PT Arsari Tambang plans to acquire a mining asset in Canada as part of its international expansion strategy, with the deal expected to be finalized by mid-2026, according to President Director Aryo Djojohadikusumo.

“This will be completed next year, by June 2026 at the latest. The acquisition value is around Rp7 trillion (US$422 million),” Aryo said after the Mineral and Coal Convex 2025 event on Wednesday, October 16, 2025.

Aryo declined to specify the type of mine or commodity involved, citing ongoing negotiations. “There is one, but I can’t reveal it yet because we are still in talks,” he said, while noting that details will be disclosed once a financial closing is reached.

New CEPA agreements

Aryo attributed the opportunity to President Prabowo Subianto’s international diplomacy, particularly his efforts in finalizing the Comprehensive Economic Partnership Agreements (CEPA) with Canada (ICA-CEPA) and the European Union (IEU-CEPA).

According to him, these agreements have opened doors for Indonesian companies to expand globally and evolve into multinational enterprises.

“This is a chance for Indonesian companies to invest abroad while continuing to contribute domestically. There are opportunities in Canada, the European Union, and even Africa. This is thanks to President Prabowo’s active role on the international stage,” Aryo said.

Trade Ministry eyes mid-2026 ratification

Trade Minister Budi Santoso previously stated that the ratification process for both IEU-CEPA and ICA-CEPA is expected to be completed by mid-2026, with bilateral trade projected to double by next year.

Budi announced the completion of substantive negotiations for the IEU-CEPA on September 23, while the final ICA-CEPA document was signed in Canada a day later, on September 24, 2025.

“We expect the ratification of ICA-CEPA to be finalized by mid-next year. If the final IEU-CEPA document is signed by the end of this year, both agreements should be ratified by mid-2026,” Budi said on September 29, 2025.

Trade between Indonesia and Canada reached US$30 billion last year, with Indonesia’s exports valued at US$17.32 billion. Once implemented, the IEU-CEPA is projected to boost exports to Europe by 100 percent, potentially reaching US$34.64 billion.

Budi noted that the growth would be driven by zero import tariffs and the removal of non-tariff barriers under the new trade frameworks.

“With IEU-CEPA in place, export value will surely rise, as many commodities will face 0 percent tariffs and fewer regulatory obstacles,” he said.

The upcoming trade pacts, combined with private-sector initiatives like Arsari Tambang’s Canadian acquisition, signal Indonesia’s increasing global economic presence and ambition to position its companies as key players in the international market.