At Mount Pani on Sulawesi Island, PT Merdeka Gold Resources Tbk (MGR) operated the Pani Gold Mine, which is set to become one of Indonesia’s largest primary gold mines. With a multi-decade mine life, the Pani Gold Mine hosts ore reserves of 190 million tonnes containing approximately 4.8 million ounces of gold.

MGR operates under PT Merdeka Copper Gold Tbk (IDX: MDKA), which has a proven track record operating the Tujuh Bukit Gold Mine in Banyuwangi, East Java. Leveraging this expertise, MGR aims to unlock the full potential of Pani Mountain—a historic gold-producing region since the 19th century—located in Hulawa Village, Pohuwato Regency, Gorontalo Province, Sulawesi Island.

The Pani Gold Mine is managed through several MGR subsidiaries responsible for mining operations, processing, and supporting infrastructure. The mine is designed as an open-pit mine and is being developed in phases.

The initial development phase of the Pani Gold Mine will use the heap leach method with a capacity of 7 million tonnes of ore per year, targeting annual gold production of approximately 140,000 ounces.

In the next phase, MGR will construct a carbon-in-leach (CIL) facility with an initial capacity of 7.5 million tonnes per year, which will be expanded to 12 million tonnes by 2030. Combined, the heap leach and CIL facilities will process up to 19 million tonnes annually, with peak gold production potential of up to 500,000 ounces per year. First gold production is expected in Q1 2026.

The mine will be developed sustainably, applying good mining practices and a strong commitment to social and environmental development.