Martabe Gold Mine to be transferred to Perminas, Management Speaks Out

JAKARTA - PT Agincourt Resources (Perseroan) (PTAR) management spoke up regarding the government's plan to transfer the management rights of the Martabe gold mine to a new SOE, namely PT Perminas.

In its statement, management ensured that it would respect the Government's directions and policies, and cooperate in following all applicable administrative procedures and legal provisions.

"Our priority is to ensure good corporate governance and responsible and sustainable mining practices, in order to create added value for all stakeholders," said Senior Manager of Corporate Communications at PT Agincourt Resources, Katarina Siburian Hardono, Thursday, January 29.

He added that the company would also continue to prioritize compliance with regulations to ensure certainty of business and operational sustainability, in accordance with the rights and obligations set forth in laws and regulations.

Quoted from Antara, the plan for the transfer of management to Perminas was conveyed by the Chief Operating Officer (COO) of the Anagata Nusantara Power Investment Management Agency (Danantara Indonesia) Dony Oskaria.

"To Perminas. So there is a National Mineral Company (Perminas) that we have just formed," said Dony when met after the "Danantara: Moving Giants, Turning on the Indonesian Economic Machine" event held in Jakarta, Wednesday, January 28.

Later, he said Perminas would operate directly under Danantara.

"The government's business is under Danantara, isn't it? Of course it is handed over to Danantara. (Perminas) the company is under Danantara," he said.

However, Dony said that the communication regarding the transfer of management of the Agincourt mine was not communicated by Danantara.

He said the move was not part of Danantara's duties.

"It's not with us, yes. It will be communicated later," said Dony.