PT Merdeka Copper Gold Launches Pani Gold Project to Boost Indonesia's Gold Production
PT Merdeka Gold Resources, now operating as PT Merdeka Copper Gold Tbk, has launched the Pani Gold Project, aiming to reduce Indonesia's gold import needs, boost mining sector capabilities, and generate significant tax revenue. The project, located in Gorontalo province on Sulawesi island, has officially begun mining operations on October 1, 2025.
The Pani Gold Project is expected to produce up to 500,000 ounces of gold annually at peak capacity, with plans to expand to a 12 million ton capacity carbon-in-leach (CIL) processing facility by 2030. The project's phased development includes an initial heap leach processing facility with 7 million ton annual capacity, targeting approximately 140,000 ounces of gold annually.
The project is set to become one of Indonesia's largest primary gold mines, with over 7 million ounces of gold resources. It is expected to create hundreds of direct employment opportunities, develop local supply chains, and improve infrastructure benefiting surrounding communities. The project's strategic location in Hulawa Village, Pohuwato Regency, provides advantages including established road infrastructure and proximity to port facilities. The project's operational lifespan is projected to extend multiple decades, with first gold production expected in early 2026.
PT Merdeka Copper Gold Tbk's Pani Gold Project is poised to significantly contribute to Indonesia's gold production capabilities and reduce reliance on imports. With a successful Initial Public Offering (IPO) in September 2025, raising 4.66 trillion rupiah (approximately $280.7 million), the project is well-funded for its long-term operations. The project is expected to bring substantial economic benefits to the local community and the nation as a whole.
