The Jakarta Post
The Martabe gold mine in North Sumatra – the only gold mine in the province – was awarded the rank of Platinum at the 2019 Asia Sustainability Reporting Rating (ASRRAT) event in Nusa Dua, Bali, on Saturday.
The mine, managed by PT Agincourt Resources, achieved the rank for strides it had made in sustainable operations detailed in the 2018 Martabe Gold Mine Sustainability Report. Agincourt Resource is linked to the diversified conglomerate Astra Group through its subsidiary, publicly listed heavy equipment distributor United Tractors.
Agincourt Resources president director Muliady Sutio said the Platinum rank was the highest award that the company had received since the mine began production in 2012. He said the company received nods in 2016 and 2017 before it won the Gold rank in 2018.
“We are very proud that we’ve finally achieved the Platinum rank at the 2019 ASRRAT. This is the highest award that the company has achieved thus far,” Muliady told the press via telephone after the event in Bali.
The ASRRAT is an annual awards ceremony acknowledging companies that have made a Sustainability Report (SR) held by the National Center for Sustainability Reporting since 2005. Fifty companies from Indonesia, Malaysia, Singapore, the Philippines and Bangladesh participated in this year’s event.
Muliady said Agincourt Resources strove to improve the standards of its report and commit to sustainable business growth. The 2018 Sustainable Report was the fifth such report that the company had published, he said.
“The 2018 report focuses on the company’s production performance and other supporting elements, such as social and environmental impact,” he added.
Agincourt Resources CEO Tim Duffy said he saw a commendable performance and significant financial contribution as the Martabe gold mine had paid US$126 million in government taxes and royalties.
On the exploration side, Tim said the mine had improved its production results, selling 412,000 ounces of gold and 3.31 million oz of silver throughout 2018 – an increase from the 352,000 of gold and 2.39 of silver sold in 2017.
He expected the company’s current performance to prolong the mine’s lifespan.
The Martabe gold mine in Batang Toru, South Tapanuli regency, has obtained a 30-year production deal with the government. The mine, which began production in 2012, is expected to maintain operations until 2033.
PT Danusa Tambang Nusantara – a subsidiary of publicly listed heavy equipment distributor PT United Tractors – previously acquired 95 percent of Agincourt Resources’ stocks for $1 million. (rfa)