Pani Gold Project Subsidiary Rumored to Launch IPO in September 2025
The subsidiary of PT Merdeka Copper Gold Tbk (MDKA), which manages the Pani gold project in Gorontalo, is rumored to be holding an Initial Public Offering (IPO).
JAKARTA – Sources indicate that the MDKA subsidiary managing the Pani gold project has registered with the Financial Services Authority (OJK). According to a cash source, the IPO is expected to occur in September 2025, assuming there are no impediments.
Reportedly, PT Trimegah Sekuritas Indonesia Tbk (TRIM) and PT Indo premier Sekuritas have been appointed as underwriters for this MDKA entity. While indo Premier Sekuritas stated they had no new information, Trimegah sekuritas has not responded to requests for comment.
When contacted, General Manager of Merdeka Communications Copper Gold, Tom Malik, stated, “Sorry, I have no information about this,” on wednesday (8/27/2025).
According to the official website of Merdeka Copper gold, the Pani project is managed by PT Merdeka Gold Resources and its subsidiaries, with MDKA as the majority shareholder.
The Pani gold project, located on Mount Pani in sulawesi, is under development to become one of the largest primary gold mines in Indonesia and the Asia Pacific, boasting over 7 million ounces of gold.
pani Gold Project Development
The Pani gold project is still being developed on Mount Pani on the island of Sulawesi to become one of the largest primary gold mines in Indonesia.
The initial phase of the Pani gold project will employ heap leach processing with a capacity of 7 million tons of ore per year, targeting a production of approximately 140,000 ounces of gold per year.
Subsequent phases will involve constructing carbon-in-leach (CIL) facilities with an initial capacity of 7.5 million tons per year, expanding to 12 million tons by 2030. Combined heap leach and CIL processing will reach 19 million tons per year.
As of the end of the second quarter of 2025, the Pani gold project’s development had reached 67%. detailed engineering and procurement work are complete, and local contractors are installing processing infrastructure and electricity. Port facilities are operational, and fuel storage is in place. Commissioning is targeted for the end of 2025, with initial gold production expected in the frist quarter.
Frequently Asked Questions
- What is the Pani Gold Project?
- The Pani Gold Project is a gold mining project in Gorontalo,managed by a subsidiary of PT Merdeka Copper Gold Tbk (MDKA). It aims to be one of the largest primary gold mines in Indonesia and the Asia Pacific.
- What is an IPO?
- An Initial Public Offering (IPO) is the first time a company offers its shares to the public, allowing investors to buy a stake in the company.
- What are the expected production phases of the Pani Gold Project?
- The project will initially use heap leach processing with a capacity of 7 million tons of ore per year. Later phases will include carbon-in-leach (CIL) facilities, expanding the total processing capacity to 19 million tons per year by 2030.
