MIND ID Seeks Reinstatement of Four Revoked Antam Gold Exploration Permits
JAKARTA. Mining Industry Indonesia (MIND ID) is seeking the reinstatement of four gold exploration Mining Business Permits (IUP) belonging to its subsidiary PT Aneka Tambang Tbk (ANTM) that were previously revoked.
During his tenure as Minister of the Investment Coordinating Board (BKPM), Bahlil Lahadalia revoked 2,051 IUPs out of 2,078 between 2022 and 2024. Four of those were Antam's gold exploration IUPs located in Oksibil, Pegunungan Bintang, Papua.
"We have already requested their reinstatement, but it is ultimately a government decision. You should ask the relevant parties at the Ministry of Energy and Mineral Resources (ESDM) and BKPM," said MIND ID's Director of Portfolio and Business Development, Dilo Seno Widagdo, when met in Jakarta on Thursday (19/04).
Dilo explained that the exploration process under an IUP typically requires a considerable amount of time, meaning that during the course of development, targets may not yet have been met. "The problem is the same as what happened in East Java — we obtained an exploration IUP and carried out exploration, which is not a quick process. We actually already had data related to the exploration results," he said.
Previously, in 2022, Antam had already filed objections against the revocation of these IUPs.
In greater detail, according to Antam's financial report for the first quarter of 2022, the following four exploration IUPs were revoked by BKPM:
1. Decree No. 540/2876/SET of 2010 covering 49,740 hectares, with BKPM Decree No. 622/I/IUP/PMDN/2021 of 2021, valid until 7 September 2026.
2. Decree No. 540/2883/SET of 2010 covering 49,830 hectares, with BKPM Decree No. 234/1/IUP/PMDN/2020 of 2020, valid until 7 September 2027.
3. Decree No. 540/2884/SET of 2010 covering 49,920 hectares, with BKPM Decree No. 233/1/IUP/PMDN/2020 of 2020, valid until 7 September 2027.
4. Decree No. 540/2892/SET of 2010 covering 49,830 hectares, with BKPM Decree No. 357/1/IUP/PMDN/2021 of 2021, valid until 29 June 2026.
During his tenure as Minister of the Investment Coordinating Board (BKPM), Bahlil Lahadalia revoked 2,051 IUPs out of 2,078 between 2022 and 2024. Four of those were Antam's gold exploration IUPs located in Oksibil, Pegunungan Bintang, Papua.
"We have already requested their reinstatement, but it is ultimately a government decision. You should ask the relevant parties at the Ministry of Energy and Mineral Resources (ESDM) and BKPM," said MIND ID's Director of Portfolio and Business Development, Dilo Seno Widagdo, when met in Jakarta on Thursday (19/04).
Dilo explained that the exploration process under an IUP typically requires a considerable amount of time, meaning that during the course of development, targets may not yet have been met. "The problem is the same as what happened in East Java — we obtained an exploration IUP and carried out exploration, which is not a quick process. We actually already had data related to the exploration results," he said.
Previously, in 2022, Antam had already filed objections against the revocation of these IUPs.
In greater detail, according to Antam's financial report for the first quarter of 2022, the following four exploration IUPs were revoked by BKPM:
1. Decree No. 540/2876/SET of 2010 covering 49,740 hectares, with BKPM Decree No. 622/I/IUP/PMDN/2021 of 2021, valid until 7 September 2026.
2. Decree No. 540/2883/SET of 2010 covering 49,830 hectares, with BKPM Decree No. 234/1/IUP/PMDN/2020 of 2020, valid until 7 September 2027.
3. Decree No. 540/2884/SET of 2010 covering 49,920 hectares, with BKPM Decree No. 233/1/IUP/PMDN/2020 of 2020, valid until 7 September 2027.
4. Decree No. 540/2892/SET of 2010 covering 49,830 hectares, with BKPM Decree No. 357/1/IUP/PMDN/2021 of 2021, valid until 29 June 2026.