Merdeka Gold Resources expands Pani Gold Mine production

PT Merdeka Gold Resources Tbk (EMAS) is significantly expanding its Pani Gold Mine operations in Gorontalo, Indonesia. The company reported a substantial increase in gold production, rising from 1,818 ounces in the first quarter of 2026 to 15,594 ounces in the second quarter of 2026, following the initial production milestone on February 14, 2026.

To drive long-term growth, the company is advancing two major infrastructure projects: the expansion of its heap leach facilities and the construction of a Carbon-in-Leach (CIL) processing plant. The heap leach facility is being developed in stages, with Cell 1 and Cell 2 completed and targeted for capacity increases through late 2026. Once fully developed, the heap leach facility is expected to handle approximately 62 million tons of ore.

Simultaneously, the company is investing approximately Rp 2.45 trillion (RMB 1.02 billion) through its subsidiary, PT Pani Industri Nusantara, to build a CIL facility with an initial capacity of 12 million tons per year (Mtpa). This facility, supported by Vision Green Energy (Beijing) Tech Co., Ltd., is designed to complement heap leach operations and increase gold recovery rates from roughly 80 percent to over 90 percent. The CIL plant is built with the potential for future expansion up to 24 Mtpa.