The Toka Tindung Gold Mine in North Sulawesi, Indonesia (source: PT Archi Indonesia)The decision to establish a geothermal subsidiary is currently pending. The critical deciding factor will be the result of a “heat check” or geothermal assessment being conducted by PT Ormat Geothermal Indonesia at the Toka Tindung gold mining concession area located in North Minahasa, North Sulawesi. The results of this assessment is expected by the middle of September 2023.
Plans to develop geothermal energy were first announced by ARCI in mid-2023. Rudy Suhendra, Director of ARCI, explained that the geothermal business was an interesting opportunity and that he was not certain if there were other gold mining companies considering going into this business.
The geothermal project being explored by ARCI and Ormat has a potential capacity of 30 MW. This is still being verified by heat measurements and continued exploration. If successful, a subsidiary will be established after which plans for further exploration and construction work will be established.
A similar setting can be seen at the Lihir geothermal power plant in Papua New Guinea, where gold ore has been mined in an open-pit active geothermal site.
