Antam's Four Gold Exploration Permits Revoked Over Prolonged Inactivity, Not Lack of Reserves
JAKARTA. The government has revoked four gold exploration Mining Business Permits (IUP) belonging to PT Aneka Tambang Tbk (ANTM), commonly known as Antam.
Antam President Director Nicolas D. Kanter stated that the revocation of the four gold exploration IUPs was not due to an absence of reserves.
According to Kanter, who goes by Nico, the government at the time — through then Minister of Investment and Downstreaming/Head of the Investment Coordinating Board (BKPM) for 2019–2024, Bahlil Lahadalia — revoked the four IUPs on the grounds that management had been inactive for too long.
"The reason for the revocation was that there were concerns about why they had been dormant for so long. In fact, we had issues in our business plan, safety concerns, because the area is a high-risk zone," Nico explained at the parliamentary complex in Jakarta on Wednesday (30/04).
As the revocation decision rests with BKPM, Nico said his team would shortly comply with a summons from the current Minister of Investment and Downstreaming/Head of BKPM, Rosan Roeslani.
"We need to prepare all the documents and everything required, so that when we are called in, God willing, we will have a more concrete and clearer plan. That is what we are preparing," he said.
Regarding the addition of new gold reserves, Nico said Antam has identified three areas in Indonesia with potential for acquisition as Antam-owned mines.
"If I disclose them here, others will compete for them. But we already have three priority areas," he said.
For reference, the four Antam IUPs revoked by BKPM at the time were located in the Oksibil (Venus) area, Pegunungan Bintang Regency, Papua Province, with the following Mining Decree details:
1. BKPM RI Decree No. 622/I/IUP/PMDN/2021
2. BKPM RI Decree No. 234/1/IUP/PMDN/2020
3. BKPM RI Decree No. 234/1/IUP/PMDN/2020
4. BKPM RI Decree No. 234/1/IUP/PMDN/2020
Antam President Director Nicolas D. Kanter stated that the revocation of the four gold exploration IUPs was not due to an absence of reserves.
According to Kanter, who goes by Nico, the government at the time — through then Minister of Investment and Downstreaming/Head of the Investment Coordinating Board (BKPM) for 2019–2024, Bahlil Lahadalia — revoked the four IUPs on the grounds that management had been inactive for too long.
"The reason for the revocation was that there were concerns about why they had been dormant for so long. In fact, we had issues in our business plan, safety concerns, because the area is a high-risk zone," Nico explained at the parliamentary complex in Jakarta on Wednesday (30/04).
As the revocation decision rests with BKPM, Nico said his team would shortly comply with a summons from the current Minister of Investment and Downstreaming/Head of BKPM, Rosan Roeslani.
"We need to prepare all the documents and everything required, so that when we are called in, God willing, we will have a more concrete and clearer plan. That is what we are preparing," he said.
Regarding the addition of new gold reserves, Nico said Antam has identified three areas in Indonesia with potential for acquisition as Antam-owned mines.
"If I disclose them here, others will compete for them. But we already have three priority areas," he said.
For reference, the four Antam IUPs revoked by BKPM at the time were located in the Oksibil (Venus) area, Pegunungan Bintang Regency, Papua Province, with the following Mining Decree details:
1. BKPM RI Decree No. 622/I/IUP/PMDN/2021
2. BKPM RI Decree No. 234/1/IUP/PMDN/2020
3. BKPM RI Decree No. 234/1/IUP/PMDN/2020
4. BKPM RI Decree No. 234/1/IUP/PMDN/2020