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PT Agincourt Resources

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uuid000bsto

Namestring
PT Agincourt Resources
Legal namestring
PT Agincourt Resources
Websiteurl
agincourtresources.com
Company typeenum
Private
Founded yearint
2012
Descriptiontext

PT Agincourt Resources (PTAR) is a privately held Indonesian mining company that operates the Martabe Gold Mine in North Sumatra, its single core asset, extracting and processing gold (and by-product silver) from an open-pit operation that has been in production since 2012. The company was founded in 1997 and is controlled through PT Astra International and the Jardine Matheson Holdings conglomerate structure, with related-party support from mining services firms PAMA and United Tractors. PTAR employs between 1,001 and 5,000 people and positions itself around sustainable mining practices, with stated programs covering environmental management, biodiversity conservation (notably protection of the Tapanuli orangutan habitat in the Batang Toru Forest), community development, tailings management, and a stated net-zero climate commitment.

The company's revenue model is built on commodity sales of refined gold and silver bullion, with no disclosed pricing structure, customer offtake agreements, or revenue figures available in public sources. It is a single-mine operator with concentrated asset exposure, meaning operating performance is highly sensitive to ore grade, gold price, and concession continuity. Business model differentiation is limited to operational reputation in safety and sustainability, not to proprietary technology or pricing innovation.

PTAR's near-term operating environment is dominated by regulatory risk. Following devastating floods and landslides in North Sumatra in late 2025, the Indonesian government revoked mining permits for 28 companies including PTAR, citing alleged environmental violations. The government proposed transferring Martabe operations to state-owned Perminas under the Danantara sovereign wealth fund, a decision that remained under review as of February 2026. Separately, the environment ministry has filed Rp4.8 trillion (approximately $285 million) in civil lawsuits against six companies over watershed destruction, with potential criminal charges, and operations of related companies were suspended pending environmental audits. Against this backdrop, PTAR is investing heavily in ESG and conservation disclosures, including a 5,700-hectare biodiversity commitment announced at the IUCN World Conservation Congress 2025, as a defensive strategy to protect its social license.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
1,001–5,000
akta.pro rankint
HeadquartersPondokindah, Indonesia
HQ citystring
Pondokindah
HQ countrystring
Indonesia
HQ regionstring
Asia
Markets served

Serves global market

Keyword5 values
gold mining operations, precious metals extraction, mineral processing services, sustainable mining practices, open-pit gold production
Industry2 codes
1IMAKAEAA
CodeIMAKAEAAPrimaryYes
2IMAKAEAB
CodeIMAKAEABPrimaryNo
NAICS code1 code
  • 21222
SIC code1 code
  • 1040
Product category
Gold and Silver Mining
Cost components5 values
Operations, Personnel, Infrastructure, Supply Chain, Others
GTM typeB2B
B2B
Offering typeServices
Services
Brand1 of 2 records shown
1Martabe Gold Mine
Description

Gold mining operation located in North Sumatra, Indonesia, operated by PT Agincourt Resources

agincourtresources.com
+1 more record
Core offering1 text field

PT Agincourt Resources explores, mines, and processes gold and silver ore at the Martabe Gold Mine in North Sumatra, Indonesia, producing gold and silver ingots for sale. Since 2012, the open-pit operation has focused on safe, sustainable production alongside biodiversity conservation, community development, and environmental management programs in the Batang Toru ecosystem.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

PT Agincourt Resources operates a single primary product: the Martabe Gold Mine, located in North Sumatra, Indonesia. The company functions as a mining operator focused on gold extraction with integrated sustainability programs. The operation includes environmental management, biodiversity conservation (notably protecting the Tapanuli orangutan habitat in the Batang Toru Forest), community development programs, and responsible mining practices. The company emphasizes sustainable development, implementing initiatives such as zero waste management, circular economy principles, climate action, and social programs including free cataract surgery and scholarships.

