Merdeka begins tender to select contractor to build mine facilities

By Thomas Sembiring

IDX-listed gold and copper mining company PT Merdeka Copper Gold Tbk has started tender process to select construction firm that would develop infrastructure facilities at its Bukit Tujuh mine in Banyuwangi, East Java, as the company aims to start production next year.

Company Corporate Secretary Elli Turjandi said that three Australian firms including Como Engineers Pty Ltd, Contromation Ltd, and FL Smidth have submitted their bids.

?They all have submitted (bids). We?re now in the process of evaluating them,? Elli said on Friday, adding that the process is expected to be completed in two months, and Merdeka will select proposal that has the most environmentally-friendly design and competitive price.

Merdeka has recently launched an initial public offering (IPO), offering 12 percent of its shares to the public, raising about US$63 million, making it as the first mining firm still under exploration stage to go public in Indonesia.

The company plans to start production in the fourth quarter of next year, targeting annual production of 900,000 troy ounces of gold and 1 million troy ounces of copper.

Editing by Reiner Simanjuntak