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:

  1. Tujuh Bukit Copper
  2. Pani Joint Venture
  3. Wetar/Morowali Acid Iron Metal
  4. Tujuh Bukit Gold
  5. 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 2020 contains a remaining Mineral Resource of 1.9 million ounces of gold and 77.8 million ounces of silver and associated ore reserves. Furthermore, the operating wetar copper mine contains a remaining 163 thousand tonnes of copper.

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. The majority of the AIM Project’s revenue is attributable to the sale of acid, iron ore pellets and sponge copper. At capital cost of US$ 290m, the AIM project delivers a compelling NPV of US$ 407m with an IRR of 26%.

The AIM Project will begin construction in Q2 2021 and is targeted to deliver first acid in Q4 2022. BGRIMM commenced with detail engineering and design in April 2021. The AIM processing plant will be located adjacent to the future acid and steam off-takers. The layout has been optimized to ensure capital and operational savings over the life of the project.

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.