Mind ID Boss Expresses Indonesia's Desire To Become A Price Setter Of The Leading Mining Commodity

Mining (Photo: Doc Antara)

JAKARTA - President Director of BUMN Mining Industry Holding MIND ID, Hendi Prio Santoso expressed his desire for Indonesia to become a country that regulates the selling price of world mineral commodities.

Hendi said Indonesia has superior mining commodities when compared to other countries' resources.

"Of course we want to rely on the main commodities that are our basis for strength so that it is hoped that soon we can become a price setter," said Hendi in the Mining Zone quoted Friday, August 16.

Hendi continued, so far some of Indonesia's leading commodities such as coal still depend on index from other countries such as Australia. In fact, he continued, there are certain commodities that are Indonesia's mainstay, such as Timah, controlling 1/3 of the world supply chain together with Peru and China.

"We could imitate the OPEC pattern, 3 countries unite to do price settings so hopefully it doesn't depend on the London Metal Exchange whose market is controlled by a global trader," he concluded.