Product and service1 record
1Martabe Gold Mine
Recent move8 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Peers10 records
1PT Freeport Indonesia
TypeDirect peer
Description

Operates the Grasberg mine in Papua, Indonesia — one of the world's largest gold and copper operations. Directly comparable as a major foreign-affiliated, single-jurisdiction precious/base metal miner exposed to Indonesian resource-nationalism and environmental scrutiny.

2PT Aneka Tambang (Antam)
TypeDirect peer
Description

Indonesian state-owned integrated mining company producing gold, nickel, bauxite, and other minerals. Comparable as a domestic Indonesian precious-metals producer serving the same regulatory environment and customer base.

3PT Bukit Asam
TypeRegional player
Description

Indonesian state-owned mining company focused primarily on coal, with growing interests in other minerals. Comparable as a domestic Indonesian miner operating under similar state regulatory oversight and ESG scrutiny.

4Newmont Corporation
TypeBroad incumbent
Description

World's largest gold mining company with a global portfolio of producing mines. Comparable as a senior gold producer benchmark for production scale, AISC margins, and reserve life, though Newmont's diversification across multiple jurisdictions is materially greater than PTAR's.

5Barrick Gold Corporation
TypeBroad incumbent
Description

Major senior gold producer with operations across multiple continents. Comparable for gold mining operating benchmarks and as a peer for global gold equities, while differing sharply from PTAR's single-asset/single-country profile.

6AngloGold Ashanti
TypeBroad incumbent
Description

Global senior gold mining company with operations across Africa, the Americas, and Australia. Comparable for gold production economics and ESG/biodiversity practices relevant to PTAR's Tapanuli orangutan commitments.

7Gold Fields Limited
TypeBroad incumbent
Description

Major global gold producer with diversified operations in Australia, South Africa, Ghana, and the Americas. Comparable as a senior gold miner benchmark for capital intensity, AISC, and ESG reporting standards.

8Kinross Gold Corporation
TypeBroad incumbent
Description

Mid-tier senior gold producer with a portfolio of mines in the Americas and West Africa. Comparable for mid-tier single-commodity gold operating model, though with greater geographic diversification than PTAR.

9Agnico Eagle Mines
TypeBroad incumbent
Description

Senior gold producer with a portfolio of mines in Canada, Mexico, Finland, and Australia. Comparable for best-in-class ESG and community engagement practices relevant to PTAR's sustainability positioning.

10Pan American Silver
TypeDirect peer
Description

Major silver and gold producer operating mines across the Americas. Comparable for joint gold/silver production profile, given that PTAR also produces silver alongside gold at Martabe.

Market position
Strengths5 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights5 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles10 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

PT Agincourt Resources

Gold and Silver Miningagincourtresources.com

What PT Agincourt Resources does

PT Agincourt Resources (PTAR) is a privately held Indonesian mining company that operates the Martabe Gold Mine in North Sumatra, its single core asset, extracting and processing gold (and by-product silver) from an open-pit operation that has been in production since 2012. The company was founded in 1997 and is controlled through PT Astra International and the Jardine Matheson Holdings conglomerate structure, with related-party support from mining services firms PAMA and United Tractors. PTAR employs between 1,001 and 5,000 people and positions itself around sustainable mining practices, with stated programs covering environmental management, biodiversity conservation (notably protection of the Tapanuli orangutan habitat in the Batang Toru Forest), community development, tailings management, and a stated net-zero climate commitment.

The company's revenue model is built on commodity sales of refined gold and silver bullion, with no disclosed pricing structure, customer offtake agreements, or revenue figures available in public sources. It is a single-mine operator with concentrated asset exposure, meaning operating performance is highly sensitive to ore grade, gold price, and concession continuity. Business model differentiation is limited to operational reputation in safety and sustainability, not to proprietary technology or pricing innovation.

