Merdeka Battery Reveals Latest Developments in Nickel Exploration at SCM

PT Merdeka Battery Materials Tbk (MBMA) continues exploration activities with a focus on nickel resources in Sulawesi Cahaya Mineral (SCM). Where in the second quarter of 2023, a subsidiary of PT Merdeka Copper Gold Tbk (MDKA) owned by Garibaldi Thohir has poured out quite a large amount of exploration funds.

GM Legal/Corporate Sectretary of PT Merdeka Battery Materials Tbk Deny Greviartana Wijaya said the total estimated exploration costs incurred for the SCM project or mine in the April to June period were IDR 31.3 billion. Consists of drilling the life of mine resources and associated test work. The area is the SCM project, Konawe, Southeast Sulawesi.

The areas selected for the exploratory drilling program are areas that are close to the current mine pits and in accordance with future mining plans.

“A total of 304 drill holes have been completed with a total of 8,178 meters during the second quarter of 2023,” he said in the IDX information disclosure quoted on Wednesday (12/7).

All work was completed by PT Sulawesi Cahaya Mineral. The next follow-up plan is that the diamond drilling program will continue using 15 drill rigs for resource and exploration drilling.

Merdeka Battery Materials said Deny has several high-quality business assets in the strategic mineral value chain. As well as raw materials for electric motorized vehicles located in Central Sulawesi and Southeast Sulawesi.

Image source: MBMA