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PT Merdeka Copper Gold Tbk
Company

About Merdeka

PT Merdeka Copper Gold Tbk produces metals and minerals that are essential for the advancement of human life. As an Indonesian metal and mineral mining holding company headquartered in Jakarta, Merdeka explores, extracts, and produces gold, silver, copper, and other minerals through subsidiaries spread across three islands in Indonesia. Merdeka also has a subsidiary in the field of mining construction services.

The two mining operations managed by Merdeka are the Tujuh Bukit Gold Mine in Banyuwangi, East Java; and the Wetar Copper Mine on Wetar Island, Southwest Maluku.

Merdeka is developing several projects: the Tujuh Bukit Copper Project, an underground copper mine in Banyuwangi, which is one of the largest undeveloped copper deposits in the world; and the Pani Gold Project in Gorontalo, Sulawesi, which will become one of the major primary gold mines in Indonesia.

Continuing to innovate, Merdeka developed Merdeka Battery Materials (MBM), operated the nickel mine and smelters, and integrated with nickel industrial area development in Sulawesi. MBM will become one of the main suppliers of raw materials for global electric vehicle production.

Established in 2012, Merdeka became a public company in 2015 with the stock code MDKA. Merdeka is owned by prominent shareholders, including PT Saratoga Investama Sedaya Tbk, PT Provident Capital Indonesia (through PT Mitra Daya Mustika and PT Suwarna Arta Mandiri), and Garibaldi Thohir.

To achieve its vision of becoming a global leader in Indonesia’s mining and metals industry, Merdeka sets the highest standards in environmental, social, and corporate governance (ESG) performance. We believe that long-term success requires the integration of sustainability in all aspects of the business. Only then can we continue to contribute to the development of Indonesia and the advancement of human life.

In October 2023, Merdeka achieved an upgrade in its ESG MSCI (Morgan Stanley Capital International) rating, from BBB to A. With this achievement, Merdeka stands as the only mining company in Indonesia in the MSCI Diversified Metals and Mining category that received the A rating.

