Transcript No Slide Title

INDONESIA GOLD RESOURCES AND
EXPLORATION CHALLENGES
(Source: Prihananto, 2011)
Dr. Arifudin Idrus
Department of Geological Engineering
Gadjah Mada University
E-mail address: [email protected]
Disampaikan pada ‘One-day Course: “Pemanfaatan dan Prospek
Sumberdaya Emas di Indonesia”; HMTG-UGM, 1 Oktober 2011
WHY GOLD?
• Part of human life since ~6,000 years ago
• Relatively minor occurrences, but widespread in geographic distribution
• Physical properties and valuable deposit
• Unique economic behavior (in both small and large scale)
GOLD PRODUCTION 1900-1989
(from various sources)
Dutch Colonial Era
Independence
50
Sukarno
|
Soeharto
30
Sumatra
CoW
20
Pacific War
10
Ertsberg
19
70
-7
9
19
80
-8
9
19
50
-5
9
19
60
-6
9
19
40
-4
9
19
20
-2
9
19
30
-3
9
0
19
00
-0
9
19
10
-1
9
Gold (tonnes)
40
GOLD DISTRICTS 1900-1989
Kalimantan
Alluvials
North Sulawesi
Mangani
Lebong
Ertsberg
Cikotok
INDONESIA GOLD PRODUCTION (1990-2010)
Gold
Price
(USD)
Source: ESDM (2011); KITCO (2011)
250.0
1,500.00
230.0
1,400.00
224.7
1,300.00
210.0
1,200.00
187.1
Gold Production
(Tonnes)
190.0
1,100.00
172.1
170.0
163.1
1,000.00
159.3
150.0
900.00
133.0
130.0
124.0
127.8
124.0
800.00
116.3
109.8
110.0
700.00
97.7
600.00
90.0
90.0
83.6
500.00
70.0
62.8
400.00
50.0
43.3
42.6
300.00
38.2
29.1
30.0
200.00
16.0
11.7
10.0
Gold Production
(Tonnes)
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
11.7
16.0
38.2
43.3
42.6
62.8
83.6
90.0
124.0
133.0
124.0
224.7
187.1
172.1
127.8
163.1
116.3
159.3
29.1
97.7
109.8
Gold Price (USD) 385.51 362.11 343.82 359.77 384.00 383.79 387.81 331.02 294.24 278.98 279.11 271.04 309.73 363.38 409.72 444.74 603.49 695.39 871.96 972.35 1,224.
Year
100.00
TOP TENS GOLD PRODUCERS (2007)
Total: 1,768 tonnes
Source: USGS 2007 Mineral Year Book
400
350
Gold Production
(Tonnes)
300
276
272
255
251
250
200
171
167
153
150
93
100
67
63
50
2007
Gold (Tonnes)
China
South Africa
United States
Australia
Indonesia
Peru
Russia
Canada
PNG
Ghana
276
272
255
251
171
167
153
93
67
63
TOP TENS GOLD PRODUCERS (2010)
Total: 1,797 tonnes
Source: Gold Mining Journal 2011
400
350
341
Gold Production
(Tonnes)
300
266
240
250
190
200
190
170
150
120
100
90
90
100
50
2010
Gold (Tonnes)
China
Australia
United States
South Africa
Russia
Peru
Indonesia
Ghana
Canada
Uzbekistan
341
266
240
190
190
170
120
100
90
90
GOLD PRODUCTION DECREASING ???
• Gold deposit potential depleted  No
• Decreasing of exploration activities and lack of
new discoveries  ???
• Technical aspects
• Non technical aspects
GOLD DEPOSIT TYPES
• Witwatersrand
• Greenstone Belt
• Epithermal including Carlin (sediment hosted)
• Porphyry/ skarn
• Orogenic Gold
• Volcanogenic Massive Sulfide (VMS)
• Others
DEPOSIT MODEL (Corbett, 2005)
REGIONAL GEOLOGY OF INDONESIA
MAGMATIC ARCS OF INDONESIA
(Carlile ane Mitchel, 1994)
GOLD RESOURCES + RESERVES 1969 – 2010 (desk study)
 167.66 Moz (5,214.38 tonnes) gold
Unpublished
Report
4.34 moz
News Release
15.84 moz
News Release
Published Paper
Unpublished
Report
Published Paper
147.48 moz
N: 94
GOLD – BY MAGMATIC ARC
 167.66 Moz (5,214.38 tonnes) gold
Halmahera
3.83 moz
Other
0.90 moz
Sunda-Banda
35.59 moz
Kalimantan
11.40 moz
SundaBanda
Kalimantan
Sulawesi
