TEMPO.CO, Jakarta - Indonesia's sovereign wealth fund Danantara is establishing a new state-owned mining company, PT Perusahaan Mineral National (Perminas). Danantara CEO Rosan Perkasa Roeslani said the company specializes in rare earth metal processing.
"Perminas is specifically geared towards managing rare earth metals," said Rosan when met at Danantara Building on Friday, January 30, 2026.
According to Rosan, Perminas differs from MIND ID, the holding company for state-owned mining companies. MIND ID accommodates gold, nickel, tin, aluminum, and other mineral mining companies, such as PT Antam, PT Bukit Asam, PT Freeport Indonesia, PT Timah, and PT Indonesia Asahan Aluminium.
"Each company specializes in different [mineral mining]," he said.
Prasetyo Hadi, Minister of State Secretariat, confirmed that Perminas aims to manage critical minerals as mandated by Indonesian President Prabowo.
"It was mandated by Bapak President [to establish Perminas], which is expected to manage our minerals, especially the strategic ones. Therefore, Danantara was asked to establish a new entity," said Prasetyo, as quoted from Antara.
The government, he went on, has identified which mines will be operated under Perminas, aside from the Martabe gold mine in North Sumatra, which has been managed by PT Agincourt Resources. But he stopped short of providing further details.
Danantara previously planned to take over control of the Martabe gold mine in North Sumatra through Perminas, but Rosan said the agency still awaits the transfer process.
Meanwhile, Danantara's Chief Operating Officer (COO), Dony Oskaria, mentioned on Wednesday that Danantara has not communicated with Agincourt, as it's within the agency's authorized task.
Read: Martabe Gold Mine Operator Focuses on Sustainable Practices
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