MIND ID Supports Industrial Sector Contribution With Downstreaming Success

Jakarta, 10 January 2025 – MIND ID, the State-Owned Holding Enterprise for the Mining Industry, has completed various mineral down streaming projects in Indonesia. The Company hopes that the players in the manufacturing industry sector can absorb mineral raw material products from Indonesia to create more optimal economic added value.

MIND ID has again held “MINDialogue”, which was attended by the Minister of State-Owned Enterprise, Erick Thohir, Special Council to the President for National Economic and Development Affairs, Bambang Brodjonegoro, Chairman of DPR Commission XII, Bambang Patijaya, Member of the National Economic Council, Septian Hario Seto, and Academician and Public Policy Observer, Andrinof Chaniago.

MIND ID President Director, Hendi Prio Santoso, MIND ID Director of Business Development Portfolio, Dilo Seno Widagso, and MIND ID Commissioner Board and Board of Directors, were also present in Jakarta, on Thursday (9/1/2025). 

Eric disclosed that the government is currently boosting down streaming efforts consistently and continuing to industrialization.

Erick provided, as an example, the gold synergy between ANTAM and Freeport Indonesia in gold purchase, in which the Ministry of State-Owned Enterprises is in the efforts of encouraging the continuity of the cooperation, by forming the Bullion Bank in Indonesia.

The Ministry of State-Owned Enterprises is also a proactive stakeholder in encouraging the MIND ID Group to implement nickel-down streaming efforts, which can be continued to the formation of the EV Battery ecosystem in Indonesia.

“We are aware that the best option to achieve 8% economic growth is through down streaming and industrialization. Of course, we continue to encourage the continuation of the down streaming and industrialization efforts to be the blueprint of our future strategic steps,” he said. 

Erick took the opportunity to also express his appreciation to the MIND ID Group which has been able to operate its down streaming tasks and to post extremely good corporate performance.

“MIND ID’s contribution through taxes, PNBP, and dividends continues to grow. This is the equilibrium which we applied together, in which a healthy corporation and the tasks of the country continue to be implemented,” he said. 

Hendi Prio Santoso also added that MIND ID and members, from PT Aneka Tambang Tbk, PT Bukit Asam Tbk, PT Freeport Indonesia, PT Indonesia Asahan Aluminium, PT Timah Tbk, and PT Vale Indonesia Tbk, have consistently implemented their function to manage mineral reserves and at the same time, and become movers of the mineral mines down streaming efforts in Indonesia.

Various projects that have been carried out include the down streaming of tin, bauxite, nickel, copper, and coal. Through PT TIMAH, Indonesia has been able to produce tin chemicals and tin solder, which are very beneficial for the electronic industry.

Through SGAR Mempawah, Indonesia has also been able to produce aluminium from bauxite derived from the domestic mineral commodity. Furthermore, through ANTAM and Vale Indonesia, consistently operating the nickel down streaming efforts in Pomala, Halmatera, and Sorowako with the HPAL and RKEP smelters.

Through Freeport Indonesia, Indonesia is also capable of producing copper concentrate to become copper cathode, and in the future, will be capable of producing precious metal with the establishment of the Precious Metal Refinery (PMR) at Gresik.

“With these strategic projects, the MIND ID Group is consistent in raising the added value of minerals to become raw material with better-added value,” he said,

Hendi further elaborated that the MIND ID Group hopes the raw material produced will be able to be absorbed more optimally by the manufacturing industry.

The multiplier effect from the results of mineral and coal manufacturing can be stronger, therefore capable of boosting economic performance and absorbing the working force.

“We state our commitment to enable the supply of mineral raw material from Indonesia. We hope for the strategic collaboration of mining and manufacturing so that we will be able to achieve Indonesia Emas 2045” he stressed.