Sulawesi
15.80 moz
Papua
100.15 moz
Papua
GOLD – BY DEPOSIT TYPE
 167.66 Moz (5,214.38 tonnes) gold
Mesothermal
2.87 moz
HS Epithermal
9.41 moz
Sediment Hosted
3.08 moz
VMS
0.97 moz
LS Epithermal
31.07 moz
Alluvial
1.18 moz
Deposit Type
Porphyry
Porphyry
71.3 moz
Skarn
HS Epithermal
LS Epithermal
VMS
Mesothermal
Skarn
47.78 moz
GOLD – BY PROJECT STATUS
 167.66 Moz (5,214.38 tonnes) gold
Unknown
1.13 moz
Exploration
37.52 moz
Mined Out
20.00 moz
Project Status
Mined Out
Being Mined
Exploration
Unknown
Being Mined
109.02 moz
GOLD MINES 1990-2010
Active
Closed
Buduk
Mesel
Mt. Muro
…….
Sediment Hosted
…….
LS Epithermal
…….
Porphyry/ Skarn
…….
VMS
Gosowong
Kencana
Kelian
Rawas
Lb Tandai
Mt. Muro West
Pongkor
Grasberg
Cibaliung
Cikidang
Batu Hijau
Wetar
PRIMARY GOLD DEPOSITS/ OCCURENCES
Active
Closed
…….
Sediment Hosted
…….
LS Epithermal
…….
HS Epithermal
…….
Porphyry/ Skarn
…….
Mesothermal Vein
Martabe
Pungkut
Seruyung
Tombulilato
Toka Tindung
Jelai-Mewet
Motomboto
Ojolali
Mirah
Palu
Way Linggo
Awak Mas
Elang
Bukit Tujuh
Pangulir
Wabu
GEOLOGICAL TARGET TYPES
Porphyry
Skarn
VMS
Sedimen Hosted
LS Epithermal
Mesothermal Vein
HS Epithermal
1000.000
HS EPITHERMAL
Field
Grade ( g/t Au)
100.000
SKARN
Field
10.000
1.000
LS EPITHERMAL
Field
0.100
PORPHYRY
Field
0.010
0.100
1.000
10.000
Deposite Size (Mt)
100.000
1000.000
GOLD MINE – LAPSE TIMES
Mine
Owner
Status
Contract
Signed
Lebong Tandai
Billiton (CSR)
Closed
1985
1986
1
Gosowong
Newcrest
Closed
1997
1999
2
Wetar
Billiton
Closed
1986
1991
5
Ertsberg
Freeport
Closed
1967
1973
6
Pongkor
Antam
Production
1988
1994
6
Kelian
Riotinto
Closed
1985
1992
7
Mt. Muro
Aurora
Closed
1985
1994
9
Kencana
Newcrest
Production
1997
2006
9
Mesel
Newmont
Closed
1986
1996
10
Rawas
Laverton
Closed
1986
1997
11
Cibaliung
Austindo/ Antam
Production
1998
2010
12
Batu Hijau
Newmont
Production
1986
1999
13
Mt. Muro West
Straits
Production
1985
2004
19
Grasberg
Freeport
Production
1967
1989
22
Average Lapse Time (Years)
Production
Lapse
9.5
GOLD MINE – LIFE SPANS
Mine
90
91
92
93
94
95
96
97
98
99
00
01
02
03
04
05
06
07
08
Grasberg
Lebong Tandai
Alluvials
Wetar
Kelian
Pongkor
Mt. Muro
Mesel
Rawas
Gosowong
Cikidang
Batu Hijau
Mt. Muro West
Kencana
Cibaliung
Porphyry
VMS
LS Epithermal
Sediment hosted
Alluvial
09
10
FACTORS AFFECTING INDUSTRY’S FUTURE
 Geological Prospectiveness (++)

Country Stability (+)
 Gold Price (++)


Legal/Commercial Basis ( - )
New Mining Law, lack of implementing regulations
Intensity of Exploration Efforts (– to +)
CONCERNS IN INDONESIA
(non technical aspects)
 Uncertainty in mineral tenement system (Mining Law
No.4/ 2009 with lack of implementing regulations)

Forestry overlapping issues

Pains of regional autonomy

Illegal mining

Local community / NGOs
EXPLORATION CHALLENGES  technical aspects
1. Opportunity to generate/ develop new projects is sliming
 Matured Exploration Areas
2. Exploration “going deeper”
 Development of new geological/ exploration model
 Application of new technology
 Advanced exploration techniques and approaches
 Higher exploration costs
3. Professional ability and skill of “explorationists”
MAJOR GOLD DEPOSIT TYPES IN INDONESIA
• Epithermal
• Porphyry/ skarn
Porphyry vs Epithermal