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PT Archi Indonesia Tbk (IDX: ARCI) Public Expose 2025 19 June 2025
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General Company Overview
Gold Mining:
- PT Meares Soputan Mining (“PT MSM”)
- PT Tambang Tondano Nusajaya (“PT TTN”)
Mining Contractor:
Operating Subsidiary & Associates - PT Geopersada Mulia Abadi (“PT GMA”)
Gold Refiner & Gold Bar / Minted Bar Producer:
- PT Elang Mulia Abadi Sempurna (“PT EMAS”)
Geothermal:
- PT Toka Tindung Geothermal (“PT TTG”)
Mining Location North Sulawesi, Indonesia
Operation History Commenced mining operations in 2009, first gold production in 2011
39,817 hectares Contract of Work (“CoW”) expires in 2041 &
Concession
extendable as an IUPK for another 2x10 years
Date of Stock Listing 28 June 2021 through Indonesia Stock Exchange (IDX)
Current Mining Method Open pit and Underground
Processing Capacity 4.0 Mtpa Plant Project Optimization is ongoing
Toka Tindung Gold
Mine
Head Office
Jakarta
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Key Highlights – FY 2024
1 The Company strived booking net positive earning results while resiliently recovering from natural disaster at Araren pit in April
2024,
Below summarizes the Company’s Operational & Financial performance for 2024 vs 2023:
• Gold production volume 93.4 koz vs 123.3 koz ( 24.2%)
• Gold sold volume 97.1 koz vs 120.6 koz ( 19.5%);
• Revenue US$287.6m vs US$249.6m ( 15.2%);
• EBITDA US$79.1m vs US$85.1m ( 7.1%); and
• Net Income US$10.4m vs US$14.8m ( 29.7%).
2 Total net debt(1) was US$400.0m and the debt to equity ratio (“DER”) was 1.47x as of 31 December 2024.
3 Capex realized totalling US$91.8 million during the year, mainly represents development for mining infrastructure.
4 Underground mining first blast at Kopra pit & accelerate the preparation of developing new pit.
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The Company established PT TTG a joint venture Company in the renewable energy (Geothermal) sector with PT Ormat
Geothermal Indonesia.
Note: (1) Net debt is calculated as the total balance of interest bearing debt reduced by current restricted cash in relation to Debt Service.
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Milestones
• Proven track record of exploration activities and gold reserves and resources discoveries
• Sustainable operational growth through multi production pits, processing plant capacity expansion, as well as various cost efficiency initiatives
• Expanding business lines to become an Integrated Gold Mining business
• Obtaining a new Long Term Syndicated
Loan Facility for the mine development “ACCELERATING GROWTH WITH GOLDEN OPPORTUNITIES”
• Achieved gold poured more than 200 koz • PT EMAS successful run the refinery
• Increased plant capacity to 2.1 Mtpa plant on 3rd Quarter 23
• Appointed and developed a local company, PT SMA, as a mining contractor
2025
• PT MSM & PT TTN were one of the first
companies to complete the Contract of • Completed IPO and listed in IDX
2024
Works renegotiation, pursuant to the new • Increased plant capacity reaching 4.0 Mtpa
Mining Regulations
• Opening of Araren pit, which contained 2023
• Established PT GMA as main mining contractor, with
higher grade of gold reserves
more effective and cost efficient fleet. • Establishment of
2022 PT TTG
• Additional of 1.6 moz of Ore Reserves
• First gold pouring of 61 koz
• Initiated project in Western Corridor • First Blast
2021
Underground
Mining at Kopra
2020 Pit
• Establishment of PT • Increased plant capacity to more than 3.0 Mtpa
Archi Indonesia
2019
• Establishment of PT EMAS as downstream
2018 line expansion for trading and • Remediation of
manufacturing gold minted bar, pendant, Araren Pit on
2017 medallion, and refinery businesses schedule
• Additional of 941 koz of Ore Reserves • Feasibility Study of
2016 Plant Improvement
2015
2011 • Achieved gold poured more than 250 koz Project.
2010
Source: Company information (as of 31st December 2024)
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Exploration Updates
Comparative Gold Intercepts in Q3’24
2024 Exploration Realization of US$9.4m
Diamond Drilling (DD) Reverse Circulation (RC) Total
Total Total Total
Total Drill Meters(m) Total Drill Meters(m) Total Drill Meters(m)
Holes Drill Holes Drill Holes Drill
212 52,357 215 23,450 427 75,807
• Exploration activities are focused on the increasing of the additional reserves/resources
discoveries within the concession area especially from Eastern and Western Corridor
area.
• The Company intensively conducts the exploration drilling which result to the high grade
identification at some areas. These indication of high grade exploration drilling were
identified especially in the Northern part of Eastern Corridor - Exceptional drilling
intercept in Q3’24 resulted the high grade of 36m interval at 60g/t from 178m to
214m depth.
• The Company is currently exploring further to identify the continuity of the vein
extensions. In parallel, the Company intensively conducts infill exploration drilling to
accelerate the conversion of additional ore resources & reserves.
• With Kopra underground phase 1 commenced, the Company has also identified the
continuity of gold vein for further underground potential.
• Recently, the Company is also requested to present the Exploration Discovery at the
NewGenGold Conference 18-19 November 2025 in Perth, Australia.
