Jakarta. Energy and Mineral Resources Minister Bahlil Lahadalia has opened the possibility of restoring the operational permit of the Martabe gold mine in North Sumatra after President Prabowo Subianto ordered a comprehensive legal review of Agincourt Resources, the site’s operator.

“The president instructed in the meeting that the case should be reviewed. If there are no violations, we must restore the investors’ rights. And if violations are found, then proportional sanctions must be imposed,” Bahlil said at the Presidential Palace complex in Jakarta on Wednesday.

Indonesia’s sovereign wealth fund Danantara has selected state-run Perminas to take over Agincourt Resources’ Martabe gold mine following large-scale land seizures linked to a disaster in Sumatra in November 2025.

The government has revoked the permits of 28 companies accused of causing catastrophic landslides and floods in the region. Among them is Agincourt Resources, which has lost its license to operate the Martabe gold mine in South Tapanuli, North Sumatra.

Danantara is now moving to place the seized assets under its management, as the fund oversees all state-owned enterprises. Martabe — one of the world’s largest gold mines — will be handed over to Perminas, Danantara Chief Operating Officer Dony Oskaria said on Jan. 28.

He said the move reflects the government’s objectivity in treating businesses and guaranteed the process would proceed without intervention or lobbying from any party.

“We must be fair and provide certainty. If a company is not at fault, we should not look for faults. If it is not guilty, then all of its rights can be restored,” he added.

The former investment minister highlighted the principle of balance between state authority and the business sector.

“There has been no ‘lobbying’ from any party. I am simply being objective. I am a former investment minister and also a former entrepreneur. Businesses must not control the state, but the state must not act unjustly toward businesses. The state needs businesses, and businesses need the state. This is a mutual relationship,” Bahlil said.

The Energy and Mineral Resources Ministry is currently conducting a technical assessment while coordinating closely with the Environment Ministry to ensure full compliance across all aspects.

“We are carrying out an evaluation and restructuring, cross-checking the mining aspects. I also discussed this with Environment Minister Hanif, who is conducting his own review. God willing, it will be completed soon, and I feel everything will be fine,” he said.

The potential restoration is expected to provide legal certainty and support sustained economic growth in Sumatra through responsible mining activities.

“All of this is aimed at ensuring investment certainty and legal certainty, while also safeguarding economic growth in the Sumatra region,” Bahlil said.

Agincourt Resources belongs to United Tractors, the construction machinery giant owned by the conglomerate Astra Group. The company’s official website shows that Martabe’s annual processing capacity tops 6 million tons of ore, producing over 200,000 ounces of gold and 1–2 million ounces of silver each year.