ANTAM Spends Rp134.39B on Gold, Nickel and Bauxite Exploration Through September
Key Takeaways
- ANTAM's unaudited preliminary exploration cost to 30 September 2026 was Rp134.39 billion, spread across gold, nickel and bauxite.
- Gold work at Pongkor in West Java centred on deep drilling and in-mine drilling, backed by petrographic, mineragraphic and fluid inclusion analysis.
- Nickel exploration covered five areas, with drilling at North Konawe, Pomalaa and Marimoi and an ERT geophysical survey at North Konawe.
- Lililef Sawai remains in preparation pending forestry permits and RKAB approval, and PT SDA is still completing forestry permitting.
- The report discloses no drilling results, grades, resource or reserve figures, or timelines, so it describes activity rather than outcomes.
ANTAM reports Rp134.39 billion exploration spend across gold, nickel and bauxite
PT ANTAM (Persero) Tbk has reported that its exploration activities to 30 September 2026 carried a total unaudited preliminary cost of Rp134.39 billion. The ANTAM exploration report covers gold, nickel and bauxite.
The report, dated 9 October 2026, was issued by ANTAM (IDX: ANTM; ASX: ATM) in accordance with the Indonesia Stock Exchange listing rules. For investors tracking ANTAM ASX: ATM, it signals continued spending on the resource base behind its three focus commodities.
The announcement does not split the cost by commodity. The work spans three areas:
- Gold: Pongkor, West Java
- Nickel: Southeast Sulawesi and North Maluku
- Bauxite: West Kalimantan
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Where is ANTAM exploration active?
Gold: deep drilling at Pongkor
Gold exploration was conducted in Pongkor, West Java. Activities focused on deep drilling, in-mine drilling, geological mapping, traverse surveying, drill core logging and sampling, and rock sampling.
Samples were also prepared and sent for laboratory analysis, alongside petrographic, mineragraphic and fluid inclusion analysis, as required for evaluation purposes. These are specialist tests that examine rock and mineral samples in detail.
Nickel: five project areas
Nickel work covered North Konawe and Pomalaa in Southeast Sulawesi, plus Marimoi, Lililef Sawai and the Mining Business Permit (IUP) area of subsidiary PT Sumberdaya Arindo (PT SDA) in Buli, North Maluku.
Single-tube drilling took place at North Konawe, Pomalaa and Marimoi. North Konawe also included an Electrical Resistivity Tomography (ERT) geophysical survey.
Two areas are earlier in the pipeline. PT SDA focused on completing the forestry permitting process for exploration activities, while Lililef Sawai remained in the preparation stage, in line with the required forestry permits and RKAB approval. Activities in both areas included maintenance of drilling units and exploration support facilities.
Bauxite: Tayan and Landak
Bauxite exploration was conducted in Tayan and Landak, West Kalimantan. Tayan activities included single-tube drilling, laterite profile logging and washed bauxite measurements.
Landak activities included drilling, logging, sample collection and washing, and exploration data processing.
| Commodity | Location | Key activities | Status/notes |
|---|---|---|---|
| Gold | Pongkor, West Java | Deep drilling, in-mine drilling, geological mapping, sampling, laboratory analysis | Petrographic, mineragraphic and fluid inclusion analysis as required for evaluation purposes |
| Nickel | North Konawe and Pomalaa (Southeast Sulawesi); Marimoi | Single-tube drilling; ERT geophysical survey at North Konawe | Active exploration work |
| Nickel | Lililef Sawai; PT SDA IUP area, Buli (North Maluku) | Maintenance of drilling units and exploration support facilities | PT SDA completing forestry permitting; Lililef Sawai in preparation stage pending forestry permits and RKAB approval |
| Bauxite | Tayan and Landak (West Kalimantan) | Single-tube drilling, laterite profile logging, washed bauxite measurements (Tayan); drilling, logging, sampling, data processing (Landak) | Active exploration work |
How does exploration underpin ANTAM’s resource base?
Exploration is how a miner finds out what it has in the ground. Drilling extracts rock samples, sampling and laboratory analysis measure what those samples contain, and the results feed the calculation of mineral resources and reserves.
ANTAM undertakes this work through its Geomin Unit, which runs integrated mineral exploration supported by an integrated Geographic Information System (GIS). The stated purpose is to ensure the adequacy of the Company’s strategic mineral resources and reserves potential.
The Geomin Unit’s activities include:
- Area survey activities
- Geological exploration
- Geophysical exploration
- Geodesy survey
- Drilling
- Physical and chemical analysis
- Calculation of mineral reserves and resources
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What should investors watch?
Continued exploration spending across gold, nickel and bauxite supports the long-term replenishment of the resource base. That is the core point for you: this report describes activity, not results.
The announcement discloses no drilling results, grades, or resource and reserve figures, and gives no timelines. Items worth monitoring include:
- Forestry permits and RKAB approval for Lililef Sawai
- Completion of forestry permitting for PT SDA
- Any future resource or reserve updates
Competent Person note: The information relating to Exploration Results, Mineral Resources or Ore Reserves was compiled by Mr. Bronto Sutopo, a full-time ANTAM employee and Member of The Australasian Institute of Mining and Metallurgy, under the 2012 Edition of the JORC Code.
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