VINANSIA.COM – Muhammadiyah has announced the formation of two corporate bodies for managing its newly acquired mining concessions. This development follows Muhammadiyah’s receipt of mining rights from the government.

Muhammadiyah has appointed Coordinating Minister for Human Development and Culture Muhadjir Effendy as the Chairman of the Muhammadiyah Mining Management Team.

"The mining team has been established, with me as the Chairman. I am not a mining expert but the Chairman of the Economic Division of Muhammadiyah," said Muhadjir at the Presidential Complex in Jakarta on Wednesday, September 11, 2024.

He outlined that two corporate entities have been created: a strategic company and an operating company.

"The strategic company will serve as the holding entity, while the operating company will be managed by experts with substantial mining experience," Muhadjir explained.

Additionally, Muhammadiyah plans to involve five mining faculties from its universities in the management of the mining operations. The organization aims to proceed methodically with the mining management and is focusing on establishing a solid management body first.

"We have a Muhammadiyah-owned enterprise called BUMM. We are currently establishing the holding company and the operating company. The operating company will collaborate with contractors and conduct preliminary surveys to ensure the viability and robustness of the mining business," he concluded.