Behind the Positive Performance of the Mining Industry, Observers Highlight This Major Homework

Analyst from the University of Indonesia (UI), Toto Pranoto, assesses the performance of the Mining Industry Holding MIND ID throughout 2025 as quite solid.

According to Toto, this performance reflects MIND ID’s ability to strengthen business integration from the upstream to downstream sectors. He states that, besides internal factors, the increase in global commodity prices due to geopolitical situations also contributes to the company’s financial performance.

“This performance demonstrates MIND ID’s improving ability in upstream-to-downstream business integration, beyond the windfall profits obtained due to rising commodity prices from unstable geopolitical situations,” said Toto in a written statement on Friday, 24 April 2026.

Furthermore, Toto assesses that MIND ID has opportunities to increase added value through product diversification. He emphasises the importance of expansion into the final product industry sector, such as electric vehicle batteries, which are considered to have higher economic value compared to raw products.

Toto also highlights the importance of cross-sector synergies so that downstream products can be optimally absorbed by the market. He gives the example of the development of a coal gasification project into dimethyl ether (DME) by PTBA, aimed at reducing reliance on LPG imports.

“Synergies with other state-owned enterprises or the private sector can also be enhanced so that downstream final products, for example coal gasification (dimethyl ether), can gain a sufficient market share,” he said.

On the other hand, he emphasises the importance of implementing good mining practice principles to maintain business sustainability. The utilisation of the latest technology is also considered crucial to increase cost efficiency and maintain the company’s competitiveness in the future.

For information, MIND ID recorded positive financial performance throughout 2025 with net profit reaching Rp29 trillion or about 13% above target. The company’s revenue was recorded at Rp159 trillion or 4% exceeding the target, while EBITDA reached Rp42 trillion or up 3% from the set target. This achievement strengthens MIND ID’s position as one of the national strategic industrial holdings.