Badan Pengelola Investasi Daya Anagata Nusantara (BPI Danantara) has responded to reports suggesting that management of the Martabe gold mine in North Sumatra could be transferred to a state-owned enterprise (SOE), following the government’s revocation of PT Agincourt Resources’ operating licence, CNBC Indonesia reports.

Danantara’s Chief Operating Officer, Dony Oskaria, clarified that the sovereign investment body has not taken over PT Agincourt Resources. He stressed that any further action concerning the company remains entirely under the authority of the government.

“We did not acquire PT Agincourt Resources,” Dony said at the CNBC Indonesia Economic Outlook 2026 event held at Hotel Kempinski in Jakarta on February 10.

He explained that Agincourt’s legal standing is still under review, meaning the possibility of reinstating its business permit remains open. According to Dony, the company’s owners retain the right to file an appeal or pursue other legal remedies.

“In this process, the owner may appeal and so on. We must remain open,” he noted.

The government is currently assessing the licence revocation, including examining the extent of any alleged violations. Dony described the evaluation as proceeding in a standard manner, with its outcome set to determine the next steps.

Amid speculation over a potential new operator, at least three SOEs have been mentioned as candidates to assume control of the Martabe gold mine: PT Aneka Tambang Tbk (ANTAM), state mining holding company MIND ID, and a newly established mining entity formed by Danantara, PT Perusahaan Mineral Nasional (Perminas).

Nevertheless, Dony underlined that any corporate action must adhere to principles of prudence, transparency and openness.

Danantara recently set up Perminas as a new state-owned mining company intended to manage mining assets whose licences have been withdrawn. “It will go to Perminas. We have just established Perusahaan Mineral Nasional (Perminas),” he said.

Separately, State Secretary Prasetyo Hadi previously indicated that mining concessions revoked by the Forest Area Enforcement Task Force (Satgas PKH) could be assigned to ANTAM or MIND ID. All affected land and business activities will fall under Danantara’s coordination, after which the agency will appoint an SOE to resume management of the assets.

On January 20, the government announced the cancellation of permits for 28 companies alleged to have caused environmental damage in Sumatra. These comprised 22 holders of Forest Utilisation Business Permits (PBPH) covering more than 1mn hectares, as well as six companies operating in mining, plantation and timber forest product utilisation.

The final decision regarding the future management of the Martabe gold mine will ultimately depend on the government’s review and the outcome of the ongoing legal process.

© 2026 bne IntelliNews, source Magazine