Mining company PT Agincourt Resources has allocated a commitment of approximately US$29 million or equivalent to Rp457.91 billion for the closure of the Martabe Gold Mine area in North Sumatra, after the contract ends in 2033.
These post-mining closure calculations are based on the latest figures from 2020. “We already have an updated plan for the mine closure in 2020, with an estimated cost of around US$29 million that we will allocate for post-mining activities approximately 10 years from now,” said Environmental Manager of PT Agincourt Resources, Mahmud Subagya, on the sidelines of the National ESG Seminar in Jakarta on Friday, January 26, 2024.
Mahmud added that data for mine closure guarantees have begun to be submitted to the Ministry of Energy and Mineral Resources (ESDM). This data will be submitted up to 3 years before the mine closure. Up to now, according to Mahmud, the company has reclaimed approximately 40 hectares of mining land, out of a concession area of around 608 hectares as of December 2023.
The Martabe Gold Mine area is based on a sixth-generation 30-year contract with the Indonesian government, which will expire in 2033. The total area covers 130,252 hectares or 1,303 km², including North Sumatra’s regencies of South Tapanuli, Central Tapanuli, North Tapanuli, and Mandailing Natal.
The operational area of the Martabe Gold Mine in South Tapanuli regency covers an area of 509 hectares as of January 2022. The Martabe Gold Mine began full production on July 24, 2012, and has a resource base of 6.2 million ounces of gold and 59 million ounces of silver as of September 30, 2023. The operational capacity of the Martabe Gold Mine is more than 7 million tons of ore per year to produce more than 200,000 ounces of gold and 1-2 million ounces of silver per year.
