MDKA - Expects positive contribution from Tujuh Bukit mine

MDKA - Expects positive contribution from Tujuh Bukit mine Merdeka Copper Gold (MDKA) expects positive contributions from its Tujuh Bukit mine in Banyuwangi, East Java, which would start contributing by around 2026-2027 or another 4 years from now. MDKA also expects the mine to be operating for the next 20-30 years. Note that, MDKA' Tujuh Bukit mine has one of the world's biggest copper reserves that is still underdeveloped. Currently, the mine is still in the process of advanced exploration that has started since 2018, which MDKA has spent USD100 mn for the ongoing exploration process. On the mining method, that MDKA would use in Tujuh Bukit mine is going to be quite complex as Tujuh Bukit is an underground mine. In 9M23, MDKA' revenue reached USD1.17 bn (+86.92% yoy), but booked a net loss of USD23.77 mn. (Source : Bisnis Indonesia)