Source : Miner Deck, October 2024
Source: Company information
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Downstream Business – Mining Contractor Services – PT GMA
PT GMA was established in 2020, whereby the Company owned 25% of its stakes
through PT Jasa Pertambangan Perkasa.
Within less than 3 (three) years, PT GMA has expanded its operation & became the
main mining contractor for the Toka Tindung Gold Mine.
PT GMA existing fleet has the capacity to mine ~45 MT p.a of material and currently PT
GMA is also looking for expanding its business to another mining site area.
List Assets of 2024 Total Unit
Mine Heavy Equipment 92
Other Supporting Unit 60
Total 152
Source: Company information
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Downstream Business – Gold Refiner & Gold Bar / Minted Bar Producer – PT EMAS
Taping into Downstream Market - Minted Bar Business PT EMAS Total Revenue
• PT EMAS, established as a JV Company in 2019 between Archi Group & (US$ mn) 78.2
Lotus Group*.
72.4
• First product launch is “Emas Merah Putih”, Proudly Made Indonesia, a
gold bar product equipped with CertiEye barcode security.
• Other products launched such as paper gold, mini gold and customized minted
bar/pendant. 2023 2024
• PT EMAS is also producing gold bars in 250g, 500g, and 1kg with a purity of
999.9 and duly certified by SNI.
Refinery & Trading Business
• PT EMAS expanded its business into Refinery and Trading Business.
• The Refinery facilities has 30 tons per annum gold refining capacity.
• Several gold mining companies in Indonesia has continuously refine their Dore
Bullion (which is typically mixture of gold and silver) to 99.99% gold & 99.95%
silver granules at PT EMAS Refinery facilities.
Key Achievement:
• Collaborated with Warner Bros for products with theme of Justice League,
Harry Potter, Looney Tunes, etc.
• Collaborated with Disney for product with theme of Monster Inc., Toy Story
and UP!, Tsum Tsum, etc.
Future Plan
• New product launch for 2026 international event
*one of Indonesia’s major players in gold jewelry market with extensive outreach locally and
internationally
Source: Company information
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Geothermal Business – PT Toka Tindung Geothermal
Entering to Getothermal Power Plant Business
• PT TTG is a JV Company between PT Archi Indonesia Tbk and PT Ormat
Geothermal Indonesia (“Ormat”), established in 2024.
• Ormat is a leading renewable energy provider with a strong track record in
geothermal and energy storage, having built approximately 190 power plants
and installed around 3,400 MW of geothermal and REG (Recovered Energy
Generation) capacity to date.
• PT TTG obtained its Geothermal Permit in June 2025.
Project Location
• Bitung City, Ranowulu District, Pinasungkulan Sub district.
Capacity Target
• 40 Mega Watt (MW).
Next Plan
• Obtain Environmental Permit.
• Further exploration to confirm temperature and resource size.
Source: Company information
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Underground Opening in 2024
Underground Opening (5th December 2024)
On December 5, 2024, ARCI had its
underground first blast at Kopra pit, marking
the start of its underground mining
development
Underground Current Progress as of June 2025
As of 2nd week of June 2025, Total our
underground development are approx. 425
meters
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CSR & Awards
• First 1000 days of life program
HEALTH • Integrated Healthcare Center (2024: 1,728 person)
• Integrated care for the Elderly (2024: 428 person)
• Scholarship (2024: 31 person)
EDUCATION • Early Childhood Education (2024: 20 Schools)
• Integrated agribusiness of coconut, corn (2024: 16
Farmers group)
ECONOMIC • Poultry cultivation
• Garment Cooperative
• Cattle livestock assistance
• Worship facilities and/or infrastructure as well as
SOCIAL CULTURE relations in the religious sector
• Participation in preserving local culture and wisdom
• Clean water program
INFRASTRUCTURE • Chicken coop construction
• Renovation of school/building/classrooms
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Business Prospects & Focuses 2025
1 Gold production target to grow ~25 – 30 %.
2 Expanding to develop and mine at new pit.
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Accelerate the development of underground mining at Kopra pit and identify other underground potentials.
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Intensively and sustainably conducts the exploration activity on the greenfield/brownfield area.
5 Improvement in gold recovery.
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For Further Information, please contact:
Archi Indonesia – Head Office
Thank You! RAJAWALI PLACE, 27th Floor
Jl. HR Rasuna Said Kav. B/4, Setiabudi
Jakarta Selatan, DKI Jakarta, 12910, Indonesia
Phone : +62 21 576 1719
Email : corsec@archimining.com
Website : www.archiindonesia.com
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Names mentioned 20 people and organisations named in the text · linked when the evidence is strong
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PT Meares Soputan Mining
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PT MSM
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PT Tambang Tondano Nusajaya
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PT TTN
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PT Geopersada Mulia Abadi
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PT GMA
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PT Elang Mulia Abadi Sempurna
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PT Toka Tindung Geothermal
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PT TTG
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Indonesia Stock Exchange
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PT Ormat Geothermal Indonesia. Note
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PT SMA
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PT Jasa Pertambangan Perkasa.
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PT EMAS Taping
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PT EMAS Refinery
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Monster Inc.
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PT Toka Tindung Geothermal Entering
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PT Ormat Geothermal Indonesia
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