MIND ID posts positive performance growth in 2020

Jakarta, 6 May 2021 – MIND ID, the Holding State Enterprise for the Mining Industry, with members PT ANTAM Tbk, PT Bukit Asam Tbk, PT Freeport Indonesia, PT Inalum (Persero) and PT Timah Tbk, posts positive performance in 2020, in the midst of the Covid-19 pandemic. The growth of the operational and financial performance of the Company in 2020 is a reflection of the mining industry’s contribution as one of the strategic sectors which can support economic strengthening in facing the pandemic.

In 2020, the Company implemented a strategic policy on the management of mining industry operations throughout the entire MIND ID Group, to conform to the Covid-19 pandemic. The Company encouraged the MIND ID Group to accelerate the effectivity of production and sales performance, conduct operational innovations supporting efficient cost management, executing opportunities for business growth to maintain competitiveness, and ensure the compliance of health protocols throughout all operations areas in order to achieve Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) in 2020 of Rp 11.3 trillion or an increase of 33.8% compared to 2019 which came to Rp 8.4 trillion.

MIND ID continually ensures the effectivity of production and sales performance of all mineral commodities under its management, from gold and precious metal refinery services, coal, tin and tin solder, aluminum, ferronickel and nickel ore. These efforts were reflected in the achievement of gross profit in 2020 of Rp 11.6 trillion and operating profit of Rp 5.1 trillion. The Company also expanded its mineral commodity management portfolio through acquisitions to accelerate business growth.

Theses series of strategic policies in managing mining industry operations, resulted in the Company’s success in posting net profit of Rp 1.8 trillion, or an increase of 7.318% compared to 2019 of Rp 24.5 billion.

MIND ID Group CEO Orias Petrus Moedak said that “In the midst of the challenges brought on by the Covid-19 pandemic, the Company succeeded in posting positive performance. This achievement is a reflection of MIND ID’s capabilities in responding to the changes and dynamics presented by the pandemic which necessitated the implementation of operational activities based on new normal of doing business.”

MIND ID posted total revenues of Rp 66.6 trillion in 2020. The three biggest contributors to company revenues came from gold commodity of 29.1%, coal 25.9% and tin 21.5%. While aluminum contributed 9.8%, ferronickel 7%, nickel ore 2.9% and others, 3.7%.

Production & Sales in 2020

No	Commodity	Unit	Production	Sales
1	Ferronickel	TNi	25.969,83	26.162,71
2	Nicorekel	WMT	4,76 juta	3,30 juta
3	Gold (mining and trading)	Ton	1,67 (penambangan)	1,31 (penambangan) 20,78 (perdagangan)
4	Bauxite ore	WMT	1,55 juta	1,23 juta
5	Coal	Ton	24,84 juta	26,12 juta
6	Aluminium	Ton	245.128,00	250.235,00
7	Tin Metal	Ton	45.698,00	50

Orias said that, “In 2021, the Company shall continue to consider new opportunities which have the potential to support business growth while continuing to conduct risk mitigation on a measured basis.”

In the efforts to support the Company in making its mandate a reality and achieving its target, the General Meeting of Shareholders of MIND ID and the Annual General Meeting of Shareholders of Members, have decided some changes in the management and position nomenclature as follows:

Group CEO Orias Petrus Moedak
Director of Strategic Services Ogi Prastomiyono
Director of Business Transformation and Development Usaha Normansyah Duliar
Director of Institutional Relations Dany Amrul Ichdan
Managing Director Sophia Isabella Wattimena

The new organizational structure is intended to achieve the targets which have been determined through the adoption of the key behaviours of Agile, Going Extra Miles and Accountable, in order to achieve optimal performance in 2021.