The Largest in ASEAN, This is How Much Gold Reserves Exist in North Minahasa, Indonesia

INTERNATIONAL, RBTVDISWAY.ID - The Toka Tindung gold mine in North Minahasa Regency, North Sulawesi, is the largest gold mine in the ASEAN region.

This mine continues to grow in line with the potential discovery of ore reserves at the site.

The mine is located in a hilly area, approximately 2.5 hours by car from Manado, and is managed by PT Archi Indonesia Tbk (ARCI). Archi is part of PT Rajawali Corporation, a company owned by entrepreneur Peter Sondakh.

Archi manages the Toka Tindung Gold Mine through its subsidiaries, PT Meares Soputan Mining and PT Tambang Tondano Nusajaya.

The company, which recently listed on the Indonesia Stock Exchange (IDX) on June 28, 2021, aims to manage its gold business from upstream to downstream.

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At this gold mine, Archi owns approximately 40,000 hectares of concession area, consisting of 31,000 hectares owned by the Tondano Nusajaya Mine and 9,000 hectares by Meares Soputan Mining.

Both companies hold Contracts of Work (CoW) for this mining area until 2041.

However, Archi has only explored and mined gold in approximately 10 percent of its total concession area, primarily in the Eastern Corridor.

Four blocks within this mining area are operated using open-pit mining methods: the Toka Block, the Kopra Block, the Alaskar Block, and the Araren Block.

The Araren Block is the largest pit with the highest gold grade compared to other pits at the Toka Tindung gold mine.

The Araren Block covers approximately 1 kilometer and has a gold grade of over 3 grams per ton of material, compared to the average grade at this mine of approximately 2 grams per ton of material.

By the end of 2020, gold reserves in the eastern corridor reached 3.9 million ounces and were JORC certified, meaning they were economically feasible.

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