PT Merdeka Gold Kicks Off Pani Project Mining, Targets 500K Ounces
PT Merdeka Gold Resources has initiated mining operations at the Pani Gold Project in Hulawa Village, Pohuwato Regency, Gorontalo province, Sulawesi island, Indonesia. The project, with reserves surpassing 7 million ounces of gold, is poised to reshape Indonesia's gold mining sector and deliver substantial economic benefits at various levels.
The project, commencing on October 1, 2025, adheres to a meticulously planned phased development strategy. Phase 1 concentrates on establishing operational excellence and critical infrastructure, with an initial annual production target of 140,000 ounces of gold. Future phases, including the integration of advanced carbon-in-leach (CIL) processing facilities, aim to achieve a peak production capacity of 500,000 ounces of gold annually.
The strategic location of the project offers advantages such as established road infrastructure and proximity to port facilities, facilitating efficient operations and serving as an economic catalyst for the Sulawesi region. The project is anticipated to significantly impact the local community, contribute to national economic growth, and advance the investment landscape in Indonesia.
PT Merdeka Gold Resources concluded a highly successful Initial Public Offering (IPO) in September 2025, raising 4.66 trillion rupiah (approximately $280.7 million) by selling a 10% stake in the company. This underscores strong investor confidence in the project's potential. The project incorporates both established and innovative gold processing technologies to maximize recovery rates and gold recovery across the diverse ore body. First gold production is expected in early 2026.
The Pani Gold Project, with its large resource size, advanced processing technology, and multi-decade mine life, is positioned to significantly transform Indonesia's gold mining landscape. The project's strategic location, phased development strategy, and strong investor support signal a promising future for both the project and the region's economy.
