JAKARTA. PT Archi Indonesia Tbk (ARCI) allots the capital expenditure of USD 70 to 80 million, equivalent to IDR 1 to 1.2 trillion to be channelled into exploration activities.
Corporate Secretary of Archi Indonesia, Harry Margaran, claims that his company always focuses on increasing gold production through exploration. It would subsequently raise the capacity of the processing plant.
For the said exploration activities, this pure-play gold producer had prepared the CapEx of IDR 1 to 1.2 trillion. The company has also reached for its internal cash to meet the said CapEx budget.
By the end of December 2020, Archi had explored and mined less than 10% of the total concessions of 40,000 Ha. Thus, in 2021 and 2022, Archi would direct its energy to explore the near-mine area and the Western Corridor of Toka Tindung Mine, located 35 km northeast of Manado, North Sulawesi.
Archi would also pay attention to those two areas as they could potentially provide additional and substantial gold ore reserves to the company. “Archi aims to realise the said gold reserves within the next five years,” Margaran plans, as quoted in Bisnis last week. (AM/ZH)