MIND ID Group Companies Deliver Strong 2025 Performance

Mining Sector Shows Resilience

The mining companies under Indonesia's mining holding company, MIND ID, have demonstrated impressive performance in 2025 despite global market fluctuations. PT Timah Tbk. (TINS) emerged as the top performer with a remarkable 190.65% year-to-date (YtD) increase, closing at Rp3,110 per share as of December 30, 2025. The strong performance was supported by the company's strategic initiatives and favorable market conditions for tin.

Key Contributors to Performance

1. PT Aneka Tambang (ANTM): Recorded a 106.56% YtD surge to Rp3,150 per share, driven by positive prospects in the precious metals sector and successful operational expansion.
2. PT Vale Indonesia (INCO): Demonstrated resilience with a 42.96% YtD increase to Rp5,175 per share, showcasing the company's ability to navigate global market volatility in the nickel sector.
3. PT Bukit Asam (PTBA): Closed the year at Rp2,310 per share, maintaining stability despite market challenges.

Analyst Insights

Nafan Aji Gusta Utama, Senior Market Analyst at Mirae Asset Sekuritas Indonesia, highlighted that the positive trend in state-owned enterprise (SOE) stocks, particularly in the mining sector, was driven by technical fundamentals and corporate actions. He noted that companies like TINS and ANTM have solid technical foundations to continue their upward trend. Factors such as leadership changes and corporate restructuring have contributed to market confidence by signaling tighter capital expenditure discipline and operational efficiency.

Liza Camelia Suryanata, Head of Research at Kiwoom Sekuritas, added that several positive sentiments could fuel the mining index further. These include the potential for lower funding costs and the current valuation of SOE emitters, which are categorized as value stocks. For 2026, strategic commodities and energy sectors are expected to remain dominant in the capital markets, with ANTM being a strong candidate in the mining sector.

Outlook for 2026

The positive momentum is expected to continue into 2026, driven by: - Strategic integration within MIND ID group - Continued downstream development - Favorable commodity prices - Operational expansions

As Indonesia's mining sector continues to evolve, companies under MIND ID are well-positioned to capitalize on emerging opportunities while navigating challenges.