PT Meares Soputan Mining (MSM)

PT Archi Indonesia Tbk owns gold mining business through its wholly-owned subsidiaries, PT Meares Soputan Mining (MSM) and PT Tambang Tondano Nusajaya (TTN), both which are the holders of the Contract of Works (CoWs) of the 40,000 hectares of mining concessions located in North Sulawesi, Indonesia.

Established in 1986, PT Meares Soputan Mining (MSM), 100%-owned by PT Archi Indonesia Tbk, is the holder of the ‘4th Generation’ Contract of Work. The CoW of MSM was successfully renegotiated in December 2015 so as the CoW is valid until 2041, and have been guaranteed two more extensions, each for maximum period of 10 years.

MSM has a very prospective concession area of 8,969 hectares. Currently, MSM continues to carry out exploration, development and production of mineral resources, especially gold, in its Contract of Work area. Currently, MSM operates and mines out gold reserves from 3 open pits within its concession area, including Toka Tindung pit, Marawuwung pit and Araren pit.