PT Merdeka Copper Gold Tbk (Merdeka) is a holding company with operating subsidiaries engaging in mining business activities, encompassing the exploration and future production of gold, silver, copper and other related minerals, and mining services. The subsidiaries are PT Bumi Suksesindo (BSI), the holder of the operation production mining business license for the Tujuh Bukit Mine; PT Damai Suksesindo (DSI), which holds the adjacent exploration permit; PT Cinta Bumi Suksesindo (CBS); PT Beta Bumi Suksesindo (BBSI); PT Batutua Tembaga Raya, the holder of operation production mining business license specifically for processing and refining; PT Batutua Kharisma Permai, the holder of the operation production mining business license for the Wetar Copper Mine; PT Merdeka Mining Servis (MMS), the holder of mining services business license; PT Pani Bersama Jaya (PBJ), the holder of mining business license for transportation and sales; and PT Puncak Emas Tani Sejahtera, the holder of mining business license for Pani Gold Project.
The Company’s major assets are the Tujuh Bukit Mine, often referred to as the Tujuh Bukit Oxide Heap Leach Project, the Wetar Copper Mine, the undeveloped Pani Gold Project, and the undeveloped Tujuh Bukit Copper Gold deposit.
The Tujuh Bukit Copper Gold deposit is one of the world’s top ranked undeveloped porphyry copper and gold mineral resources, containing approximately 28 million ounces of gold and 19 billion pounds of copper. The operating Tujuh Bukit Mine is based on a near surface oxide gold silver deposit that as of 31 December 2018 contains a remaining Mineral Resource of 2.25 million ounces of gold and 53 million ounces of silveri and associated Ore Reserves.
As a world-class Indonesian mining company, Merdeka is owned by prominent Indonesian shareholders including PT Saratoga Investama Sedaya Tbk., PT Provident Capital Indonesia, and Mr. Garibaldi Thohir. Merdeka’s three major shareholders have exceptional track records in successfully identifying, building, and operating multiple publicly listed companies in Indonesia.