New SOE, Perminas, formed to Manage Strategic Rare Earth Minerals

KN. The Indonesian government has established a new state-owned enterprise, Perminas (Perusahaan Mineral Nasional), to manage the country’s strategic rare earth mineral resources, according to State Secretary Minister Prasetyo Hadi, who confirmed that the move followed an instruction from President Prabowo.

The government has designated several mining areas for Perminas, including the Martabe gold mine in North Sumatra, previously operated by PT Agincourt Resources, whose license was recently revoked over suspected regulatory violations. Danantara Indonesia CEO Rosan Roeslani explained that Perminas will focus specifically on rare earth minerals, setting it apart from the existing state-owned mining holding company, MIND ID.