide 14: Acid Neutralisation Plant
Acid Neutralisation Plant • Filter expansion commissioned May 19 • Increase 150 to 200 tpd acid neutralisation • Reduce solution free acid 50 to 30 gm/l • Increase SX transfer extraction 45 to 65 +% • Reduce inventory Cu, increase production. PT Merdeka Copper Gold Tbk. 14
Slide 15: Turn Around and Improvement Initiatives
Turn Around and Improvement Initiatives Copper Production 2017 Production (23 kt) 30,000 - Stacked 17 kt cu of dump leach material - Heaps developed with inadequate aeration 20,000 - Low acid levels 10,000 2018 Turnaround (17 kt) 0 - Re-handle dump leach, re-install aeration 2016 2017 2018 2019 2020
Slide 16: Operational Performance
Operational Performance Unit 2017 Actual 2018 Actual 7000 Mining 6500 Ore Mined M Tonnes 1,884 1,588 6000 Waste Mined M Tonnes 1,366 1.409 5500 Mined Grade Cu % 2.09 2.98 5000 Contained Metal Cu t 39,384 47,272 4500 4000 Heap Leach 3500 Ore Crushed / Stacked M Tonnes 1,944 1,692 3000 Grade Stacked C
Slide 17: Development Layout Plan
Development Layout Plan • Kali kuning pit finishes Q2 2019, plan is to use as leach pads Partalong – Resource Definition Ongoing • Lerokis commences Q2 2019 and continues through to 2021 • Plan to commence production from Partolang Q3 2020 • 2-3 year mine life, pending reserve. Lerokis Pit starts Ka
Slide 18: Lerokis Development
Lerokis Development • Mining commenced March 19 and first ore April 19 • 2.7Mt at 2.8% for 76 Kt Cu reserve • Low strip ratio • LOM plan to Q4 20 - Q1 21 • Crush at Lerokis and 15 km road truck haul to plant • Heap leach and process at KK facility • Similar to KK ores, however higher Zn values • Col
Slide 19: Partolang Conceptual Plan-Wetar Next Mine
Partolang Conceptual Plan-Wetar Next Mine PT Merdeka Copper Gold Tbk. 19
Slide 20: Production, Cost and Capital Guidance
Production, Cost and Capital Guidance 2019 Guidance Copper Production 21,000 to 25,000 tonnes AISC US$ 1.30 to US$ 1.50 Sustaining Capital US$ 8 to US$ 9 million Growth Capital US$ 10 to US$ 11 million Resource definition and discovery US$ 3 million PT Merdeka Copper Gold Tbk. 20
Slide 21: Appendix
Appendix. SITE PHOTO – OCEAN SIDE FACILITIES
Slide 22: Appendix
Appendix. SITE PHOTO – OCEAN SIDE FACILITIES