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Wetar Copper Mine

Copper plate processing at the Wetar Copper Mine, Wetar Island, Indonesia. [Photo: BKP-BTR]
The Wetar Copper Mine is operated by PT Batutua Kharisma Permai, holder of mining business permit for operation production of copper, gold and pyrite ores, and PT Batutua Tembaga Raya, holder of mining business permit for special operation production for the processing of mining products into copper cathode. The two companies (BKP-BTR) have been part of PT Merdeka Copper Gold Tbk since 2018 through the acquisition of Eastern Field Developments Limited, the majority owner of Finders Resource, an Australian mining company that previously operated BKP-BTR. The Wetar Copper Mine is located on Wetar Island, Southwest Maluku, and occupies an operating area of 2,733 hectares, about 1.07 percent of Wetar Island which has an area of 262,235 hectares.

As part of the Merdeka group that is committed to sustainable mining, BKP-BTR applies an efficient and environmentally friendly leaching method to extract copper content from the ore that is mined. Water consumption for mining operations originates from the Lurang River, with government permits and regularly monitored, is treated with a closed water system that recycles all the water needed for operations. BKP-BTR regularly monitors the quality of the environment: river and sea water near the estuary, as well as flora and fauna; and carry out progressive reclamation once each area is mined.

The presence of BKP-BTR on one of the remote island in Indonesia provides benefits for communities around the mine, especially in Lurang Village and Uhak Village. BKP-BTR provides electricity and clean water for 236 families in Lurang Village and 98 families in Uhak Village. In addition, BKP-BTR also employs more than 65 percent of the community around the mine and prioritizes local suppliers for operational needs. BKP-BTR also supports various social programs, from providing training, skills, and scholarships, to capacity building for local institutions and businesses, including the production and marketing of forest honey and cashews.

BKP-BTR who are highly committed to work safety have reached 14 million working hours without work accidents (January 2018–December 2021). Nearly 90 percent of the copper plate produced by the Wetar Copper Mine is exported abroad and the rest is marketed domestically.

To take advantage of the remaining mineral content that naturally cannot be extracted into copper but still has economic value, Merdeka formed the AIM (Acid, Iron, Metal) Project which will process the excess mineral content into an important raw material for batteries for green energy. The AIM project is run by PT Merdeka Tsingshan Indonesia which was founded by Merdeka with Eternal Tsingshan Group Limited, and is located in the Morowali industrial complex, Central Sulawesi. The existence of the AIM Project will increase production and extend the life of the Wetar Copper Mine.

Operational and Financial Performance
Unit201920202021Q3-2022
Open Pit Mining
Ore minedMt2.30.52.40.3
Waste minedMt3.82.411.13.8
Heap Leach Production
Ore crushed and stackedMt1.90.42.40.4
Recovered metalCu t16,7775,37719,0455,842
Financials
Cash costsUSD/lb1.293.411.702.61
All-in sustaining costsUSD/lb1.864.622.333.12
SalesUSD m10132162Published in December 2022
Operating EBITDAUSD m41(12)100Published in December 2022

The Wetar Copper Mine, which is operated by PT Batutua Kharisma Permai and PT Batutua Tembaga Raya (BKP-BTR) is located in Lurang Village, North Wetar District, Southwest Maluku Regency, Maluku Province.

Operated by:
PT Batutua Kharisma Permai and PT Batutua Tembaga Raya (BKP-BTR)

Merdeka share ownership:
BKP (30% + 70%) and BTR (99,99%)***

Year of operation:
2018 (operated by Merdeka)

Location:
Wetar Island, South-East Maluku, Indonesia

Mining method:
Conventional open pit

Metals:
Copper, gold, pyrite (Fe)

Mineralisation type:
Volcanogenic massive sulphide

Process method:
Sulphide heap leach

Plant capacity:
2.5 million tons (crushing and stacking);
25,000 tons/year (SX/EW)

