Focus on Building a Sustainable Mine, Agincourt Resources Review Production Plans

Fokus Bangun Tambang Berkelanjutan, Agincourt Resources Tinjau Rencana Produksi

PT Agincourt Resources is currently reviewing production plans in line with the company’s focus on biodiversity management.
Ruli Tanio, Deputy President Director of Agincourt Resources, said that the Martabe Gold Mine is currently reducing production rates for the development of a number of aspects.

“Currently conducting a review, then applying the principles of sustainable mining. This year we are trying to reach 200 thousand ounces. A decrease from last year’s around 286 thousand ounces,” said Ruli when met in Yogyakarta, Saturday (1/4).

Ruli added that this year’s gold price movement is predicted to be better than last year. Agincourt projects that the gold price this year will be around US$ 1,800 per ounce.
Although he did not elaborate, Ruli ensured that his party was optimistic that this year’s financial target could be achieved despite a decline in production. “Indeed there is a bit of distortion because we have reduced the production rate, but in general this target can be achieved,” said Ruli.

In order to smoothen plans for this year, Agincourt has allocated capital expenditure in the range of US$ 100 million to US$ 150 million. These funds are used to repair the processing plant to exploration.
Meanwhile, in 2022 Agincourt posted gold sales of 286.4 million ounces with revenues reaching US$ 516.1 million. Agincourt’s net profit after tax last year was US$ 242.6 million.

Meanwhile, processing plant performance in 2022 is quite positive. It was recorded that 6.75 million tons of ore were milled throughout 2022. The total gold production in 2022 reached 259.157 ounces and 1.52 million tons of silver.


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