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View all search resultsState-owned Perminas to assume control of Martabe gold mine
The Martabe gold mine in North Sumatra, operated by PT Agincourt Resources, will be transferred to state control under the newly formed National Mineral Company (Perminas), ending recent speculation about one of Indonesia's major gold assets.
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A worker walks across an operational area at the Martabe gold mine located in the Batang Toru district of South Tapanuli, North Sumatra. (JP/Ruth Dea Juwita)
T
he Martabe gold mine in North Sumatra, operated by PT Agincourt Resources, will be transferred to state control under the newly formed National Mineral Company (Perminas), ending recent speculation about the future of one of Indonesia's major gold assets.
Agincourt Resources is a subsidiary of publicly listed PT United Tractors.
The mine is among 28 companies that have had their permits revoked by the Forest Area Regulation Task Force after the Sumatra flooding and landslide disaster for alleged regulatory breaches concerning forest area use.
Dony Oskaria, chief operating officer of state asset fund Danantara, distinguished Perminas from other mining state-owned enterprises previously rumored to be potential acquirers, namely mining holding company MIND ID and its subsidiary, PT Aneka Tambang (Antam).
“[The Agincourt mine will be handled by] Perminas. So, we have a newly formed national mineral company,” he said in Jakarta on Wednesday, as reported by Kompas.com.
“It's not [part of MIND ID], Perminas is a separate company. It belongs to Danantara,” he emphasized, confirming that Antam would not be managing the Martabe operation.
The development follows a broader government policy to restructure control over natural resources.
