Merdeka Copper Gold (MDKA) Reports Revenue of Rp 32.06 Trillion, Down 15.62% in 2025

JAKARTA, KOMPAS.com - PT Merdeka Copper Gold Tbk (MDKA) booked revenue of US$1.89 billion throughout 2025.

MDKA’s revenue equates to Rp 32.06 trillion, assuming an exchange rate of Rp 16,967 per US dollar.

This figure represents a 15.62% year-on-year decline compared to US$2.24 billion for the same period in the previous year.

MDKA President Director Albert Saputro stated that throughout 2025, the company continued to strengthen its business foundation through scaling up operations and developing strategic projects.

“With significant progress across all our projects and increasingly strong contributions from subsidiaries, we are optimistic about continuing our growth momentum and creating long-term value for shareholders and stakeholders,” he said in a written statement on Wednesday (1/4/2026).

Throughout 2025, MDKA recorded an EBITDA of US$373 million, supported by a 32% year-on-year increase in the average selling price (ASP) of gold and a 44% year-on-year rise in nickel ore production.

“This also reflects the scaling up of operations and significant progress in the company’s strategic projects,” he added.

In 2025, the Tujuh Bukit Gold Mine produced 103,156 ounces of gold. Meanwhile, PT Merdeka Gold Resources Tbk (EMAS) made significant progress in developing mining operations and processing facilities at the Pani Gold Mine in 2025.

Entering 2026, the Pani Gold Mine commenced its first gold production on 14 February 2026 and realised its initial gold sales to PT Aneka Tambang (Persero) Tbk (ANTM) on 16 March 2026, marking the start of the production and monetisation phase that will significantly support future financial performance.

Supported by gold production plans from PT Merdeka Gold Resources Tbk and a competitive cost structure, Albert stated that the gold segment’s contribution to the group’s production and cash flow will increase significantly going forward.