The House of Representatives Commission VI has lent its support for PT Indonesia Asahan Aluminium (Inalum), a member of the State-owned mining holding company MIND ID, to enhance its impact and contribution to the country.

Commission VI member Rivqy Abdul Halim noted that Inalum has a proven business development roadmap, while citing the company’s 2024 performance achievements demonstrate the successful execution of its plans.

“We hope these achievements can be replicated in other companies, ensuring the successful execution of its programs and the company’s continued growth,” Rivqy said as quoted in a statement on Friday, March 14, 2025.

Another Commission VI member, Abdul Hakim Bafagih, supported Inalum’s potential listing on the stock exchange to strengthen its operational expansion.

“We hope Inalum can serve as an example for other holding members − small but healthy and ready for a smooth IPO in 2026. We look forward to a detailed explanation of the company’s long-term plans to ensure that the funds raised from the capital market are used optimally,” Bafagih said.

Inalum President Director, Ilhamsyah Mahendra, reported that the company’s production realization in 2024 was recorded at 274,230 tons of aluminum, marking a 27.6 percent year-on-year (YoY) increase. Meanwhile, sales totaled 276,381 tons, growing 25.6 percent YoY.

As a result, Inalum’s 2024 revenue reached US$715.99 million, up 9 percent YoY, with Earnings before interest, taxes, depreciation, and amortization (EBITDA) surging 213 percent YoY to US$183.9 million. The company’s net profit also saw a 99 percent YoY rise to US$173.29 million. Inalum has consistently maintained its financial indicators within a safe range, supporting sustainable operational performance throughout 2024.

Looking ahead, Ilhamsyah said the company is determined to increase its production capacity to fulfill the government's mandate for domestic market control and aluminum self-sufficiency, given the country’s annual demand of 1.2 million tons.

Inalum is also working to expand its smelter-grade alumina refinery (SGAR) production capacity from the current 1 million tons to 2 million tons. Additionally, the company is planning to increase its aluminum production capacity by 600,000 tons.

“This remains our main focus moving forward. With our current annual revenue of around Rp10 trillion (US$654 million), we aim to reach Rp44.9 trillion or US$2.9 billion − an increase of four times,” Ilhamsyah said.

MIND ID Director of Portfolio and Business Development, Dilo Seno Widagdo, emphasized Inalum’s role in driving the integration of upstream-to-downstream bauxite processing.

He cited that Inalum is committed to strengthening its production capacity, ensuring Indonesia secures a domestic aluminum supply sourced from local minerals. This initiative will not only enhance the company’s performance but also support the government’s efforts to save foreign exchange reserves by reducing raw material imports.