Antam secures supply via 3-tonne-per-year gold sales and purchase agreement

Gold is presented to the nation as bullion that endures the test of time and can be handed down through generations. Jakarta — PT Aneka Tambang (Persero) Tbk, or Antam, has signed a gold sales and purchase agreement (GSPA) with a transaction volume of 3 metric tonnes of gold per year to ensure the continuity of supply of raw materials for the domestic gold industry.

“With this agreement, we strengthen Antam’s vision of gold sourced from Indonesian mines, refined at the only and oldest LBMA-certified refinery in Indonesia,” said Handi Sutanto, Commercial Director of Antam, in a statement received in Jakarta on Wednesday.

The agreement was signed by Antam with PT Bumi Suksesindo (BSI) and PT Puncak Emas Tani Sejahtera (PETS), members of the Merdeka Group holding.

Each GSPA is valid for two years with a transaction volume of 3 metric tonnes of gold per year. In this scheme, Antam acts as the buyer, while BSI and PETS act as sellers.

Handi said Antam plays the role of a conduit between miners and the market, linking Indonesia’s mined outputs to refined gold ready for public ownership.

“(Gold) is presented to the nation as bullion that is resilient and can be handed down through generations,” Handi said.

Through the GSPA, Handi explained, the transaction of domestically refined gold granules is conducted in a structured manner, strengthening upstream-to-downstream supply chain integration within the country.

Handi added that supply certainty from accountable sources is an important foundation for maintaining the strength of the Antam gold brand.

“We want Antam gold to be ethical, safe and comfortable for the public to own. This aligns with the company’s ESG commitments, which we continue to reinforce,” he said.

Handi also stressed that as a national gold brand, Antam does not escape public attention, including social media. However, the company views this dynamic as part of the public’s affection for the national gold brand.

“We ensure all processes comply with governance standards and applicable regulations,” Handi said.

Meanwhile, Albert Saputro, President Director of PT Merdeka Copper Gold Tbk, said the cooperation with Antam is a strategic step to ensure optimal absorption of Merdeka’s gold production domestically, while strengthening the national upstream-downstream supply chain integration.

“This GSPA provides certainty of production absorption, while strengthening our contribution to the domestic gold industry,” Albert said.