ANTM Signs Gold Purchase Deal with MDKA and EMAS for 3 Tonnes per Year

Jakarta, CNBC Indonesia – PT Merdeka Copper Gold Tbk. (MDKA) and PT Merdeka Gold Resources Tbk. (EMAS) have signed a Gold Sales & Purchase Agreement with PT Aneka Tambang (Persero) Tbk. (ANTM). A press release received by CNBC Indonesia stated that the signing was made through two subsidiaries, PT Bumi Suksesindo as an MDKA subsidiary and PT Puncak Emas Tani Sejahtera as EMAS’s subsidiary. The GSPA is valid for two years with a transaction volume of 3 tonnes per year with an option to add a further 3 tonnes per year. Bumi Suksesindo and Puncak Emas act as sellers, while Antam acts as the buyer of the gold granules refined domestically. Albert Saputro, President Director of Merdeka Copper Gold, said the collaboration is a strategic step to ensure the absorption of gold production within the Merdeka Group, while strengthening the national upstream-downstream supply chain. “With production base from Tambang Emas Tujuh Bukit and Tambang Emas Pani, we need a stable and measured offtake structure. This GSPA provides the assurance of production absorption while strengthening our contribution to the domestic gold industry,” said Albert. Meanwhile, Handi Sutanto, Commercial Director of Aneka Tambang, stated that the collaboration is evidence of national gold sovereignty, where Indonesia’s mined output is refined into pure gold ready for public ownership. The Merdeka Group’s gold production under the agreement with ANTAM comes from two mining operations: Tambang Emas Tujuh Bukit in Banyuwangi, East Java, operated by PT Bumi Suksesindo, a MDKA subsidiary, which has been in production since 2017, and Tambang Emas Pani in Pohuwato Regency, Gorontalo Province, which is operated by PT Puncak Emas Tani Sejahtera, under the control of PT Merdeka Gold Resources Tbk.