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Toka Tindung Gold Mine
The Toka Tindung Gold Mine is one of the largest gold mining operation in Southeast Asia. In 2011, this mining site poured its first gold and up until 2020, Toka Tindung Gold Mine has produced of approximately 1.9 million ounces of gold.
Gold produced increased from 134 koz in 2012 (the first full commercial production year) to 207 koz in 2020 and will continue to increase production in accordance with the 5-year Life of Mine (LOM) plan made in 2018. The Toka Tindung Gold Mine is one of the most cost competitive gold producers globally according to CRU, as we it is placed at the bottom of the first quartile of the global All-in Sustaining Cost (AISC) curve in 2019.
The Toka Gold Mine is operated within two Contract of Work (CoW) currently held by Archi’s wholly-owned subsidiaries, PT Meares Soputan Mining (MSM) and PT Tambang Tondano Nusajaya (TTN). MSM and TTN are the first CoW holders to sign a “Change of Contract of Work” which means both CoWs are valid until 2041, and have been guaranteed two more extensions, each for maximum period of 10 years. Archi has also fulfilled all the obligations of the Indonesian Mining Law regulation.
Toka Tindung Gold Mine is an open gold mine located approximately 35 km Northeast of Manado in North Sulawesi, Indonesia. It is currently mines using open pits method, consisting of Toka Tindung in the northern part of Eastern Corridor, and Araren and Kopra in the southern part of Eastern Corridor. Currently, Archi has only explored less than 10% of the total concessions area, and started in 2020, the Company has started exploring the Western Corridor which possesses great potential upside of Ore Reserves.
Archi also has processing plant with an installed processing capacity of 3.6 million tons per year as of 31 December 2020, with expansion plans to increase capacity to reach 8.0 million tons in by end of 2025.
PT Archi Indonesia Tbk – Exploration Report_June 2021