MIND ID Earns Revenue Of IDR 145.2 Trillion And Profit Of IDR 40.2 Trillion In 2024

JAKARTA - Mining Industry BUMN Holding PT Mineral Industri Indonesia (Persero) or MIND ID recorded a profit in 2024 of IDR 40.2 trillion, up 46 percent compared to 2023 which was recorded at IDR 27.5 trillion.

In the audited 2024 financial report, MIND ID posted revenue of IDR 145.2 trillion, growing 34.56 percent from the previous year.

"With this good performance achievement, MIND ID as the driver of downstream Indonesia hopes to have a positive impact, not only for the business continuity of the company in the future, but also for the growth of economic and state performance," said MIND ID President Director Maroef Sjamsoeddin through an official statement in Jakarta, quoted by Antara, Thursday, June 11.

The company's assets recorded an increase to IDR 292.1 trillion from IDR 259.2 trillion. The cost of revenue rose from IDR 90 trillion to IDR 124.6 trillion, following production expansion and downstreaming in all subsidiaries.

In the MIND ID General Meeting of Shareholders (GMS), the Audit Consolidation Financial Report for the 2024 Fiscal Year has been approved with a reasonable opinion in all material matters. This achievement marks confidence in the governance and transparency carried out by the company.

The GMS also approved the distribution of dividends of 55 percent of the profit attributable to owners of the parent entity for the 2024 financial year of IDR 36.5 trillion, which is IDR 20.1 trillion. This value has increased compared to the dividend for the 2023 financial year of IDR 17.14 trillion.

Furthermore, the remaining 45 percent of net profit or around Rp. 16.44 trillion will be allocated to support the continuation of the downstream program run by the MIND ID Group.

Maroef said that the implementation of Good Mining Practice has also become the main motor for strengthening the company's performance. According to him, sustainability is not just compliance, but a long-term strategy.

"We are trying to ensure that the operation is in accordance with good mining governance, so that the added value of the downstream program can be felt by all parties, including social and environmental," he said.

Throughout 2024, MIND ID completed a number of strategic projects such as Smelter Grade Alumina Refinery (SGAR) Phase I in Mempawah, Smelter Copper and Precious Metal Refinery, as well as trials of coal conversion into artificial graphite and anodized sheet.

In 2025, MIND ID prioritizes the construction of SGAR Phase II in Mempawah, RKEF & HPAL facilities in East Halmahera, the optimization of Precious Metal Refinery, the construction of PLTG in Gresik, and the improvement of Tanjung Enim-Keramasan coal transportation.

The company is also developing three strategic nickel projects in Sulawesi, namely the Pomalaa Indonesia Growth Project (IGP), Morowali IGP, and HPAL Sorowako, to strengthen the foundations of the national electric vehicle ecosystem.