PT Merdeka Gold Resources Tbk (“Merdeka Gold Resources”, “MGR” or the “Company”; IDX: EMAS), the owner and operator of the Pani Gold Mine and a majority-owned subsidiary of PT Merdeka Copper Gold Tbk (“MDKA” or the “Group”; IDX: MDKA), has completed its secondary listing on the Main Board of The Stock Exchange of Hong Kong Limited (“HKEX”) in the form of Hong Kong Depositary Receipts (“HDRs”) and officially commenced trading today under stock code 6228.
MGR’s secondary listing on the Main Board of HKEX marks a historic milestone for the Company and represents a breakthrough for Indonesia’s capital markets on the global stage. Despite the prevailing macroeconomic uncertainties, the successful completion of this cross-border Public Offering underscores MGR’s robust business resilience and disciplined execution capabilities. By clearing the rigorous regulatory, corporate governance, and disclosure requirements of one of the world’s leading international financial centers, MGR has gained international validation that extends beyond typical emerging-market benchmarks. Meanwhile, this achievement reflects the confidence that sophisticated international investors have in high-quality Indonesian assets with solid fundamentals. As a landmark precedent, this listing is set to inspire more Indonesian enterprises with global ambitions, collectively enhancing Indonesia’s competitiveness and standing within the global financial ecosystem.
The Hon Christopher HUI, GBS, JP, Secretary for Financial Services and the Treasury and Mr. Santoso KARTONO, President Commissioner of MGR (right).
(From left to right)
– Mr. Xinyu WANG, Commissioner of MGR
– Mr. Suryadinata TANU, Director of MGR
– Ms. Christina CHOI, Executive Director of the Securities and Futures Commission
– Dr. Kelvin WONG, SBS, JP, Chairman of the Securities and Futures Commission
– The Hon Christopher HUI, GBS, JP, Secretary for Financial Services and the Treasury
– Dr. Jona Widhagdo PUTRI, Independent Commissioner of MGR
– Mr. Santoso KARTONO, President Commissioner of MGR
– Mr. Carlson TONG, Chairman of Hong Kong Exchanges and Clearing Limited
– Mr. Julian LEE, Deputy Chairman of the HKEX Listing Committee
– Ms. Bonnie Y CHAN, Chief Executive Officer of Hong Kong Exchanges and Clearing Limited
– Mr. Boyke Poerbaya ABIDIN, President Director of MGR
– Ms. Jessica WATTIMENA, Authorized Representative of MGR
– Mr. John Mackay McCulloch WILLIAMSON, Independent Commissioner of MGR
(From left to right)
– Mr. Vincent LIU, CNGR Advanced Material Co., Ltd.
– Mr. Xin ZHI, Provident Capital Partners
– Mr. Liguo DING, Delong Iron and Steel Industry Group Co., Ltd.
– Mr. Xuehua CHEN, Zhejiang Huayou Cobalt Co., Ltd.
– Mr. Boyke Poerbaya ABIDIN, President Director of MGR
– Mr. Santoso KARTONO, President Commissioner of MGR
– Dr. Jona Widhagdo PUTRI, Independent Commissioner of MGR
– Mr. John Mackay McCulloch WILLIAMSON, Independent Commissioner of MGR
– Mr. Mingqing GAO, Wanguo Gold Group Limited
– Ms. Jinzhu GAO, Wanguo Gold Group Limited
– Mr. Shizhou YIN, JCHX Mining Management Co., Ltd.
(From left to right)
– The Hon Christopher HUI, GBS, JP, Secretary for Financial Services and the Treasury
– Mr. Santoso KARTONO, President Commissioner of MGR
– Ms. Christina CHOI, Executive Director, Corporate Finance of the Securities and Futures Commission (SFC)
Mr. Santoso KARTONO, President Commissioner of MGR strikes the gong to mark the Company’s successful listing on the Main Board of HKEX.
Dr. Jona Widhagdo PUTRI, Independent Commissioner of MGR delivers a speech.
Mr. Boyke Poerbaya ABIDIN, President Director of MGR (right) presents a souvenir to HKEX.
About PT Merdeka Gold Resources Tbk
PT Merdeka Gold Resources Tbk (IDX: EMAS) is an Indonesian gold mining company majority-owned by PT Merdeka Copper Gold Tbk (IDX: MDKA). The Company completed its listing on the Indonesia Stock Exchange in September 2025, as part of the Group’s efforts to optimize its capital structure and improve corporate transparency. MGR’s primary asset is the Pani Gold Mine in Gorontalo, Indonesia, one of the largest primary gold mines in Indonesia, with Mineral Resources of 7.0 million ounces of gold and an estimated mine life of approximately 15 years. Production is supported by a Heap Leach (“HL”) facility with an initial capacity of 8 million tonnes per annum. The Pani Gold Mine commenced initial mining activities in October 2025, achieved first gold production in February 2026, and completed its first gold sales in March 2026. The Company also plans to develop a Carbon-in-Leach (“CIL”) facility, targeting to commence operation in 2028 and scale up to a capacity of 22 million tonnes per annum by 2028, enabling peak production of approximately 545,000 ounces of gold per year by 2031.