Statement on targeted exploration and development work
19 January 2024
This is an update to the statement made on 16 May 2023
PT Agincourt Resources (“PTAR”)1 has announced that it will shortly commence targeted exploration and development work at the Martabe Gold Mine (“Martabe”) in Sumatra, Indonesia. These activities have been approved by the operator following a comprehensive phase of detailed planning and preparation to map biodiversity-related risks and mitigation measures relating to Martabe’s operations.
The planned scope of work has been assessed by the Martabe Biodiversity Advisory Panel (“BAP”), a group of independent scientists who advise the mine and PTAR on biodiversity-related matters. The BAP has concluded that the planned exploration activities, in particular, are largely confined to site areas that have previously been explored, and can therefore proceed with adequate safety and mitigation measures in place. Further details on the BAP can be found here, together with information on their research findings, on-the-ground studies, and other related work conducted to assess the impact of the mine on the local ecosystem.
Please visit the PTAR website for more information and to read their statement in full.
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Please contact [email protected] for queries.
1 PTAR is a mining company based in Indonesia that is engaged in the exploration, mining, and processing of gold and silver ore. PTAR is indirectly majority owned by Jardine Matheson through its subsidiaries, Jardine Cycle & Carriage, PT Astra International Tbk and PT United Tractors Tbk. United Tractors Tbk owns 95% of the shares in PTAR, with the remaining shares owned by a regional state-owned enterprise. PTAR holds the concession for and operates the Martabe gold mine in Sumatra.