Bayan said a decision by the ministry had resulted in reduction of mining area sizes and permit lengths.

A spokesperson at the investment ministry did not immediately respond on Monday to a request for comment.

Indonesian President Joko Widodo in January announced that the government had revoked thousands of mining, plantation, and forest-use permits to improve governance and transparency in its rich natural resources sector.

"Currently, there is no impact on the company's financial condition, however, the five subsidiaries of the company have not been able to carry out their operational activities," Bayan said in the statement.

According to a stock exchange filing in March, Bayan said the operation area of two of its units shrank by a combined 342 hectares (845.1 acres) and exploration area of the three other units shrank by 1,864 hectare due to the changes to their permits.

(Reporting by Fransiska Nangoy, additional reporting by Gayatri Suroyo; Editing by Martin Petty and Kanupriya Kapoor)