Besides Grasberg, Papua Indonesia Still Has Gold Mines

INTERNATIONAL, RBTVDISWAY.ID - Indonesia still holds a number of untapped gold mines, particularly in Papua.

In addition to PT Freeport Indonesia's Grasberg Mine in Mimika, Papua also has the Wabu Block mine in Intan Jaya.

The Wabu Block is a gold mining area in Intan Jaya previously managed by PT Freeport Indonesia. Its potential is around 8.1 million ounces, making it one of the largest gold reserves in Indonesia.

Alpha Research Database researcher Ferdy Hasiman believes that this gold treasure not only has large reserve potential but also one of the highest gold grades.

"The Wabu Block is one of the mines that was shortlisted as a result of the recent contract renegotiation with Freeport. It is one of the mines with the highest gold grade in Indonesia, at 1.16 per gram," he said.

However, its ownership status remains unclear. After PT Freeport Indonesia relinquished its ownership in 2018, the government has yet to hand over management of the Wabu Block to anyone.

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According to Law Number 4 of 2009, priority for managing the Wabu Block is given to state-owned enterprises (BUMN) or regionally-owned enterprises (BUMD).

However, several investors have yet to appear due to several obstacles, ranging from land use to the high threat of violence in the Intan Jaya area.

"I just know the risks are significant. Issues with land use and spatial planning in Intan Jaya are what make it difficult for investors to enter," said Ferdy.

"The Wabu Block has the largest reserves in Intan Jaya, Papua. Its content and calorie content are also high. However, the cultural structure there is too complex. Violence also makes entry difficult," he added.

Indonesia's Gold Mountain Produces Millions of Ounces of Precious Metal

For the record, Indonesia has been recognized as one of the ten largest gold-producing countries in the world.

This was revealed in a report issued by the Investing News Network, which referred to data from the United States Geological Survey (USGS).

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