The Majority Of Antam's Gold Is Still Imported, The Ministry Of Energy And Mineral Resources Reviews DMO Policy

Illustration: Photo: Doc. ANTARA

JAKARTA - The Ministry of Energy and Mineral Resources (ESDM) is considering the Domestic Market Obligation (DMO) policy for gold commodities.

This follows the high import of gold by PT Aneka Tambang Tbk (ANTM) which was recorded at 30 tons.

Director General of Mineral and Coal (Minerba) of the Ministry of Energy and Mineral Resources Tri Winarno said there were several considerations made by the government regarding the gold DMO. One of them is the potential for gold buildup when it comes into effect.

"For example, if there is a DMO, what will be the operation for example if there is (Freeport)? Don't let it continue to pile up," Tri said, quoted on Tuesday, October 14.

Tri explained that currently Antam has an agreement to absorb 30 tons of gold produced by PT Feport Indonesia. However, currently there are still problems with the closure of the Freeport mine due to landslides in underground mines.

"Actually, there is no problem with the agreement, it's okay. Well, just because this is an incident, right, we'll discuss it later, we'll evaluate how good it is," said Tri.

Previously, the President Director of PT Aneka Tambang Tbk (ANTM) Achmad Ardianto admitted that he had difficulty finding Indonesia's gold supply. To meet the meal, Didi, Ardianto's nickname, said that his party has standards in meeting needs, one of which is by importing.

Antam is known to import 30 tons of gold from Singapore and Australia per year to meet domestic needs.

"Maybe 30 tons. Our potential is 90 tons," said Didi in a Hearing Meeting (RDP) with Commission VI of the Indonesian House of Representatives, Monday, September 29.

Despite importing, Didi ensured that the gold imported from Australia and Singapore was registered with the London Bullion Market (LBMA).

Affiliated companies include bullion banks, refinerys, and traders.