Jakarta ( WNAM MONITORING): Indonesia has decided to establish a new state-owned enterprise, Perminas, dedicated to strategic rare earth mineral resources, State Secretary Minister Prasetyo Hadi said, confirming that the move was instructed by President Prabowo Subianto.
According to Hadi in Jakarta, on Friday, the president expected Danantara, Indonesia’s sovereign wealth fund, to set up the state company to “manage our minerals, specifically our strategic minerals”.
The minister said the government has marked mining areas to be managed by Perminas, including the Martabe gold mine in North Sumatra, which was managed by PT Agincourt Resources, whose operating license recently revoked over suspected regulatory violations.
Meanwhile, Danantara Indonesia CEO, Rosan Roeslani, stated that Perminas, short for Perusahaan Mineral Nasional (National Mineral Company), will focus on rare earth minerals, distinguishing it from the existing state-owned mining holding company MIND ID.
“We expect Perminas to focus on rare earth minerals. Moreover, each state-owned enterprise has its own distinct function,” Roeslani explained.
Regarding the potential takeover of the Martabe mining site, Roeslani said he is awaiting further instructions from the central government.
Earlier on Wednesday (January 28), Danantara Indonesia COO Dony Oskaria revealed plans for Perminas to take over the Martabe mine, noting that the company will operate under the national sovereign wealth fund.
