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AGO intensifies probe into Antam gold scandal
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An employee shows two bars of gold produced by state-owned diversified mining company PT Aneka Tambang (Antam). (kompas.com/Garry Andrew Lotulung)
T
he Attorney General’s Office (AGO) has been intensifying an investigation into alleged corruption at state-owned diversified miner PT Aneka Tambang (Antam) involving unsanctioned use of Antam's logo on gold bars after last week naming six suspects in the case.
The AGO has found indications that the mining company had commissioned the use of the Antam logo on illegally sourced gold bars for more than a decade, which yielded an estimate of 109 tonnes of gold bars between 2010 and 2021.
The scandal has sparked a crisis of confidence among the public, with many Indonesians who bought Antam gold fearing that they have invested money in counterfeit goods.
AGO spokesperson Ketut Sumedana gave an assurance that the 109 tonnes of gold bars were genuine, but that they were sourced from either illegal mines or privately owned mines that did not go through Antam’s strict inspection.
“Why we suspect there’s foul play, is because of the unsanctioned use of the Antam brand,” he said on Tuesday, adding that he suspected the practice had caused state losses.
“Not to mention that this has resulted in an oversupply of Antam gold bars [...], causing a plummet in market prices,” he added.
Ketut said that AGO investigators had already begun working with the Development Finance Comptroller (BPKP) to calculate the losses the state incurred from the case.
