Merdeka Battery Materials stock: Exploration report details 1,607 core holes

Published on 10/24/2026 at 04:53 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Merdeka Battery Materials drilled 1,607 core holes in Q3 2026. Merdeka Battery Materials stock posted USD 1.05 billion revenue in H1 2026, up 66.92 percent.

Nickel output and reporting dates

Merdeka Battery Materials completed 1,607 core holes in its October 9, 2026 exploration report.
First-half 2026 revenue reached USD 1.05 billion and net profit reached USD 54.43 million.
The next earnings report is scheduled for December 23, 2026.

Merdeka Battery Materials, ID1000188303, Illustration mit AI erstellt.

Merdeka Battery Materials (ISIN ID1000188303) completed 1,607 core holes across 41,289 meters in its third-quarter 2026 exploration program. According to BCA Sekuritas, the report covered the period ending September 30, 2026, with exploration spending of IDR 58.18 billion. The latest operating update adds to a strong first-half earnings picture, when revenue reached USD 1.05 billion, up 66.92 percent year over year.

Exploration expands the resource base

The October 9, 2026 exploration report focused on the Sulawesi Cahaya Mineral mine in Southeast Sulawesi. Kontan reported that the drilling program was intended to define mine-life resources and improve confidence in existing mineral classifications. Regional exploration also includes geological mapping, surface sampling and geophysical surveys.

The operational scale matters because the company is pursuing an integrated nickel and battery-materials chain. A report by KAF Sekuritas describes MBMA as operating from nickel mining through RKEF smelting, high-grade nickel matte conversion and HPAL production. The report also identifies a 90,000-ton annual capacity for the Sulawesi Nickel Cobalt project.

Three dated milestones shape the story

On April 30, 2026, the company highlighted a 52 percent increase in nickel reserves on its announcements page. On September 26, 2026, its first-half results showed USD 1.05 billion in revenue, USD 54.43 million in net profit and USD 311 million in EBITDA, as reported by Investor.id. The October 9, 2026 exploration report then added 1,607 core holes and 41,289 meters of drilling.

What comes next for reporting?

The next substantiated reporting date is December 23, 2026, according to Investing.com. That date gives investors a defined checkpoint for judging whether the exploration program and downstream projects are translating into further earnings growth.

Integrated nickel remains the core

Merdeka Battery Materials combines mining, processing and battery-materials projects in Indonesia, with first-half 2026 nickel ore production of 15.2 million wet metric tonnes, up 121 percent year over year. The business mix leaves the company exposed to commodity pricing and project execution, while the latest drilling report adds a longer-term resource-development angle.