Dividend 2017, Martabe Gold Mine Pays a Total US$6,7 Million to PT ANA

Dividend 2017, Martabe Gold Mine Pays a Total US$6,7 Million to PT ANA

Batangtoru, March 25, 2018-- PT Agincourt Resources, which manages and operates Martabe Gold Mine, during 2017, has paid a total US$ 6.7 million or IDR 90,466,000,000 of dividend to PT Artha Nugraha Agung (PT ANA), an enterprise in which the government of South Tapanuli District holds 70% shares and the government of North Sumatra Province holds 30% shares.

The dividend payment has been declared in the Annual General Meeting of the Shareholders of PT Agincourt Resources, which was held on Wednesday, March 21, 2018, in Jakarta.

Through the execution of this payment dividend, the outstanding shareholder loan of PT ANA has been with a total of US$4 million fully repaid, and starting this year, the dividend can be fully utilized for the benefit of the community in the surrounding of the mine in South Tapanuli and North Sumatera.

The loan of PT ANA was for acquiring 5% shares of PTAR.  Meanwhile, from the total dividend received by PT ANA managed by the government of South Tapanuli Regency, some 40% is required to be utilized for various community development programs in villages surrounding the mine.

While the rest 60% is distributed to South Tapanuli Regency through its Regional Owned Enterprise PT Tapanuli Selatan Membangun (TSM) and North Sumatera Provincial Government through PT Pembangunan Prasarana Sumut (PPSU).

Linda Siahaan, Vice President Director of PT Agincourt Resources explained that last year dividend’s payment to PT ANA was conducted in two phases, which was in September 2017 and December 2017. 

"The distribution of dividend in 2017 has been the best achievement to date, for PT Agincourt Resources, PT ANA, and the South Tapanuli regency.  This is also in line with the Ministry of Energy and Mineral Reources’s expectation in which they wanted the community surrounding the mine could feel a significant positive impact from our mining activities. And of course, we all expect the Martabe Gold Mine contribution through dividend will increase significantly, in the future,” Linda said.

Furthermore, Linda revealed that from the total dividend received by PT ANA in 2017, as much as IDR 41.54 billion was specifically allocated for community development program.

“This value is quite large and we fully handed it over to South Tapanuli Regency to manage the fund. Starting from this year, we do hope that the dividend from Martabe Gold Mine will be distributed and fully benefiting the community,’’ she added.

Tim Duffy, President Director of PT Agincourt Resources stated that Martabe Gold Mine will consistently apply transparency in all aspects of the company’s performance. Transparency is one of the company’s core values and it should be reflected in the day-to-day operation of the company.

"We are prioritizing transparency in realizing good governance at PT Agincourt Resources, and we do hope that through transparency we will keep obtaining the support from all the stakeholders for a sustained operation of Martabe Gold Mine,” Tim said.

Tim Duffy added that the company always fulfils its financial obligations under the Government Regulation which is an integral part of the good and responsible mine management run by the Martabe Gold Mine.

Tim emphasized that the company has paid tax and royalty and other financial obligations, which are expected to contribute for the improvement of the growth of Indonesia's economic and welfare.