Safeguarding Gold Stock, Antam Partners with Merdeka Group
PT Aneka Tambang (Persero) Tbk, or Antam, has signed gold sales and purchase agreements (GSPAs) with two firms to ensure the continuity of supply of domestically sourced raw materials for the gold industry, with a total transaction volume of 6 metric tonnes of gold per year. ‘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, Antam’s Commercial Director, as quoted by Antara on Wednesday, 4 March 2026.
The agreements were signed between Antam and PT Bumi Suksesindo (BSI) and PT Puncak Emas Tani Sejahtera (PETS), both 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. Under this arrangement, Antam acts as the buyer while BSI and PETS act as sellers.
Handi stated that Antam serves as a link between miners and the market, connecting domestic mining outputs to refined gold ready for public ownership. ‘(The gold) is presented to the nation as gold that stands the test of time and can be passed down through generations,’ Handi said.
Through these GSPAs, Handi continued, transactions for gold granules produced by domestic refining are conducted in a structured manner, strengthening the upstream-to-downstream integration of the domestic supply chain.
Handi added that the certainty of supply from responsibly sourced origins is an essential foundation for maintaining the strength of Antam’s gold brand. ‘We want Antam’s gold to be ethical, safe, and comfortable for the public to own. This aligns with the company’s ESG commitments, which we continue to strengthen,’ he said.
He emphasised that as a national gold brand, Antam does not escape public scrutiny, including on social media. However, the company regards these dynamics as part of the public’s passion for the national gold brand. ‘We ensure that all processes comply with governance standards and applicable regulations,’ Handi said.
Meanwhile, Albert Saputro, President Director of PT Merdeka Copper Gold Tbk, said that the collaboration with Antam is a strategic move to secure optimal absorption of Merdeka’s gold production domestically, while also strengthening the national upstream-to-downstream supply chain integration. ‘This GSPA provides certainty of offtake and strengthens our contribution to the domestic gold industry,’ Albert said.