Our Portfolio
Provident has built businesses across a variety of industries, including telecommunications, infrastructure, technology, mining, biomass, plantations and oil & gas.
Our Portfolio
What We Do
Mining & Energy Transition
Provident has built businesses across a variety of industries, including infrastructure, mining, energy transition, technology and renewables. Provident’s businesses are currently mostly concentrated in Indonesia.
Merdeka Copper Gold
Merdeka Copper Gold (MDKA) is a leading Indonesian metal and mineral mining holding company which explores, extracts, and produces gold, silver, copper, and other minerals.
• Founded by Provident in 2012 and listed on the Indonesia Stock Exchange in 2015
• Market capitalisation: USD3.3 billion (30 June 2026)
• As of 31 December 2025, MDKA has a group Mineral Resources of 39.0Moz of gold, 9.1Mt of copper, 11.8Mt of nickel and 0.8Mt of cobalt
• Manages two operational assets:
- Tujuh Bukit Gold Mine in East Java
- Wetar Copper Mine in Southwest Maluku
• Holds controlling stake in Merdeka Battery Materials (MBMA) and Merdeka Gold Resources​ (EMAS)
• Developing the Tujuh Bukit Copper Project in East Java, one of the largest underdeveloped copper resources globally with Mineral Resources of 8.3Mt of copper, 28.1Moz of gold, and 73.0Moz of silver.
• Rated “A” by MSCI ESG Rating, highest rating received by an Indonesian metals and mining company
Merdeka Battery Materials
Merdeka Battery Materials (MBMA) operates high-quality nickel assets and processing facilities in the EV battery value chain.
• Founded by Provident in 2019 and listed on the Indonesia Stock Exchange in 2023
• Market capitalisation: USD2.8 billion (30 June 2026)
• Established strategic partnerships with leading battery materials companies, including CATL, GEM, Huayou Cobalt, and Tsingshan
• MBMA’s key assets include:
- SCM mine – the largest limonite nickel resource in the world with 11.8Mt of nickel and 0.8Mt of cobalt
- High pressure acid leach (HPAL) processing plants - produces MHP, a precursor material to EV batteries
- Rotary kiln electric furnace (RKEF) processing plants – produces nickel pig iron, a key ingredient in stainless steel
- Nickel matte conversion facility – produces high-grade nickel matte, a key feedstock for battery precursors
- Acid iron metal plant – produces multiple products including acid steam, copper, and gold
Merdeka Gold Resources
Merdeka Gold Resources (EMAS) operates the Pani Gold Mine, which is set to become one of Indonesia's largest primary gold mines with multi-decade mine life.
• First Indonesian company dual-listed on the Hong Kong Stock Exchange (HKEX) in 2026, following its IPO on the Indonesia Stock Exchange in 2025
• Market capitalisation: USD4.6 billion (30 June 2026)
• As of 30 June 2026, EMAS reported Mineral Resources of 7.4Moz of gold and 6.6Moz of silver
• Operates 8-10Mtpa heap leach plant with first gold production achieved in February 2026
• Developing a 12Mpta carbon-in-leach (CIL) plant targeted for commissioning in 2028
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Sihayo Gold
Sihayo Gold owns a 75% interest in the Sihayo Gold Project, located in North Sumatra in Indonesia.
• The Sihayo Gold Project has a Mineral Resources of 1.5Moz of gold
