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Indonesia to Gradually Stap Exporting Gold

Translator

Ricky Mohammad Nugraha

Editor

Mahinda Arkyasa

10 February 2023 22:35 WIB

Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif delivered his presentation in a working meeting with Commission VII DPR at the Parliament Complex, Senayan, Jakarta, Monday, March 22, 2021. The working meeting discussed the projected demand for coal as Primary Energy for power plants owned by PLN and IPP until 2028 and the efforts of the Ministry of Energy and Mineral Resources to provide the coal supply. TEMPO/M Taufan Rengganis

TEMPO.CO, Jakarta - The Energy and Mineral Resources Minister Arifin Tasrif on Friday announced that the government will enact an export ban on gold, which will be done gradually. He said this strategy is needed to open up more job opportunities and attract more workers. 

“The industry downstream must be conducted to produce a final product that can create higher value. That is what can create more jobs,” said Arifin to journalists at his headquarters on February 10. 

However, he did not say when this export ban on gold will be enacted nor did he reveal whether this aligns with the government’s plan to establish a Bullion Bank or Indonesia’s gold bank. 

“[The bullion bank] has nothing to do with minerba (mineral and coal),” he said. 

The export ban was previously mentioned by President Joko Widodo in a meeting with the financial service industry on Monday, February 6. The President insists that enacting downstream to the mineral industry is a key aspect to elevating the country to become a developed nation. 

RIRI RAHAYU

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