State Secretary Minister Prasetyo Hadi at the Danantara headquarters in Jakarta on Jan 30, 2026. - Antara
JAKARTA: Indonesia has decided to establish a new state-owned enterprise, Perusahaan Mineral Nasional (Perminas), to manage strategic rare earth mineral resources nationwide.
State Secretary Minister Prasetyo Hadi said the directive came directly from President Prabowo Subianto, who instructed Indonesia’s sovereign wealth fund, Danantara, to oversee the formation of the new entity.
"The government has identified several mining areas to be placed under Perminas, including the Martabe gold mine in North Sumatra previously operated by Agincourt Resources, whose operating licence was recently revoked over suspected regulatory violations,” he said as reported by Antara News Agency, on Friday.
Agincourt Resources was among 28 companies that had their operating licences revoked over alleged breaches of forest-use regulations, following severe floods and landslides that hit three provinces in northern Sumatra last November, claiming more than 1,000 lives.
Meanwhile, Danantara Indonesia chief executive officer Rosan Roeslani said Perminas would focus on rare earth minerals, distinguishing its role from existing state-owned mining holding company MIND ID.
On potential takeover of the Martabe mining site, he said further direction from the central government is still pending. - Bernama
