Executive Summary

Key insights and market outlook

Indonesian mining companies are expected to actively pursue acquisitions in 2026, driven by expansion plans and global market dynamics. PT Aneka Tambang Tbk (ANTM) is exploring gold mine acquisitions through government assignments or minority stake purchases ¹

. The mining sector's performance in 2026 is predicted to be influenced by global commodity fluctuations, particularly for export-allowed commodities ². The coal industry faces challenges from global pressures and rising production costs, despite steady demand from Asian countries ³.

Full Analysis

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Deep Dive Analysis

Indonesian Mining Sector to See Increased M&A Activity in 2026

Expansion Plans Amid Global Uncertainty

The Indonesian mining sector is bracing for a potentially active year of mergers and acquisitions in 2026 as major players look to expand their operations through strategic acquisitions ¹

. PT Aneka Tambang Tbk (ANTM), a state-owned mining enterprise, is at the forefront of this trend, exploring opportunities to acquire new gold mining assets through various schemes including government assignments and minority stake purchases in joint ventures ¹.

Global Market Dynamics and Challenges

The performance of Indonesia's mining sector in 2026 is expected to be heavily influenced by global commodity price movements, particularly for minerals that are still permitted for export ²

. The sector faces both opportunities and challenges as global demand remains relatively stable, particularly from Asian markets that continue to rely on these commodities for energy security ³.

Coal Industry Faces Continued Pressure

The coal industry, a significant contributor to Indonesia's mining sector, is anticipated to face continued challenges stemming from global market pressures and rising production costs in 2026 ³

. Despite these challenges, industry associations predict that demand for Indonesian coal will remain relatively stable, particularly from Asian countries that depend on coal for their energy needs. The Executive Director of the Indonesian Coal Mining Association (APBI), Gita Mahyarani, noted that global coal demand is expected to show limited growth, around 0.5%, indicating a stagnant market environment ³.

References