Merdeka Gold Completes Sale of 16 kg Gold from Pani Mine to Antam

PT Merdeka Gold Resources Tbk (EMAS) has announced its maiden gold sale from the Pani Gold Mine, marking its entry into the commercial production phase.

Boyke Poerbaya Abidin, President Director of PT Merdeka Gold Resources Tbk, explained that this sale was conducted through its subsidiary, PT Puncak Emas Tani Sejahtera (PETS), to PT Aneka Tambang (Persero) Tbk (Antam), totaling 16.0597 kg or 516.287 ounces of gold.

"This sale is part of a strategic collaboration between the Merdeka Group and Antam through a Gold Sales and Purchase Agreement (GSPA) to support the absorption of domestic gold production while strengthening the integration of the national gold supply chain," he stated in a written release on Monday (March 16, 2026).

Along with the commencement of production, Merdeka Gold also reported a significant increase in its gold reserve base. Based on the latest estimates as of December 31, 2025, total Ore Reserves have increased to 203.1 million tonnes of ore with an average grade of 0.79 g/t gold, containing approximately 5.2 million ounces of gold.

Ore Reserves are the portion of a Mineral Resource that has undergone technical and economic studies and has been deemed viable for mining.

"The increase in Ore Reserves was primarily driven by the success of the follow-up exploration program as well as the updating of the geological model and mine planning conducted throughout 2025," said Boyke.

Merdeka Gold targets production of approximately 100,000–115,000 ounces of gold in 2026, alongside the accelerated development of processing facilities and the optimization of mining operations.

Boyke added that the company is continuing its exploration program to expand the resource base in the Pani area.

Currently, four diamond drill rigs are operating at the project site, with an additional two diamond drill rigs and one reverse circulation rig scheduled to arrive in the coming months to support the planned drilling program of more than 32,000 meters this year.

Source: https://www.idxchannel.com/market-news/merdeka-gold-jual-16-kg-emas-dari-tambang-pani-ke-antam

Advertisement