Antam Explores Opportunities for Gold Exploration in Saudi Arabia

Jakarta (ANTARA) - PT Aneka Tambang Tbk (Antam) has reaffirmed its commitment to broadening its gold resource development strategy by exploring opportunities abroad, including in Saudi Arabia.

Antam’s President Director, Untung Budiharto, stated that the company has registered for the auction of a gold prospect block in the Gulf country.

“Antam is currently exploring overseas exploration opportunities, which we are undertaking in Saudi Arabia,” he said during a meeting with Commission VI of the House of Representatives in Jakarta on Tuesday.

He added that Antam has participated in the bidding for a new exploration block in Saudi Arabia. The auction registration has been completed, but the process is delayed due to the geopolitical situation in the Middle East.

In addition to pursuing overseas exploration opportunities, he noted that the company is also conducting organic exploration in existing mining business licence (IUP) areas, participating in government tenders for Gold Mining Business Licence Areas (WIUP), and forming joint ventures with the Geological Agency to identify new domestic prospects.

Beyond the gold sector, Untung stated that Antam is also strengthening its bauxite business through the second phase of the Smelter Grade Alumina Refinery (SGAR) project, undertaken jointly with PT Indonesia Asahan Aluminium (Inalum).

This project is integrated with plans to build an aluminium smelter in Mempawah, West Kalimantan.