Copper mineral reserves:
127,000 tons copper*

Copper mineral resources:
153,000 tons of copper contained*

Safety:
503,516 man-hours without Lost Time Injury**

Land rehabilitation:
1.71 hectares of land rehabilitated; 5,285 trees planted**

Notes:
* December 31, 2021
** September 30, 2022

*** October 31, 2022

Investor Presentation

2018

Prospectus

Exploration Report

Press Release

2022

Tujuh Bukit Copper Project Update1.1 MB17 October 2022Wetar Oct 2022 Exploration Results Release1.8 MB5 October 2022Merdeka Battery Materials Senior Leadership Appointments221.6 KB21 September 2022Press Release: Merdeka Announces 1H 2022 Results202.4 KB12 September 2022New Drilling Results from Tujuh Bukit Gold Mine Extend Known Mineralisation - 1 September 20221.5 MB1 September 2022Pani August 2022 Drill Results1.1 MB2 August 2022TB CP June 2022 Results Release2.0 MB4 July 2022Press Release: Merdeka Completes Pre-emptive Rights Issue – 19 May 2022159.9 KB19 May 2022Press Release: Merdeka Completes Investment in New RKEF Smelter – 19 May 2022160.3 KB19 May 2022Press Release: Merdeka Q1 2022 Results Recorded all-time high quarterly EBITDA – 17 May 2022196.4 KB17 May 2022Pani April 2022 Drill Results2.2 MB26 April 2022Press Release: Major Nickel Acquisition – 28 March 2022278.7 KB28 March 2022Press Release: PT Merdeka Copper Gold Tbk Successfully Issues a 3 Trillon Rupiah Bond – 15 March 2022141.9 KB15 March 2022Press Release: PT Merdeka Copper Gold Tbk Moves to 70% Economic Interest in the Pani Gold Project – 4 March 2022771.8 KB4 March 2022Siaran Pers: Hasil PT Merdeka Copper Gold Tbk 2021 Melampaui Target – 23 Februari 2022661.4 KB23 February 2022Press Release: Further Strong Drilling Results from Tujuh Bukit Copper Project – 11 February 20222.0 MB11 February 2022Press Release: Further Strong Drilling Results from the Wetar Copper Project, Partolang Barat Deposit – 2 February 20222.2 MB2 February 2022

2021

Press Release: Acquire Majority Interest in Pani Gold Project – 30 December 2021271.2 KB30 December 2021Press Release: Strategic Partnership with BRUNP CATL – 21 December 2021178.6 KB21 December 2021Siaran Pers: Hasil 9M 2021 – Peningkatan Produksi Peningkatan Keuangan – 30 November 2021630.2 KB30 November 2021Siaran Pers: Hasil H1 2021 – Peningkatan Produksi Peningkatan Keuangan – 25 Agustus 2021195.8 KB25 August 2021Press Release: Further Strong Drilling Results from Tujuh Bukit Copper Project – 4 August 20212.0 MB4 August 2021Press Release: Latest Drilling from Tujuh Bukit Copper Project – 14 June 20212.0 MB14 June 2021Press Release: Moves to 100% Ownership of the Wetar Copper Mine – 2 June 2021728.4 KB2 June 2021Siaran Pers: Hasil Q1 2021 – Posisi Keuangan Kuat dan Sehat – 19 Mei 2021628.4 KB19 May 2021Announcement: Update on Heap Leach Pad Incident and Reinstatement at Tujuh Bukit Gold Mine – 28 April 2021676.5 KB28 April 2021Press Release: Further Strong Drilling Results from Tujuh Bukit Copper Project – 30 March 20211.7 MB30 March 2021Siaran Pers: Perjanjian Usaha Patungan dengan Eternal Tsingshan Group Limited700.9 KB16 February 2021Tujuh Bukit Copper Drill Results Released – February 20211.9 MB3 February 2021Pemeringkatan Obligasi Berkelanjutan I Tahap I dan II Tahun 2020 – 7 Januari 2021146.1 KB8 January 2021Press Release: Continued Strong Drilling Results from Tujuh Bukit Copper Project – 3 February 20201.9 MB3 February 2020MDKA and PSAB Joint Announcement: Pani Gold Project477.0 KB6 January 2020