2012
  • Merdeka was established under the name PT Merdeka Serasi Jaya.
  • PT Bumi Suksesindo, Merdeka’s first subsidiary, obtained a mining operation and production permit in Banyuwangi, East Java.
2014
  • PT Bumi Suksesindo commenced construction of the Tujuh Bukit Gold Mine in Banyuwangi, East Java.
  • PT Merdeka Serasi Jaya changed its name to PT Merdeka Copper Gold.
2015
  • Became a public company under the name PT Merdeka Copper Gold Tbk and stock code MDKA.
2016
  • PT Bumi Suksesindo obtained a syndicated bank loan of US$130 million for the Tujuh Bukit Gold Mine.
  • Obtained US$25 million for the Tujuh Bukit Gold Mine.
  • Tujuh Bukit Gold Mine started its first ore mining.
2017
  • The Tujuh Bukit Gold Mine managed by PT Bumi Suksesindo produced its first gold.
  • Feasibility study conducted to expand the Tujuh Bukit Gold Mine.
  • A concept study for the exploration of the Tujuh Bukit Copper Project has been completed.
  • Established a subsidiary in the field of mining services: Merdeka Mining Servis.
2018
  • Acquired a 67% stake in the Wetar Copper Mine, which was later officially managed by PT Merdeka Copper Gold through its two subsidiaries: PT Batutua Kharisma Permai and PT Batutua Tembaga Raya (BKP-BTR).
  • Conducted a Limited Public Offering by issuing Pre-emptive Rights worth Rp1.3 trillion.
  • PT Bumi Suksesindo obtained a loan of US$200 million.
  • Started exploration of the Tujuh Bukit Copper Project, an underground copper mine in Banyuwangi, East Java.
  • Acquired a 66.7% stake in PT Pani Bersama Jaya (PBJ) which indirectly holds the IUP of the Pani Gold Project in Gorontalo, Sulawesi.
2019
  • Obtained a Term Loan Facility of US$100 million.
  • Increase capital by Rp438 billion through the issuance of 215 million new shares at Rp3,980 per share through Private Placement.
  • Performing a stock corporate action by splitting one share into five shares to increase the number of shares.
  • Increase the value of its stake in the Wetar Copper Mine to 78%.
  • Signed conditional transaction documents with PT J Resources Nusantara to combine gold projects in Pani, Sulawesi, into one larger gold mining project.
  • Established six metal and mineral mining subsidiaries: PT Batutua Pelita Investama, PT Batutua Tambang Abadi, PT Batutua Tambang Energi, PT Batutua Abadi Jaya, PT Batutua Alam Persada, and PT Batutua Bumi Raya.
2020
  • Signed an MoU with PT J Resources Asia Pasifik Tbk to co-develop the Pani Gold Project.
  • Signed an MoU with Eternal Tsingshan Group Limited to co-develop the AIM (Acid, Iron, Metal) Project, a mineral processing plant from the Wetar Copper Mine that will produce raw materials for batteries for electric cars.
2021
  • Established PT Merdeka Tsingshan Indonesia, a joint venture of Merdeka and Eternal Tsingshan Group Limited to manage the AIM Project in Morowali, Central Sulawesi.
  • Acquired 50.1% stake in PT Gorontalo Sejahtera Mining for a Work Contract in the Pani Gold Project.
2022
  • Increase the shares of PT Pani Bersama Jaya (PBJ) to 83.35%. Indirectly, PBJ holds the IUP of the Pani Gold Project in Gorontalo, Sulawesi.
  • Invested a 55.67% stake in PT Hamparan Logistik Nusantara which operates a nickel mine and refining facility.
  • MSCI (Morgan Stanley Capital International) upgraded Merdeka’s ESG rating to BBB, MSCI’s highest ESG rating for an Indonesian Mining and Metals company; it places Merdeka in the top 30 percent of mining companies in the world rated by MSCI.
  • One hundred percent of the Seven Bukit Gold Mine’s electricity is starting to use PLN’s renewable energy.
  • Merdeka becomes a member of the UN Global Compact, an institution that promotes corporate sustainability policies and implementation and supports the UN’s broad goals, particularly the Sustainable Development Goals.
2023
  • PT Merdeka Battery Materials Tbk (MBM) was established and held its initial public offering in April 2023. MBM (previously named PT Hamparan Logistik Nusantara) is majority-owned by of PT Merdeka Copper Gold Tbk, which holds the controlling stake through its subsidiary, PT Merdeka Energi Nusantara.
  • By June 2023, the production of the Tujuh Bukit Gold Mine successfully reached 1 million ounces of gold.
  • In October 2023, Merdeka’s ESG MSCI rating upgraded from BBB to A.
2015
  • PT Bumi Suksesindo received an award from the East Java Provincial Government for its commitment to fulfill the obligation to Borrow-to-Use Forest Area Permit by managing compensation land as forest areas for reforestation.
2017
  • Merdeka’s subsidiary, PT Bumi Suksesindo, received the 2017 Best Taxpayer award (Directorate General of Taxes, Regional Office of DJP East Java III, KPP Pratama Banyuwangi).
2018
  • PT Bumi Suksesindo received an award for its large tax contribution (KPP Pratama Jakarta Setiabudi Satu).
2019
  • PT Bumi Suksesindo received a certificate of appreciation for achieving 15 million working hours without losing work time due to injury from the East Java Regional Government.
  • PT Bumi Suksesindo received the 2019 Subroto Award for Mineral and Coal PNBP Compliance as 1st Place for Compulsory Payments with the Largest Non-Tax State Tax Contribution for Mineral IUPs and 3rd Place in the category of Companies with the Best PNPB Payment Compliance for Mineral IUPs (Directorate General of Mineral and Coal, Ministry of Energy and Mineral Resources).
  • PT Merdeka Copper Gold Tbk received an award for its Commitment and Compliance in Submitting the Company’s Annual Financial Statements Regularly, Timely and Correctly (Ministry of Trade of the Republic of Indonesia).
  • PT Bumi Suksesindo received the Reclamation and Land Compensation Award from the Ministry of Environment and Forestry of the Republic of Indonesia.
  • PT Bumi Suksesindo received a certificate of appreciation from the East Java Provincial Government for its Environmental Management Report for 2019.
2020
  • PT Bumi Suksesindo received an award as a taxpayer with the best contribution to the country, especially in the work area of the Banyuwangi Pratama Tax Service Office in 2019 (Banyuwangi Pratama Tax Service Office).
  • PT Merdeka Copper Gold Tbk received the IAGI Exploration Awards 2020 as Recognition as a Nominee for Best Exploration Commitment and Best Technical Discovery (Indonesian Association of Geologists).
  • PT Bumi Suksesindo obtained a Security Management System Audit Certificate (Gold Award) (National Police of the Republic of Indonesia).
2021
  • PT Bumi Suksesindo received the 2021 Subroto Award for Mineral and Coal PNBP Compliance as the First Winner for Compulsory Payments with the Largest Non-Tax State Tax Contribution for the Mineral IUP.
  • Merdeka’s magazine, Suasa, was awarded the Silver Winner, The Best of Private Company In-house Magazine (InMA) 2021 from the Press Company Union.
  • PT Merdeka Copper Gold Tbk was certified ISO 45001:2018 for the occupational health and safety management system and ISO 14001:2015 for the environmental management system.
2022
  • PT Bumi Suksesindo won an award from the Governor of East Java for the achievement of 6,038,954 production hours without injury (1 December 2020–31 October 2021).
  • Merdeka’s magazine, Suasa, received another award from the Press Company Union, this time it was Gold Winner – The Best of Private Company In-house Magazine (InMA) 2022.
  • PT Merdeka Copper Gold Tbk received the Action (Silver) award at the TrenAsia ESG Excellence 2022, an event to appreciate the implementation of Indonesian companies’ sustainable business held by TrenAsia.com.
  • PT Bumi Suksesindo received the Pusaka Terbina Utama Award from the East Java Provincial Government’s Environmental Service for commitment and performance in managing the environment in the Tujuh Bukit Gold Mine.
2023
  • PT Bumi Suksesindo was honored with the Special Achievement Award for Empowerment Sustainable Economic Growth in Banyuwangi Regency at the Anugerah Times Indonesia 2022 held in March 2023.
  • In May 2023, PT Bumi Suksesindo was recognized as The Best Corporate Public Relations – Silver Winner at the PR Jatim Award 2023.
  • PT Bumi Suksesindo received the Good Mining Practice award at the GMP Award 2023 organized by the Directorate General of Minerals and Coal of the Ministry of Energy and Mineral Resources in September 2023.
  • Merdeka was honored with two distinctions in the Stellar Workplace Award 2023, namely Employee Commitment and Employee Satisfaction, conducted in November 2023 by One GML and Kontan Business & Investment Media.
  • In November 2023, Merdeka achieved the top position in the Over 1,000 Employees category in the 2023 Employer of Choice awards organized by Korn Ferry and SWA magazine.
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