Jakarta-based Merdeka Copper Gold Tbk PT (OTCMKTS: PMCGF) (IDX: MDKA) (FRA: B0C) is launching an initial public offering for its gold-focused subsidiary. It is said to be Indonesia’s largest IPO of the year.
Merdeka Gold Resources is seeking to raise US$284 million by offering up to 1.62 billion shares at US$0.17 apiece. The quantity of common stock will account for a 10 per cent stake in the company.
The public offering period is currently ongoing and will conclude on Sept. 19. Listing of shares on the Indonesia Stock Exchange will occur on Sept. 23, according to information from the local media company Investor Daily.
Merdeka Copper Gold will be using the funding to pay off debts and strengthen its balance sheet.
The subsidiary, Merdeka Gold Resources, is currently managing the Pani Gold Project in Indonesia’s Sulawesi province. It is estimated to hold over 7 million ounces and will be capable of producing gold for decades.
Merdeka is targeting 140,000 ounces per annum beginning in its initial phase with the potential to ramp up to half a million. About one quarter of funding raised through the IPO will be specifically allocated to this project.
As of June, the heap leach facility was 67 per cent completed.
“First gold processing is expected by the end of 2025, with commercial production starting in early 2026,” Merdeka Copper Gold has specified.
Merdeka Copper Gold is a major player in Indonesia’s mining industry. The ongoing precious metals and copper rally has helped Merdeka climb by over 50 per cent year to date on the IDX.
The Tujuh Bukit Gold Mine and Tujuh Bukit Copper Project beneath its surface in the nation’s East Java province are two of the company’s other major operations.
Indonesia holds the world’s fifth largest gold reserves and is considered to sit in spot number seven on the list of the world’s top producers. Merdeka is a significant contributor. The gold producer is shooting to churn out 110,000 ounces this year.
Ya Merdeka Gold Resources Tbk.
Range spread harga lebar banget.
UW PD LG DH pic.twitter.com/Lzahw41YvR
— Ed. (@SocialiteGhibah) September 8, 2025
Read more: NevGold Corp’s limousine Butte drill program targets first Gold-Antimony resource estimate
Read more: GoldMining chooses to retain its NevGold shares for next 18 months
Follow Rowan Dunne on LinkedIn
rowan@mugglehead.com
