Downstreaming Policy to Become Future Foundation, Benefiting Antam's Business

Jakarta - Danantara Indonesia CEO Rosan Roeslani has since early 2026 asserted that mineral downstreaming is the foundation of Indonesia’s industrial future and energy transition. Through Danantara, Rosan is therefore promoting long-term investment with strong governance and sustainability principles. “This is done so that the strategic value of Indonesia’s resources grows and remains within the country,” Rosan stated on Tuesday (7/7/2026). As a state-owned enterprise, Rosan also supports the role of PT Aneka Tambang (Persero) Tbk, or Antam, in nickel downstreaming, especially as it becomes a crucial pillar in the energy transition by providing raw materials for green technology, such as nickel and copper for batteries, particularly in supporting the national electric vehicle (EV) ecosystem. In the long term, the growth of the EV battery industry can enhance the added value of the company’s nickel business. Antam’s President Director, Untung Budiharto, explained that the company is committed to accepting special assignments from the government to accelerate the nickel downstreaming programme and the development of the national EV battery ecosystem. “Through various integrated strategic projects, ANTM not only increases added value but also supports the strengthening of national industrial independence and Indonesia’s position in the global supply chain,” he said. Antam has partnered with PT Industri Baterai Indonesia (IBI) and is cooperating with HYD Investment Limited, a consortium consisting of Zhejiang Huayou Cobalt Co., Ltd., EVE Energy Co., Ltd., and PT Daaz Bara Lestari Tbk to develop an integrated EV battery ecosystem in Indonesia. The construction of the factory located in Karawang, West Java, has reached 90% progress and is targeted to begin commercial operations by the end of July 2026. The production capacity in the first phase will be immediately increased through an expansion plan to reach a minimum of 15 GWh, a volume estimated to be equivalent to the needs of approximately 250,000 electric vehicles. The total initial investment for the entire upstream-to-downstream integrated battery project amounts to US5.9billion, orequivalenttoRp96.04trillion(assuminganexchangerateofRp16, 278perUS). The project consists of a total of six joint ventures (JVs) from upstream to downstream. JVs one to three constitute the upstream side of the battery ecosystem, while JVs four to six form the downstream side. Antam recorded a positive performance with a net profit for the year of Rp7.92 trillion in the 2025 financial year, a 106% surge compared to the 2024 net profit of Rp3.85 trillion. This profit growth was in line with the company’s revenue increase, which rose 22% to Rp84.64 trillion in 2025 from Rp69.19 trillion the previous year, a performance mainly supported by its gold and nickel businesses.