Mining association urges fair review of Agincourt Resources to protect investment climate
Wednesday, January 28 2026 - 12:34 PM WIB
By Cepi Setiadi
The Indonesian Mining Association (API-IMA) has called on the government and other stakeholders to ensure a fair and objective assessment of PT Agincourt Resources amid reports of a potential revocation of the company’s mining business permit.
API-IMA chairman Rachmat Makkasau said Agincourt Resources, operator of the Martabe gold mine in North Sumatra, is widely regarded as complying with sound mining and environmental governance standards, as reflected in its Green PROPER rating.
“We believe the government will undertake a more detailed evaluation regarding the mining permit of Agincourt that has been mentioned for possible revocation,” Rachmat said in a statement on Wednesday. He added that companies which operate in accordance with regulations and prioritize environmental, social and governance (ESG) aspects should be able to continue operating to maintain a conducive investment climate.
Read also: Govt considers transferring Agincourt Resources to MIND ID after permit revocation
Agincourt Resources is a unit of mining, energy and infrastructure company PT United Tractors Tbk (UNTR). The company was recently named as one of 28 firms whose licenses were revoked by the government following deadly flash floods that struck Aceh, North Sumatra and West Sumatra. The government is also considering transferring the operations of Agincourt Resources, to state-owned mining holding MIND ID.
Rachmat said adherence to good mining practice (GMP) and ESG principles is a key requirement for API-IMA membership. Speaking at the Indonesia Weekend Miner 2026 event on January 24, he encouraged member companies to actively communicate positive facts about responsible mining practices.
“There are already many companies that operate properly and have implemented GMP and ESG principles. We encourage API-IMA members to continue promoting these positive practices so that public perception of the mining industry becomes more balanced,” he said.
He also said safeguarding mining investment is a shared responsibility between industry and government, requiring close collaboration. The mineral and coal mining sector contributed Rp138.37 trillion (about USD 8.3 billion) in state revenue in 2025, exceeding the government’s target of Rp127.44 trillion (about USD 7.6 billion), according to API-IMA.
Editing by Alexander Ginting