Pam Mineral Tbk PT

Pam Mineral Tbk PT is a mid-tier nickel producer headquartered in Jakarta, Indonesia, operating primarily in Indonesia. The company's portfolio consists of 2 operating mines. Key assets include Konawe Utara and Morowali. The company's business model centers on the integrated mining of minerals, conducted both directly and through its primary subsidiary. Its operational approach emphasizes managing existing mines to meet domestic market demand, utilizing open-pit methods. Technological advantages include a proprietary digital safety system (SLAMET) and the use of UAV drones for mapping and surveying, which ensures accurate progress monitoring. The enterprise maintains integrated infrastructure, including laboratory facilities for quality control and a dedicated jetty with significant barge capacity, enhancing logistical efficiency. Competitive positioning is strengthened by verified resources and reserves standardized to KCMI 2017, allowing for market-responsive optimization. The organization supports downstream policies by focusing on production efficiency and environmentally friendly technology to enhance domestic product value.

Strategic priorities focus on expanding market share and optimizing production capacity. A key objective is to increase reserve inventory through continuous exploration activities. The business strategy involves implementing digitalization for key documents to accommodate production growth and expand potential land areas. Market positioning efforts center on securing long-term sales contracts, maintaining high standards of quality and consistency, and ensuring stable raw material stocks. The organization aims to diversify its product offerings to meet evolving market demands, including the production of raw materials for battery cathodes (MHP). This approach is designed to align with government downstream initiatives and capture opportunities in the clean energy transition.

The Board of Commissioners is composed of 3 members, including 2 Independent Commissioners, while the Board of Directors consists of 3 members. Executive leadership is headed by the President Director, Ruddy Tjanaka, who has held director and commissioner roles since 2000 and has been an active member of the Indonesian Nickel Miners Association (APNI) since 2018. The governance framework includes regular oversight meetings, with the Board of Commissioners conducting 3 internal and 3 joint meetings in 2024, and the Board of Directors holding 12 internal meetings. Performance of both boards is evaluated through a self-assessment process. Key governance organs include an Audit Committee and a Nomination and Remuneration Committee, which support the Board of Commissioners in their oversight functions. The nomination process for board members adheres to specific criteria, including character, legal capacity, and a clean financial crime record, ensuring a high standard of leadership.

Environmental stewardship is demonstrated through the application of good mining practices, including comprehensive management of topsoil and surface water via settling ponds. The organization actively undertakes post-mining land rehabilitation, having planted 7,247 seedlings in 2024, and implements biodiversity protection measures such as prohibiting illegal logging and hunting. Waste management is guided by the 3R principles, featuring a paperless system, reuse of materials like sample sacks, and composting of organic waste. Emission control initiatives include regular machinery checks, use of low-sulfur fuel, and revegetation projects. Social commitments focus on community empowerment, with a policy to recruit at least 60% local labor and provide skills training, such as the Basic Training Operator Program for 19 students in 2024. Workplace safety is a priority, with policies against forced and child labor, and a commitment to providing a safe working environment through training and provision of protective equipment.

The corporate structure includes one operationally significant subsidiary, PT Indrabakti Mustika (IBM), in which the company holds a 99.77% ownership stake. The controlling shareholder is Christopher Sumasto Tjia. Major corporate shareholders include PT PAM Metalindo, holding a 43.23% stake, and PT Artha Perdana Investama, with a 28.82% interest. The company is pursuing a strategic acquisition through a conditional share purchase agreement to acquire up to 50% of PT Sumber Mineral Abadi (SMA). This agreement, initially signed in 2023, has undergone several amendments, extending the completion deadline to 2025 and increasing the potential advance payment amount. The transaction remains conditional upon the fulfillment of specified prerequisites.