Indonesia to Gradually Stap Exporting Gold
10 February 2023 22:35 WIB
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.
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