Information Disclosure

2022

Affiliated Transaction of Services Provision Agreement between MMS and GSM908.3 KB3 November 2022Affiliated Transaction of Contract of Design Engineering and Mining Construction Services between SCM and MMS991.5 KB21 October 2022Affiliated and Material Transaction of Capex Facility and Put Option670.5 KB2 September 2022Affiliated Transaction of Parent Support Facility Agreement between MDKA and MTI635.9 KB25 August 2022Material Transaction of Amendment and Restatement of the Bridge Facility Agreement between MDKA and MTI680.0 KB18 August 2022Material Transaction between MDKA and MBM5.8 MB2 August 2022Affiliated Transaction of Project Expansion Bridge Facility Agreement between MDKA and MTI959.1 KB1 August 2022Additional Capital Increase in HLN by BTA716.8 KB1 July 2022Affiliated Transaction of Shares' Sale and Purchase of JPI between BTA and HLN460.3 KB1 July 2022Second Amendment to the Conditional Advance of Capital Payment Agreement between the Company and BTA1.6 MB30 June 2022Amendment and/or Addition to the Disclosure of Information regarding Plan of Capital Increase without PreEmptive Rights Issuance321.2 KB7 June 2022First Amendment to the Conditional Advance of Capital Payment Agreement between the Company and BTA799.1 KB24 May 2022Affiliated Transaction of Loan Agreement between MDKA and PPM296.9 KB19 May 2022Proposed Capital Increase Without Pre-Emptive Rights Issuance570.6 KB4 May 2022Proposed Buyback of the Issued Shares374.7 KB4 May 2022Affiliated Transaction of Loan Agreement between MDKA and PBJ1.0 MB12 April 2022Affiliated Transaction of Loan Agreement between MDKA and ABI1.0 MB12 April 2022Material Transaction of the Conditional Advance of Capital Payment MDKA-BTA195.2 KB28 March 2022Material Transaction of the Conditional Shares Subscription of HLN217.1 KB28 March 2022Disclosure of Information on The Purchase of Partial Shares Owned by Lion Selection Asia Limited Shares in PT Pani Bersama Jaya by the Company926.6 KB4 March 2022Disclosure of Information on Completion of Conditional Shares Subscription Agreement dated 28 December 20211.8 MB4 March 2022Disclosure of Information of Affiliated Transactions MDKA & MTI (CAPEX Facility)729.5 KB7 February 2022Affiliated Transactions of Parent Support Facility Agreement between MDKA and MTI730.4 KB7 February 2022

2018

Announcement of Management Changes September 2018481.3 KB28 September 2022Announcement PANI Acquisition, November 20181.6 MB9 November 2018Disclosure Material Information with PT Bumi Suksesindo November 2018166.0 KB5 November 2018Disclosure Material Information - Acquisition of PANI Group, November 2018497.3 KB5 November 2018Disclosure Information in Relation to Affiliated Transaction November 2018 (1)497.3 KB5 November 2018Disclosure Information in Relation to Affiliated Transaction November 2018 (2)335.0 KB5 November 2018Disclosure Information in Relation to Affiliated Transaction October 2018557.2 KB22 October 2018Change of the composition of Board of Directors and Board of Commissioners September 2018625.1 KB24 September 2018Prospectus PUT I with Pre-Emptive Right August 20183.1 MB8 August 2018The Additional Information and or the Revision on the Summary of the Prospectus PUT I August 20181,017.8 KB8 August 2018Summary of Prospectus of PUT I with Pre-Emptive Right June 2018706.7 KB21 June 2018Disclosure Information on The Affiliated Transaction - Assignment of Sponsor Loan May 2018204.0 KB2 May 2018Disclosure Information on The Affiliated Transaction - Novation of Saratoga May 2018202.9 KB2 May 2018Disclosure Information on The Affiliated Transaction - Novation of Provident May 2018202.1 KB2 May 2018Disclosure Information on The Material Transaction - Put Option April 2018425.1 KB18 April 2018Disclosure Information on The Change of Business Activities April 2018154.1 KB12 April 2018The Disclosure of Additional Information in Relation to The Proposed Capital Increase with Pre-emptive Right Issuance April 201896.6 KB12 April 2018Disclosure Information on The Affiliated Transaction April 2018191.3 KB3 April 2018The Disclosure Information to the Shareholders of PT Merdeka Copper Gold Tbk in Relation to The Proposed Capital Increase with Pre-Emptive Rights Issuance March 2018134.6 KB22 March 2018Tujuh Bukit Oxide Project Update February 20181.3 MB27 February 2018
The photographic work of Sainuddin Arga (BSI) who became the Favorite Winner in the Earth Day photo competition.

Merdeka Employee Competitions

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