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Tujuh Bukit Copper Project Update

The Scope Study results confirm that the Tujuh Bukit Copper Project in Banyuwangi, East Java, Indonesia, is a world-class underground copper and gold mine. Based on historical drilling and 83,594 meters of drilling since 2017, the Scope Study was prepared independently by leading Australian technical consultant, Orelogy, with significant contributions from specialist consultants Stantec, DRA, Ausenco, and Hatch. The Tujuh Bukit Copper Project has Mineral Resources of 1,784Mt at 0.46% copper and 0.50 g/t gold containing 8.2Mt copper and 28.6Moz gold, including an Indicated Resource of 372Mt at 0.61% copper and 0 .68 g/t gold—Indicated Resource increase expected to produced in 1Q 2023. The mine life is estimated to be up to 40 years with an estimated Life of Mine (LOM) production of 2.9Mt of copper and 10.1Moz of gold. Pre-production capital investment is estimated at US$2.1 billion, including 25% contingency. For more information see our Press Release.

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