Merdeka to select mining contractor next year

By Thomas Sembiring

IDX-listed Merdeka Copper Gold Tbk plans to hold tender in the first or second quarter of next year to select mining contractor to develop its Bukit Tujuh gold mine in Banyuwangi, East Java.

?At least, in the first or second quarter we?ll make the (tender) announcement, Corporate Secretary Ellie Turjandi said on Monday.

According to 2012 JORC, the Bukit Tujuh mine holds ore reserves of 90 million tons in its oxide layer. The project is expected to produce 90,000 ounces of gold and 300,000 oz of silver per year from fourth quarter 2016 to 2025.

Editing by Reiner Simanjuntak