https://newsletter.mw.creamermedia.com
Business|Energy|Gold|Resources|Environmental
Business|Energy|Gold|Resources|Environmental
business|energy|gold|resources|environmental

Indonesia reviews decision to take over Martabe gold mine

12th February 2026

By: Reuters

  

Font size: - +

Indonesia is reviewing its decision to take over the Martabe gold mine from a company linked to Jardine Matheson, its energy minister said late on Wednesday, after previously announcing it would transfer ownership of the mine to a new state firm.

Indonesia revoked the permits of 28 companies operating in northern Sumatra, including that of the mine operator Agincourt Resources, following accusations of environmental breaches that exacerbated the impact of the floods and landslidesthat killed at least 1 200 people late last year.

Authorities have said the assets will be transferred to sovereign wealth fund Danantara Indonesia. Danantara has set up a new company, PT Perusahaan Mineral Nasional or Perminas, to manage the mine.

Agincourt is part of conglomerate Astra International. Astra's majority shareholder is Jardine Matheson.

The business community has been closely following the fate of Martabe, as the takeover happened without any court order. Analysts said the way authorities handle the mine's future could affect Indonesia's investment climate.

"The president has directed ... to check again and if there were no violations, we must restore the rights of the investor," energy minister Bahlil Lahadalia said in a recording posted on the presidential office's Youtube account.

"If there were violations, we mete out proportional sanctions," he added.

"We are doing all of this ... to ensure that investment and legal certainty can occur and to maintain Sumatra's economic growth," said Bahlil, adding that a final decision would be made and announced soon.

Agincourt did not immediately respond to a request for comment.

It was not immediately clear if the government would also review its takeover of assets previously owned by other companies.

Edited by Reuters

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 
WearCheck
WearCheck

Leading condition monitoring specialists, WearCheck, help boost machinery lifespan and reduce catastrophic component failure through the scientific...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

BME Mining Chemicals GM Lefa Masiuana talks to Engineering News & Mining Weekly at Investing in African Mining Indaba in Cape Town
BME Metallurgy positioned to better serve African mining industry
11th February 2026

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:2.146 2.237s - 146pq - 2rq
Subscribe Now