PTAR's near-term operating environment is dominated by regulatory risk. Following devastating floods and landslides in North Sumatra in late 2025, the Indonesian government revoked mining permits for 28 companies including PTAR, citing alleged environmental violations. The government proposed transferring Martabe operations to state-owned Perminas under the Danantara sovereign wealth fund, a decision that remained under review as of February 2026. Separately, the environment ministry has filed Rp4.8 trillion (approximately $285 million) in civil lawsuits against six companies over watershed destruction, with potential criminal charges, and operations of related companies were suspended pending environmental audits. Against this backdrop, PTAR is investing heavily in ESG and conservation disclosures, including a 5,700-hectare biodiversity commitment announced at the IUCN World Conservation Congress 2025, as a defensive strategy to protect its social license.

PT Agincourt Resources firmographics

Firmographics
Name
PT Agincourt Resources
Legal name
PT Agincourt Resources
Website
https://agincourtresources.com
Company type
Private
Founded year
2012
Operating status
Operating
Headcount range
1,001–5,000 employees
Ownership category
akta.pro rank

Where PT Agincourt Resources is headquartered

Location

Headquarters

HQ city
Pondokindah
HQ country
Indonesia
HQ region
Asia

Markets served

PT Agincourt Resources business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Operations, Personnel, Infrastructure, Supply Chain, Others

PT Agincourt Resources product offering

Product offering

Core offering

PT Agincourt Resources explores, mines, and processes gold and silver ore at the Martabe Gold Mine in North Sumatra, Indonesia, producing gold and silver ingots for sale. Since 2012, the open-pit operation has focused on safe, sustainable production alongside biodiversity conservation, community development, and environmental management programs in the Batang Toru ecosystem.

Product overview

PT Agincourt Resources operates a single primary product: the Martabe Gold Mine, located in North Sumatra, Indonesia. The company functions as a mining operator focused on gold extraction with integrated sustainability programs. The operation includes environmental management, biodiversity conservation (notably protecting the Tapanuli orangutan habitat in the Batang Toru Forest), community development programs, and responsible mining practices. The company emphasizes sustainable development, implementing initiatives such as zero waste management, circular economy principles, climate action, and social programs including free cataract surgery and scholarships.

Differentiator

Problem solved

Functional benefit

Brands

  • Martabe Gold Mine: Gold mining operation located in North Sumatra, Indonesia, operated by PT Agincourt Resources
  • Tambang Emas Martabe

Products and services

  • Martabe Gold Mine

Companies that use PT Agincourt Resources

Customer profile

Ideal customer profiles1 record

PT Agincourt Resources technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

PT Agincourt Resources partnerships and signals

Strategic signal

Recent moves8 records

Expansion highlights4 records

PT Agincourt Resources competitors and assessment

Company assessment

Direct peers

  • PT Freeport Indonesia: Operates the Grasberg mine in Papua, Indonesia — one of the world's largest gold and copper operations. Directly comparable as a major foreign-affiliated, single-jurisdiction precious/base metal miner exposed to Indonesian resource-nationalism and environmental scrutiny.
  • PT Aneka Tambang (Antam): Indonesian state-owned integrated mining company producing gold, nickel, bauxite, and other minerals. Comparable as a domestic Indonesian precious-metals producer serving the same regulatory environment and customer base.
  • Pan American Silver: Major silver and gold producer operating mines across the Americas. Comparable for joint gold/silver production profile, given that PTAR also produces silver alongside gold at Martabe.

Regional players

  • PT Bukit Asam: Indonesian state-owned mining company focused primarily on coal, with growing interests in other minerals. Comparable as a domestic Indonesian miner operating under similar state regulatory oversight and ESG scrutiny.

