Whoa! RI Treasure Collection Increases, Found 2 Billion Tons of Gold and Copper in NTB : Okezone Economy

JAKARTA – Treasure in Indonesia again increased after the discovery of potential copper resources-it’s not Onto in Hu’u District, Dompu Regency, West Nusa Tenggara.

This mineral resource is projected to have a potential of more than 2 billion tons, higher than the discovery in December 2019.

“This latest estimate of the potential of mineral resources strengthens our belief that Onto’s mineral resources have the potential to be developed into a world-class copper mining operation,” said PT Sumbawa Timur Mining (STM) President Director Bede Evans in a press conference, Thursday (21/4/ 2022).

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The mineral resource potential of Onto is part of the Hu’u Project owned by STM which is the holder of the 7th generation Contract of Work (COW) which was signed by the Government of Indonesia on February 19, 1998.

Evans continued, the increase in the potential of Onto’s mineral resources by 0.4 Mt is the result of the hard work, support and commitment of the team at the Hu’u Project over the past two years.

In detail, the estimated mineral resource potential as of December 2021 has a total indicated mineral resource potential of 1.1 billion tons (Mt) @ 0.96% Cu (Copper) and 0.58 g/t Au (Gold) and a total Inferred mineral resource potential of 1.0 Mt @ 0.7% Cu and 0.4 g/t Au.

“This latest estimate has also provided optimism for STM shareholders and the entire STM team, but with caution as the Hu’u Project progresses to enter a further stage of project development,” said Evans.