Wabu Block Gold Mine – Maybe not many people know that Indonesia has a “treasure treasure” in the form of a gold mountain in the land of Papua called the wabu block.
The wabu block gold mine is a former PT Freeport Indonesia mining area that has been returned to the Indonesian government.
Some Facts about the Wabu Block Gold Mine in Papua
The wabu block became a byword. Several high-ranking state officials are eyeing the contents of the golden mountain in Papua.
However, until now, Wabu has yet to be touched and has many mysteries. Here are some interesting facts about the Wabu block gold mine:
1. Once Owned by PT Freeport Indonesia
A mining company, PT Freeport Indonesia, once owned the wabu block gold mine. The Wabu block is included in the PT Freeport Indonesia concession based on a contract of work signed in 1991.
President Director of Freeport Indonesia, Tony Wenas, said the wabu block was originally part of Block B in the company’s previous work contract.
Freeport Indonesia has also explored the block with a total area of 200 thousand hectares.
Freeport Indonesia is no longer interested in wabu because it has been released and returned to the Ministry of Energy and Mineral Resources, as stated in the IUPK in 2018.
According to him, Freeport Indonesia released and handed back the wabu working area to the government before 2018.
However, the new government officially stated in the Special Mining Business Permit on December 21 2018, that the Freeport mining area is only 9,900 hectares, formerly known as Block A.
2. Wabu Exploration Cost Reaches USD 170 Million
He add that exploration costs for the wabu working area reach USD 170 million, which was expend cumulatively in the 1996-1997 period. The content in it contains gold and copper.
3. The Gold Content is Greater than Grasberg Freeport
PT Freeport Indonesia prefers to focus on the Grasberg mining block, 40 kilometres from the mine in the wabu block.
Freeport Indonesia’s departure from Wabu was not cause by the potential in the mining working area but that the company want to focus on managing Grasberg.
Based on data from the ministry of energy and mineral resources for 2020,
The wabu block has a potential resource of 117.26 tons of gold ore with an average grade of 2.16 grams per ton (Au) and 1.76 grams per ton of silver.
This potential value is equivalent to USD14 billion or nearly Rp 300 trillion, assuming a gold price of USD 1,750 per troy once.
Meanwhile, every 1 ton of ore contains 2.16 grams of gold metal.
This is far greater than the content of gold metal in Freeport Indonesia’s Grasberg ore material, which has 0.8 grams of gold per ton of material.
4. Uninhabited Mountain of Gold
Until now, no one knows who is the manager of wabu gold block mine. The government has never asked Freeport to manage it.
Whoever manages the wabu block will face a serious challenge because until now, there has been no adequate access or route to the block.
5. Attract Interest to Work on
The potential in the wabu block certainly makes MIND ID and PT Aneka Tambang Tbk interested and expressed their readiness to manage the block.
Antam, as a subsidiary of MIND ID, has also state its commitment to partner. With a regionally own enterprise (BUMD) if it is trust as the manager of the wabu block.
The five facts above are interesting things you can learn about the wabu block gold mine. This Papuan treasure holds various mysteries that you can explore.