Pani Gold Mine officially achieved its first gold pour on Saturday, February 14, 2026, ahead of the original target of the end of the first quarter of 2026. This milestone marks the start of commercial gold production and represents a significant step in the mine’s journey.
The open-pit mine, located in Hulawa Village, Pohuwato Regency, Gorontalo, has Gold Ore Reserves containing approximately 4.8 million ounces of gold, part of a Mineral Resource Estimate containing 7.01 million ounces of gold—positions it as one of Indonesia’s most prospective primary gold mines.
Since PT Merdeka Gold Resources Tbk (MGR), the mine operator, was listed on the Bursa Efek Indonesia under the ticker symbol EMAS, development of the Pani Gold Mine has accelerated rapidly. First mining was carried out on October 1, 2025, followed by the completion of the Ore Preparation Plant (OPP) two weeks later.
In the following months, the project reached several key milestones, including first ore crushing at the OPP, first ore stacking at the heap leach facility, and first irrigation, marking the start of the leaching process. The resulting pregnant leach solution was then processed at the Adsorption, Desorption, and Recovery (ADR) plant to extract and refine the gold into doré bullion.
During this initial operational phase, the Pani Gold Mine uses the heap leach method, targeting gold production of approximately 110,000–115,000 ounces in its first year, exceeding the initial 2026 target of 80,000 ounces.
The Pani Gold Mine has also begun construction of its Carbon-in-Leach (CIL) facility, with earthwork underway since early 2026, ahead of the original 2027 schedule. The CIL facility will complement the heap leach, enabling the mine to rely on two processing methods in parallel to optimize gold recovery.
The 12-million-ton-per-year CIL facility is now targeted for completion in 2028, earlier than the original phased plan extending to 2032. Once fully operational, total gold production at the Pani Gold Mine will be derived from a combination of heap leach and CIL processing. With this acceleration, peak production potential of up to 500,000 ounces of gold per year could be achieved by 2029, ahead of previous projections.
“This first gold pour marks a key milestone in EMAS’ successful transition from project development to commercial gold operations. Achieving this ahead of schedule reflects strong project execution discipline and operational readiness,” said Boyke Poerbaya Abidin, President Director of MGR, during the ceremony, which was also attended by Gorontalo Governor Gusnar Ismail and Vice Governor Ida Syahidah. Boyke added that the commencement of operations at the Pani Gold Mine also provides a foundation for further production growth.
In his remarks, Governor Gusnar Ismail expressed confidence that the mining industry will support economic growth in Gorontalo Province. “I am optimistic that with the mining industry, provincial economic growth could exceed 6 percent if managed properly,” he said, noting that current growth stands at 5.71 percent. With strong economic growth, he added, poverty level in the Gorontalo province is also expected to decline.
“In addition to strengthening Merdeka Group’s gold portfolio, the Pani Gold Mine will contribute to Indonesia’s gold production and support Gorontalo’s economic development through job creation and community empowerment programs,” Boyke added. “All our operations are conducted in accordance with Good Mining Practices and high environmental, social, and governance standards.”
*
Main photo: The process of forming gold and silver into doré bullion.
