Antam Calls The Government's Plan To Strengthen National Gold Supply Through DMOs A Positive Step

JAKARTA - PT Aneka Tambang Tbk or Antam welcomes the government's plan to strengthen the availability of gold for the Indonesian people through optimizing supply from domestic sources.

This is in response to the Ministry of Energy and Natural Resources (ESDM) which reviews the implementation of a domestic market obligation (DMO) scheme for gold commodities.

The discourse of the Ministry of Energy and Mineral Resources cannot be separated from Antam, which is known to still import gold as a raw material for precious metals weighing 30 tons per year from Singapore and Australia to meet domestic needs.

Antam's Corporate Secretary Division Head, Wisnu Danandi Haryanto, said that government policy is a strategic step in maintaining a balance between community needs, industrial sustainability and increasing the added value of national mineral commodities.

"In principle, Antam views the government's plan to strengthen the gold supply from domestic sources as a positive step in supporting the availability of gold for the Indonesian people," said Wisnu in his official statement, written on Saturday, October 18.

"This initiative is also in line with the direction of national downstream policy and the spirit of strengthening added mineral value as regulated in the latest government regulations," he added.

Wisnu emphasized that the amount of DMO obligations is entirely within the authority of the government. This policy will take into account the needs of the domestic market, national production capacity and the dynamics of the gold and silver industry as a whole.

"Antam fully supports the government's steps in ensuring that Indonesians can gain access to gold from within the country. We are ready to carry out government directives in order to strengthen domestic gold supply," he said.

In its implementation, Antam assessed, the importance of implementing the principle of fairness so that all industry players, both miners and processors, obtain business certainty and balanced economic value.

"The DMO policy is expected to be prepared with a principle of transparency and justice, so that all actors in the supply chain can play an active role in maintaining the sustainability of the national gold industry," explained Wisnu.

In addition, Antam also sees the need for cross-sectoral policy synchronization so that the implementation of the DMO runs effectively. Tax aspects, trading procedures and other supporting regulations need to be harmonized to create a strong and competitive gold and silver precious metal ecosystem.

"Antam believes that the appropriate policy adjustments will encourage the growth of the national metal, gold and silver industry to be competitive and sustainable and provide tangible benefits for the community and the national economy," he added.