2 min read –
Indonesia Mining: world-class geology –
< 1% of global exploration spend –
What JORC 2026 taught me –
Last month, on August 12th, I had the pleasure of attending “JORC 2026 and Beyond,” an event organized by Secretariat EMD Indonesia and held at Georgetown University Jakarta.
It was a great chance to connect with peers from the exploration and mining community and to hear a data-driven assessment of where Indonesia’s exploration sector truly stands today.
For those less familiar: EMD Indonesia (Explorers and Mine Developers Association) is the country’s leading voice for the exploration industry, bringing together companies, professionals and policymakers to advance greenfield exploration.
JORC refers to the Joint Ore Reserves Committee, a joint committee established by the Australasian mining and exploration industry. JORC’s Code sets the international benchmark for reporting mineral Resources and Reserves, a standard central to how investors and regulators judge project credibility.
The highlight for me was the presentation by Dan Bowman, a professor at Georgetown University Jakarta, titled “The State of Indonesian Exploration 2026.”
A few takeaways:
➡️ Despite being ranked among the world’s most prospective jurisdictions, Indonesia captures under 1% of global exploration spend, and most of that is brownfield, not greenfield.
➡️ The consensus in the room: Indonesia’s underperformance in attracting greenfield exploration investment is a policy problem, not a geology one. Riskier jurisdictions elsewhere still attract more greenfield capital.
➡️ A striking share of Indonesian land (5,5%) is already allocated to mining, far above comparable peers like Peru (2,6%), alongside notable informal/illegal mining outside concession boundaries, a sign of untapped potential.
➡️ Around 3,500 IUPs (Izin Usaha Pertambangan, or Mining Business Permits) were cancelled or revoked between 2020-2025, whether for expiry, non-compliance, or unpaid obligations. When a permit is cancelled, the ground it covered reverts to unclaimed status; so this wave of cancellations effectively puts a large amount of previously licensed land back on the market, available for new investors to pursue.
➡️ Encouragingly, the government’s revised fiscal and contractual frameworks show real movement toward more competitive, investor-friendly terms; though still short of what greenfield explorers are asking for.
Great geology, improving policy, land coming back on the market: Indonesia’s exploration sector has real momentum building. Exciting times ahead for those paying attention.
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Source and credit: Daniel Bowman