*This article is the collaboration between Indonesia Business Post and MIND ID

Major mining demonstrated strong financial performance between 2021 and 2024, with revenue growing to Rp145 trillion (US$8.8 billion) which marked a 15.6 percent Compound Annual Growth Rate (CAGR), a 36-percent increase in net profit that reached Rp36 trillion (US$2.2 billion), and total assets grew to Rp290 trillion (US$17.69 billion) with a 12.3 percent CAGR.

The mining companies − PT Aneka Tambang, PT Bukit Asam, PT Freeport Indonesia, PT Indonesia Asahan Aluminium, PT Timah, and PT Vale Indonesia − have been officially put under the State-owned mining holding company PT Mineral Industri Indonesia (MIND ID) in the past two years. Previously, they were put under supervision of Inalum.

This robust financial performance has also driven employment growth, with MIND ID directly employing 17,000 people and supporting an additional 50,099 indirect jobs in 2024. Furthermore, MIND ID has empowered over 10,000 micro and small enterprises (UMKs), with 702 businesses successfully scaling up through increased revenue and market expansion.

In terms of environmental responsibility, MIND ID remains committed to sustainable mining practices. Between 2022 and 2024, the group successfully reclaimed 7,274 hectares of land, reinforcing its dedication to environmental preservation.

MIND ID President Director Maroef Sjamsoeddin emphasized that the company’s role extends beyond business operations, focusing on economic value creation, social benefits, and environmental sustainability.

“Our strategic initiatives aim to optimize the added value of natural resources to drive economic growth, job creation, and equitable regional development. This is our commitment to the nation,” Maroef said while addressing MIND ID’s 2nd Anniversary celebration on Sunday, March 23, 2025.

Since its establishment, MIND ID has executed key strategic projects, including the divestment of Vale Indonesia shares; the completion of Phase I of the Smelter Grade Alumina Refinery (SGAR) in Mempawah, West Kalimantan; the construction of the Freeport Indonesia Smelter in Gresik, East Java; and the development of coal downstream projects into synthetic graphite and anode sheets for electric vehicle batteries.

Looking ahead, MIND ID plans to strengthen Indonesia’s mining industry ecosystem through various strategic projects, including the expansion of SGAR in Mempawah; the construction of a new aluminum smelter by INALUM; nickel development in East Halmahera, North Maluku; and the establishment of coal infrastructure in Tanjung Enim, Muara Enim Regency, South Sumatra.

"Our 2nd anniversary is a moment to reflect on our journey. Through innovation, collaboration, and determination, we remain steadfast in our commitment to Indonesia. We will continue to contribute toward achieving the vision of Indonesia Emas 2045," Maroef concluded.