STM discovers 960 million tons of world-class copper, gold and metal resources in Indonesia

Sumbawa Timur Mining (STM) says (Onto Copper), a world-class copper and gold mine, has been discovered in Indonesia. It is still in the feasibility study stage, and the December 2019 reserve report shows that the metal resources at the control level are 760 million tons (Cu@ 0.93 per cent, Au 0.56g) and the inferred metal resources are 960 million tons (Cu@ 0.87 per cent, Au 0.44g).

STM said the discovery of a world-class copper and gold mine would make the company a top copper producer in Indonesia.

Since 2010, STM has been exploring around its Hu'u Project in (West Nusa Tenggara), West Nusa Tenggara Province, Indonesia. So far, 64 diamond holes have been completed.

STM is a joint venture between Eastern Star Resources Pty Ltd (80 per cent) and ANTAM (20 per cent), of which, Eastern Star Resources Pty Ltd is a subsidiary of Vale.

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