MIND ID Aggressively Pursues Mineral Exploration to Secure Long-Term Business

Jakarta, Indonesia – State-owned mining holding company MIND ID is aggressively pursuing mineral and coal exploration to ensure the long-term sustainability of its business, according to a recent announcement. The company’s commitment to exploration is aimed at securing the resources needed for its downstream programs and to support the Indonesian economy.

MIND ID’s exploration efforts involve various activities, including geological surveys, mapping, geophysical investigations, and drilling, followed by laboratory analysis to assess the full potential of resources and reserves. The company is actively working to maintain and grow its reserves, which are essential for ongoing operations. MIND ID is using a reserve replacement ratio as an indicator of the company’s commitment to continuous exploration.

Heri Yusuf, Corporate Secretary of MIND ID, in the statement said that the group’s strategic downstream projects are utilizing current mineral and coal resources. He added that “Exploration is the most upstream process in the mining industry, which is very crucial. We are striving to keep these reserves growing and ready to be monetized to ensure the sustainability of Indonesia’s mineral downstream program,”.

Several subsidiaries are involved in MIND ID’s exploration program. PT Aneka Tambang Tbk is exploring critical and strategic minerals in areas like Tayan, West Kalimantan (bauxite), and Pongkor, West Java (gold). PT Bukit Asam Tbk is focusing on coal exploration in Tanjung Enim, South Sumatra, which has the largest coal reserves in Indonesia.

Additionally, PT Freeport Indonesia’s copper and gold production is projected to continue beyond 2041 with potential extensions of operating permits. Further, PT Vale Indonesia Tbk is intensifying its exploration in the Tanamalia Block in Sorowako, South Sulawesi. PT Timah Tbk is exploring tin deposits both on land and at sea, particularly around Bangka and Kundur Islands.

MIND ID has confirmed its commitment to continue these aggressive exploration efforts into 2025, with the goal of creating long-term value for the Indonesian economy.