Gold Price Boosted as Merdeka Gold Resources Begins Commercial Production and Sales in Indonesia

Merdeka Gold Resources Starts Selling Gold Bullion from Pani Mine

PT Merdeka Gold Resources Tbk (EMAS) now produces gold from its Pani mine in Pohuwato, Gorontalo, Indonesia. The subsidiary PT Puncak Emas Tani Sejahtera (PETS) sold 16.06 kilograms of gold bullion to PT Aneka Tambang (Persero) Tbk (ANTM). This sale comes under a Gold Sales and Purchase Agreement that ties local gold output to a strong national supply chain.

Increased Gold Reserves and Production Targets for 2026

EMAS has raised its gold ore reserves to 203.1 million tons by December 31, 2025. The ore holds an average grade of 0.79 grams per ton, which means the reserve holds about 5.2 million troy ounces of gold. This rise comes from solid exploration work and new models in geology and mine planning through 2025. In 2026, EMAS aims to produce between 100,000 and 115,000 troy ounces of gold. The company moves fast to build a processing plant and refine mining work. It runs an exploration program with several diamond drill rigs and plans to add more rigs to drill over 32,000 meters this year, widening its mineral resource base.

Impact on Gold Market and Gold Investing in Indonesia

Merdeka Gold Resources now feeds more bullion into the local market. The sale to Antam, a top gold maker and refiner in Indonesia, joins the effort to build a reliable gold supply chain in the region. The mining work and sale help tie the field closer to the country’s gold market.

The link between mining work and the firm’s shares shows in market numbers. EMAS shares have grown by over 152% since the IPO in October 2025, with a rise of 17.9% in the past month and 9.3% over five days.

Gold Price Context and Market Dynamics

Local gold prices at Antam see changes. Mid-March 2026 prices moved between 2.98 million and 3.02 million Indonesian Rupiah per gram. The boost in production and supply from operations like Pani may change pricing as world money trends play a part.

Summary

• Merdeka Gold Resources starts selling gold bullion from its Pani mine as it begins production.
• Gold ore reserves grow to around 5.2 million troy ounces by the end of 2025 from steady exploration work.
• Production in 2026 is set between 100,000 and 115,000 troy ounces.
• A trade contract with Antam ties local gold supply to market work.
• EMAS share prices grow strongly after production steps.
• Local gold prices shift as supply and global money trends affect the market.

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