Danantara reveals reasons for restoring Persero status to Antam and PTBA

Jakarta (ANTARA) - The Daya Anagata Nusantara Investment Management Agency (Danantara Indonesia) has disclosed the reasons behind restoring Persero (State-Owned Limited Liability Company) status to PT Aneka Tambang (Persero) Tbk (ANTM) and PT Bukit Asam (Persero) Tbk (PTBA).

Danantara Chief Operating Officer Dony Oskaria explained that the move was carried out in accordance with the provisions of Law No. 16/2025, which requires an adjustment to the special Series A Dwiwarna share rights in state-owned enterprises held by the SOE Regulatory Body (BP BUMN).

“It is indeed stipulated in the law — look at the new SOE Law. There is a 1 per cent state ownership for the major ones. That is why their status becomes that of a state-owned enterprise,” said Dony after attending the Post-Disaster Recovery Coordination Meeting for Sumatra at the House of Representatives parliamentary complex in Jakarta on Wednesday.

Despite the change of status to Persero, Dony confirmed that Antam and PTBA would remain members of the MIND ID state mining holding company.

“They remain under MIND ID,” said Dony.

He also emphasised that the status change for the two mining companies bore no connection whatsoever to the establishment of PT Perusahaan Mineral Nasional (Persero), or Perminas, by Danantara.

“There is no connection at all with Perminas. It is the law. Because the law stipulates it that way. There is no connection with Perminas whatsoever. Many companies are all becoming Persero entities,” said Dony.

Previously, Antam and PTBA had held Persero status but relinquished it upon joining the MIND ID state mining holding. The reason was that SOEs which become subsidiaries of a holding company have their majority shares held not directly by the state but through the holding parent.

According to information disclosure on the Indonesia Stock Exchange (BEI) on Wednesday (18 February), the change of status to Persero by Antam and PTBA was carried out pursuant to Law No. 16/2025.

Accordingly, both mining companies amended their Articles of Association, with the changes officially taking effect from 13 January 2026.

Meanwhile, MIND ID remains the controlling shareholder of both Antam and PTBA, with ownership stakes of 65 per cent and 65.93 per cent respectively.