JAKARTA – PT Merdeka Mining Servis (MMS), a subsidiary of PT Merdeka Copper Gold Tbk (MDKA), would take over the refining and concentrating (smelting) plant project of IDR 216.70 billion. This project is given by PT Merdeka Tsingshan Indonesia (MTI), also controlled by MDKA.
Quoting the information disclosure on Thursday (30/9), Adi Adriansyah Sjoekri, Corporate Secretary of Merdeka Copper Gold, claims that this project would add extra value to the ores mined in Wetar Island, Maluku. Thus, it would subsequently increase MDKA’s financial performance as the parent company of these companies.
The workload handled by MMS involves manufacturing and installing a construction office and a camp with a capacity of 383 people, as well as monitoring the construction along with the engineering, procurement, and construction (EPC) contractor.
MTI’s authorised capital is reported to reach IDR 1.26 trillion, while its issued and paid-up capital amounts to IDR 315 billion. The shareholders consist of PT Batutua Pelita Investama (BPI) with 80% and Wealthy Source Holding Limited 20%. On the other hand, MMS records authorised capital of IDR 50 billion, with its issued and paid-up capital of IDR 35 billion. PT MDKA owns MMS by 99.99%, and PT Mitra Daya Mustika claims another 0.01%. (LK/ZH)