The Pani Gold Project is being developed at Mount Pani on Sulawesi Island to become one of the largest primary gold mines in Indonesia and the Asia-Pacific region. With over 7 million ounces of contained gold and a multi-decade mine life, Pani is set to play a major role in the future of gold mining in the region.

Leveraging its experience operating the Tujuh Bukit Gold Mine in Banyuwangi, East Java, the Merdeka Group will unlock the potential of Mount Pani—an area known for its gold deposits since the 19th century—located in Hulawa Village, Pohuwato Regency, Gorontalo Province, Central Sulawesi.

The Pani Gold Project is managed through several subsidiaries of PT Merdeka Copper Gold Tbk, which oversee mining operations, processing, and supporting infrastructure. Designed as an open-pit operation, the project is being developed in phases.

The initial phase will use heap leach processing with a capacity of 7 million tons of ore per year, targeting approximately 140,000 ounces of gold annually. In the next phase, a carbon-in-leach (CIL) facility will be built with an initial capacity of 7.5 million tons per year, expanding to 12 million tons by 2030. The combined heap leach and CIL capacity will reach 19 million tons per year, with peak production potential of up to 500,000 ounces of gold annually.

The Pani Gold Project is progressing on schedule, with significant advancements in design, engineering, and construction, including the fabrication of key equipment and completion of heap leach testing. Supporting infrastructure such as fuel storage, port facilities, and a main power substation is under construction. PLN is expected to supply grid power by 2025, while the on-site metallurgical lab is targeted to begin operations in early 2025.

First gold processing is expected by the end of 2025, with commercial production starting in early 2026.