Broad incumbents

  • Newmont Corporation: World's largest gold mining company with a global portfolio of producing mines. Comparable as a senior gold producer benchmark for production scale, AISC margins, and reserve life, though Newmont's diversification across multiple jurisdictions is materially greater than PTAR's.
  • Barrick Gold Corporation: Major senior gold producer with operations across multiple continents. Comparable for gold mining operating benchmarks and as a peer for global gold equities, while differing sharply from PTAR's single-asset/single-country profile.
  • AngloGold Ashanti: Global senior gold mining company with operations across Africa, the Americas, and Australia. Comparable for gold production economics and ESG/biodiversity practices relevant to PTAR's Tapanuli orangutan commitments.
  • Gold Fields Limited: Major global gold producer with diversified operations in Australia, South Africa, Ghana, and the Americas. Comparable as a senior gold miner benchmark for capital intensity, AISC, and ESG reporting standards.
  • Kinross Gold Corporation: Mid-tier senior gold producer with a portfolio of mines in the Americas and West Africa. Comparable for mid-tier single-commodity gold operating model, though with greater geographic diversification than PTAR.
  • Agnico Eagle Mines: Senior gold producer with a portfolio of mines in Canada, Mexico, Finland, and Australia. Comparable for best-in-class ESG and community engagement practices relevant to PTAR's sustainability positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights5 records

Customer concentration

PT Agincourt Resources social profiles

Digital presence

PT Agincourt Resources financial estimates

Financial estimate

Revenue estimate

Valuation estimate

PT Agincourt Resources leadership team

Management profile

Number of profiles

Profiles10 records

PT Agincourt Resources funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

PT Agincourt Resources M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about PT Agincourt Resources

What does PT Agincourt Resources do?

PT Agincourt Resources explores, mines, and processes gold and silver ore at the Martabe Gold Mine in North Sumatra, Indonesia, producing gold and silver ingots for sale. Since 2012, the open-pit operation has focused on safe, sustainable production alongside biodiversity conservation, community development, and environmental management programs in the Batang Toru ecosystem.

Is PT Agincourt Resources a public or private company?

PT Agincourt Resources is a private company. It is classified as corporate owned and is currently operating.

When was PT Agincourt Resources founded?

PT Agincourt Resources was founded in 2012. It employs 1,001 to 5,000 people.

Where is PT Agincourt Resources based?

PT Agincourt Resources is headquartered in Pondokindah, Indonesia, in the Asia region.

Who are PT Agincourt Resources's main competitors?

Direct peers on record are PT Freeport Indonesia, PT Aneka Tambang (Antam) and Pan American Silver. PT Bukit Asam is listed as a regional player. Broad incumbents are Newmont Corporation, Barrick Gold Corporation, AngloGold Ashanti, Gold Fields Limited, Kinross Gold Corporation and Agnico Eagle Mines.

Does PT Agincourt Resources have an API?

No public API is recorded for PT Agincourt Resources.

