This statement was made by MIND ID President Director Maroef Sjamsoeddin after attending a limited meeting with the head of state at the Presidential Palace in Jakarta on Tuesday (July 29).
“The president simply requested that we raise the productivity of MIND ID and all of its subsidiaries. In addition, we have been urged to ensure proper governance,” he told the press after the meeting.
The president director acknowledged that improving governance is essential, especially in mineral extraction, which remains the core of Indonesia’s mining sector.
“It is crucial that we ensure good governance, including in the mineral sector, as these are valuable state assets. This is of the essence,” Sjamsoeddin affirmed.
President Prabowo convened the limited meeting with several top MIND ID officials, including its president commissioner, Fuad Bawazier, alongside the president director.
In its audited financial report for 2024, the state-owned company booked Rp145.2 trillion (US$8.8 billion) in revenue, up 34.56 percent from the previous year, with total income increasing by 46 percent to Rp40.2 trillion (US$2.4 billion).
Driven by the expansive activities of its sub-holdings, MIND ID saw its total assets grow from Rp259.2 trillion to Rp292.1 trillion (US$17.8 billion), alongside an increase in cost of revenue from Rp90 trillion to Rp124.6 trillion (US$7.6 billion) last year.
In mid-June this year, President Director Sjamsoeddin reiterated the company's commitment to good mining practices.
“We are striving to ensure that our operations abide by the principles of good governance in mining so that the added value from downstreaming efforts benefits both the people and the environment,” he remarked.
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Translator: Fathur R, Tegar Nurfitra
Editor: Azis Kurmala
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