Setting An Income Target Of IDR 100.3 Trillion, This Is MIND ID's Strategy

Illustration. (Photo: Doc. Golden Energy Mines)

JAKARTA - Holding State-Owned Mining Enterprises (BUMN) MIND ID targets revenue to grow to IDR 100.3 trillion this year. Likewise, the company's assets are projected to increase to IDR 234.6 trillion.

"We project assets to reach IDR 234.6 trillion, revenue to reach IDR 100.3 trillion," said MIND ID President Director Hendi Prio Santoso during a hearing with Commission VI of the Indonesian House of Representatives (DPR RI), Wednesday, May 25.

The company also projects that the Earning Before Interest, Taxes, Depreciation, and Amortization (EBITDA) in 2023 will reach IDR 25.3 trillion, while the net depth to EBITDA will reach 3.5 times.

"Meanwhile, the interest-bearing date will reach IDR 114.9 trillion, net profit to reach IDR 12.1 trillion, cash and cash equivalents to reach IDR 26.9 trillion," he said.

MIND ID Strategy

Hendi explained that the projection will be achieved by increasing growth, exploration and production aggressively. The company will also continue to add potential and strategic reserves for all commodities in the group.

"By participating in the WUPK, PKP2B auction tenders and also we continue to observe the potential for potential mine acquisitions both at home and abroad to increase strategic reserves," he said.

In addition, Hendi said, specifically the company will also study the life for mine plant for PT Freeport Indonesia. This includes carrying out a sustainable exploitation program to ensure supply for downstream strategic initiatives in each commodity.

Furthermore, Hendi said the company will also monitor the integrated exploration program in MIND ID.

"The next aspect is increasing cost competitiveness through digital, we are mandated to implement digitalization of production using smart mining technology and modern smelters, then also implement fanji automation technology with strategic partners," he explained.