Merdeka Gold Resources begins operations at Pani Gold Mine in Indonesia

Core Insights - Merdeka Gold Resources (MGR) has commenced mining operations at the Pani Gold Mine in Gorontalo Province, Indonesia, following its recent IPO that raised Rp4.66 trillion ($276 million) for mine development [1][5] Group 1: Mining Operations - The mining operations began with overburden stripping and initial ore extraction, with plans for the mine to be developed in stages as an open-pit mine [1][2] - The mine contains over seven million ounces of gold, with an initial target of producing around 140,000 ounces of gold annually from seven million tonnes of ore using heap leach processing [2][3] Group 2: Processing Facilities - A carbon-in-leach (CIL) processing facility is planned, with an initial capacity of 7.5 million tonnes per annum (mtpa) of ore, expanding to 12 mtpa by 2030 [3] - Once both heap leach and CIL facilities are operational, they will handle a combined total of 19 mtpa of ore, with a maximum annual production potential of up to 500,000 ounces of gold [3] Group 3: Economic Impact and Commitment - MGR's development of the mine is expected to support the local economy in Pohuwato Regency and Gorontalo Province in the long term [4] - The company emphasizes its commitment to responsible operations, adhering to high environmental, social, and governance (ESG) standards [5]