The formation of state-owned holding for mining is estimated to increase the business scales of Aneka Tambang Tbk (ANTM), Timah Tbk (TINS), and Bukit Asam Tbk (PTBA). Total holding asset reached 70 trillion IDR.
Based on the company’s financial statements, PTBA’s current asset has reached16,62 trillion IDR, ANTM’s has reached 29,85 trillion IDR, TINS’s has reached 8,76 trillion IDR, and Inalum’s has reached 14,3 trillion IDR.
President Director of ANTM Tedy Badrujaman said that the holding formation will increase the business scale, business diversification, position, financial liquidity, and operational cost efficiency. The integration and consolidation in state-owned mining company will increase the profile of mineral resources and coal through exploration and acquisition.
“State-owned holding for mining will support the optimization of downstream natural resources program, creating a national mining company that can compete globally and grow into a major mining company in the world,” said Tedy.
Aloysious Kiik Ro, Deputy of Restructuring and Expansion Ministry of SOE, said that the holding formation was a step for the government to be a stockholder to strengthen the performance and restructure the state-owned mining company. Consolidation in state-owned mining company is considered to be more rapid, optimized, and controlled under Inalum which was formerly 100% owned by government. (*)
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