MDKA books US$ 199 million in first half revenue
JAKARTA - PT Merdeka Copper Gold Tbk (MDKA) recorded positive financial and operational performance during the first half of 2020. MDKA recorded revenues of US$ 199 million, up 3.7% from the previous year's US$ 192 million (year on year - yoy), and a net profit of US$ 35.42 million during the first half.
"The company understands that throughout the first half of 2020, and for the foreseeable future, the COVID-19 pandemic will continue to be a challenge and affect the national economy. Amid these challenges, MDKA continues to implement health and safety protocols to strengthen its position as a gold producer. This is reflected in the positive business performance in Semester I 2020," said Merdeka Copper Gold President Director Tri Boewono during a Virtual Public Expose in Jakarta, Tuesday (15/9).
As of Semester I 2020, MDKA has succeeded in carrying out positive business fundamentals. MDKA gold production reached 108,823 ounces and copper of 2,926 tons.
To date, MDKA operates two production mining assets, the Tujuh Bukit gold mine (PT Bumi Suksesindo / BSI) and the Wetar copper mine (PT Batutua Kharisma Permai / BKP and PT Batuatua Tembaga Raya / BTR), and developed three projects: the Tujuh Bukit Copper Project (PT Bumi Suksesindo / BSI), JV Pani Gold Project (JV MDKA and J Resources), and Wetar / Morowali Acid Iron Metal (“AIM”) Project (JV MDKA and Eternal Tsingshan Group Limited (“Tsingshan”), as well as acting as a mining service provider through PT Merdeka Mining Servis (MMS). (LM)