TheJakartaPost
Please Update your browser
Your browser is out of date, and may not be compatible with our website. A list of the most popular web browsers can be found below.
Just click on the icons to get to the download page.
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search results
Popular Reads
Top Results
No results found. Please check your search term and try again
Can't find what you're looking for?
View all search resultsGovt to establish new domestic mineral exchange
The government plans to launch a new exchange for minerals and strategic commodities next year. The initiative will allow Indonesia to establish benchmark prices and is hoped will strengthen the country’s position as a key global mineral producer, as well as enhance transparency in commodity trading.
Change text size
Gift Premium Articles
to Anyone
Share the best of The Jakarta Post with friends, family, or colleagues. As a subscriber, you can gift 3 to 5 articles each month that anyone can read—no subscription needed!
A coal barge sails the western Java Sea on Oct. 31, 2023, as it heads to a coal terminal near the Suralaya coal-fired power plant in Cilegon, Banten. (AFP/Ronald Siagian)
The government plans to launch a new exchange for minerals and strategic commodities next year.
The initiative will allow Indonesia to establish benchmark prices and is hoped will strengthen the country’s position as a key global minerals producer, as well as enhance transparency in commodity trading.
Mukhamad Misbakhun, chairman of House Commission XI, which oversees financial affairs, revealed the plan on Thursday as the House passed a revision of the Financial Sector Development and Strengthening Law (P2SK).
The new exchange is expected to help Indonesia become a trading hub of various strategic commodities, with governance modeled on best practices from other countries.
“We are discussing how minerals and strategic commodities are traded in Indonesia, so that people are informed about our minerals, their price levels. It will also serve as a binding contract,” Misbakhun said, as quoted by Kontan.
Read also: Industry braces for on-the-ground reality as new coal, CPO export scheme goes live
He explained that the new bourse would be different from the newly established PT Danantara Sumberdaya Indonesia (DSI) or the existing Commodity Futures Trading Regulatory Agency (Bappepti), noting that the government was still working out the most appropriate framework to ensure that the roles of each institution would not overlap.
