History & Key Milestones – Archi Indonesia

History & Milestones

As one of largest gold mining companies in Indonesia, Archi has a long and proud history in carrying out exploration, discovery, development and operational activities.

PT Meares Soputan Mining (MSM) was incorporated

1986

PT Meares Soputan Mining (MSM) was incorporated

1997

Conducted a revised Feasibility study at Toka Tindung Gold Mine

2005

• Rajawali Group acquired a non-controlling minority stake in Archipelago Resources PLC
• Rajawali Group acquired a controlling interest in Archipelago Resources PLC
• Commenced mining operation at Toka Tindung Gold Mine with waste removal
• Commenced construction of the Processing Plant and infrastructure

2009

PT Archi Indonesia (Archi) was incorporated

2010

• First ore mined at Toka Tindung gold mine in January
• Completed the construction of the Processing Plant, followed by the first gold poured in April

2011

Rajawali Group privatized Archipelago Resources PLC and delisted Archipelago Resources PLC from the Alternative Investment Market of the London Stock Exchange Plc

2013

Pursuant to a restructuring, which acquired ARPTE from Archipelago Resources PLC, which owns 95.0% of MSM and TTN

2014

Renegotiated Contract of Work (CoW) for MSM and TTN

2015

• Pursuant to another restructuring, which acquired 95.0% of MSM and TTN. ARPTE now owns 5.0% of MSM and TTN
• Reached gold production above 200koz
• Increased Processing Plant to 2.1 Mtpa

2016

Commenced a 3.0 Mtpa expansion project for the Processing Plant

2017

• Directly owned 99.5% of MSM and TTN, and ARPTE owned 0.5% of MSM and TTN
• Completed expansion of the Processing Plant to exceed 3.0 Mtpa
• Enhanced exploration drilling program and increased exploration equipment to 17 rigs so to quickly identify additional Ore Reserves

2018

• Expanded business into the downstream sector (gold minting bar)
• Added an additional 941koz of Ore Reserves in the Eastern Corridor

2019

• Engaged an associate and joint venture company, PT Geopersada Mulia Abadi (GMA), as the new mining contractor supported with a larger mining fleet
• Utilized electrified water pumps to replace diesel pumping to improve cost efficiency

2020

• Listed on Indonesia Stock Exchange (Initial Public Offering / IPO)
• Increased plant capacity reaching 4.0 Mtpa

2021

History & Milestones

As one of the largest gold mining companies in Indonesia, Archi has a long and proud history in carrying out exploration, discovery, development and operational activities.

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