Having An Aggressive Plan, Holding BUMN Mining Explores Opportunities To Acquire Mines Abroad

MIND ID. (Photo: Doc. Antara)

JAKARTA - Holding BUMN Mining or MIND ID plans to acquire potential mining companies abroad. The corporate action, which began this year, is an effort to aggressively boost exploration and production activities.

Mind ID is a mining BUMN holding consisting of PT Aneka Tambang Tbk, PT Bukit Asam Tbk, PT Freeport Indonesia, PT Inalum, and PT Timah Tbk.

The President Director of MIND ID, Hendi Prio Santoso, said that the acquisition of the foreign mining company is included in the main program of the MIND Group this year.

"In the 2022 strategic program, we are also exploring opportunities to acquire potential foreign mining companies," said Hendi, in a meeting with Commission VII DPR, Wednesday, February 16.

Hendi added that his party is also continuing to carry out strategic programs to increase production by participating in special mining permit area auctions (WIUPK) and coal mining concessions (PKP2B), as well as other potential mines in the country. In addition, Mind ID will also conduct acceleration of the Life on Mine Plan study at PT Freeport Indonesia after 2041. This parent company will also provide adequate resources and reserves for the needs of downstream strategic initiatives. "We are also monitoring the integrated exploration program at Mind ID," said Hendi.

As of September 2021, Mind ID recorded revenues of IDR 63.8 trillion, up 34.9 percent compared to the previous year (year to date / ytd). Meanwhile, net profit rose nearly 800 percent year on year to reach Rp9.82 trillion. The increase in revenue and profit was also supported by the performance of production operations. Mind ID recorded coal production of 22.9 million tons or an increase of 18 percent ytd. In addition, the company also recorded gold production reaching 994 thousand ounces or growing 61 percent ytd, copper by 957 million pounds or up 76 percent ytd, bauxite 1.4 million tons, up about 5 percent ytd, and aluminum by 185 thousand tons, up 2 percent ytd.