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Live signals
The Business TimesIndonesia: Market volatility and climate riskIndonesia's recent financial market volatility, including an US$80 billion stock-market rout that prompted the resignation of the Indonesia Stock Exchange chief executive, has revived concerns about the interaction between financial stability, natural capital and climate-related physical risk in a resource-dependent economy. Research from the Sustainable and Green Finance Institute at the National University of Singapore shows that exposure to fossil-intensive sectors can elevate expected losses by 60 to 100 per cent under severe climate scenarios. The transfer of the Martabe gold mine from Agincourt Resources to Perminas, a state-linked entity under Danantara, illustrates how decisions at the intersection of environmental policy and state involvement have direct consequences for financial markets and investor confidence.ANTARA NewsIndonesia to reveal decision on Martabe gold mine next week: MinisterIndonesia's Energy and Mineral Resources Minister Bahlil Lahadalia announced the government will reveal its decision on the Martabe gold mine next week, following an environmental and safety review triggered by flash floods and landslides in Sumatra in November 2025. The mine, currently operated by PT Agincourt Resources, is among 28 companies whose licenses were flagged for revocation by the Forest Area Enforcement Task Force on January 20. Danantara's COO previously indicated state-owned enterprise Perminas could take over Martabe operations, while President Prabowo Subianto has instructed officials to handle the review proportionally.The Business TimesIndonesia reviews decision to take over Martabe gold mineIndonesia is reviewing its decision to take over the Martabe gold mine from Agincourt Resources, following a directive from President Prabowo to verify whether environmental violations actually occurred. The government had revoked permits for 28 companies in northern Sumatra after floods and landslides killed over 1,200 people, with assets slated for transfer to sovereign wealth fund Danantara Indonesia, which created subsidiary Perminas to manage the mine. Energy Minister Bahlil Lahadalia stated a final decision would be announced soon, while analysts warn the outcome could significantly impact Indonesia's investment climate.Discovery AlertIndonesia Martabe Gold Mine Takeover Review 2026Indonesia's government initiated a review of the Martabe gold mine takeover in February 2026, following the revocation of permits for 28 mining companies after a natural disaster in northern Sumatra killed at least 1,200 people, with authorities alleging environmental breaches exacerbated flood and landslide impacts. The Energy Ministry announced a verification-based approach to assess whether violations occurred before proceeding with asset transfers, with Energy Minister Bahlil Lahadalia indicating that investor rights would be restored if no violations were found. The Martabe mine is operated by Agincourt Resources, owned indirectly through Jardine Matheson's conglomerate structure including Astra International and United Tractors, while PT Perusahaan Mineral Nasional (Perminas) was established under the Danantara Indonesia sovereign wealth fund as a dedicated state mining enterprise for potential asset management.BloombergIndonesia Gold Mine Investors Can Appeal Takeover, Purbaya SaysInvestors may appeal Indonesia's decision to take over the Martabe gold mine in Sumatra, after the permit was revoked due to alleged links to deadly floods. The mine is operated by PT Agincourt Resources, which is controlled by PT Astra International and Jardine Matheson Holdings Ltd.TeknoMartabe Gold Mine Operator Focuses on Sustainable PracticesPT Agincourt Resources, operator of the Martabe Gold Mine in North Sumatra, Indonesia, has stated it respects government directives and remains committed to regulatory compliance and sustainable mining practices following President Prabowo Subianto's announcement revoking a number of mining permits. The government, through Danantara's Chief Operating Officer Dony Oskaria, has indicated plans to establish a new state-owned enterprise to take over mining operations in North Sumatra, though technical discussions on the transfer have not yet been held.Financial TimesIndonesia revokes mining and plantation permits after deadly floodsIndonesia's President Prabowo Subianto has revoked the permits of 28 resource companies following a government investigation into their role in devastating floods that killed more than 1,190 people in late November, with the task force finding that these companies violated environmental regulations in their operations. Among the affected firms are Agincourt Resources (a Jardine Matheson subsidiary operating the Martabe gold mine in North Sumatra), North Sumatra Hydro Energy (controlled by China's SDIC Power Holdings and developing a hydropower plant), and Toba Pulp Lestari, with 22 companies operating across approximately 1 million hectares of natural forests and plantations. The environment ministry has also initiated civil lawsuits worth Rp4.8 trillion ($285 million) against six companies for allegedly destroying watershed systems, with authorities warning that criminal charges may follow.MintIndonesia Halts Agincourt, PTPN III Operations After Floods | Company Business NewsThe Indonesian government suspended operations at three companies in Sumatra—PT Agincourt Resources, PT Perkebunan Nusantara III, and PT North Sumatera Hydro Energy—to investigate whether their land-clearing activities contributed to deadly floods and landslides. Authorities have ordered the firms to conduct environmental audits following aerial inspections that revealed significant upstream land clearing.ReutersIndonesians climb over logs in walk to aid centre as flood deaths rise over 900A flood in Aceh Tamiang, Indonesia, caused over 900 deaths and widespread devastation, prompting residents and volunteers to walk for hours to access aid. Indonesian authorities are investigating companies suspected of deforestation that may have worsened the flooding, including North Sumatra Hydro Energy and Agincourt Resources.ReutersIndonesia promises action on any mining permit violations as Sumatra floods toll at about 800Indonesia's Energy Minister pledged to revoke mining permits for companies found violating rules following cyclone-induced floods in Sumatra that have killed approximately 800 people. The government and environmental groups are investigating whether deforestation linked to mining operations exacerbated the disaster, with specific scrutiny directed at permit holders like PT Agincourt Resources. Indonesia has lost millions of hectares of forest cover over the past two decades, raising concerns about the environmental impact of extraction zones.