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.
Merdeka today consist of five main assets which, as follows:
- Tujuh Bukit Copper
- Pani Joint Venture
- Wetar/Morowali Acid Iron Metal
- Tujuh Bukit Gold
- Wetar Copper
The Tujuh Bukit Copper Gold deposit is one of the world’s top ranked undeveloped porphyry copper and gold mineral resources, containing approximately 28.3 million ounces of gold and 8.7 million tonnes of copper. Meanwhile, the operating Tujuh Bukit Mine is based on a near surface oxide gold silver deposit that as of 31 December 2019 contains a remaining Mineral Resource of 2.3 million ounces of gold and 89.8 million ounces of silver and associated ore reserves.
In June 2019, Merdeka completed acquisition of Wetar Project through 78% ownership in BTR. More importantly, it has set its sight on a promising Wetar/Morowali Acid Iron Metal Project in cooperation with a leading local off-taker.
Development of the Pani Gold Project creates an opportunity to mine gold with total measured, indicated and inferred resources up to 2,370,000 ounces of gold. MDKA has signed a joint-venture MOU with another mining company exploring an adjacent site, to jointly prospect for gold that would be greatly beneficial to both parties.
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.