{
    "success": true,
    "data": {
        "id": 1916233,
        "msgid": "10-expert-recommendations-to-develop-indonesias-gold-downstream-industry-1786585856",
        "date": "2026-08-13 08:02:23",
        "title": "10 Expert Recommendations to Develop Indonesia's Gold Downstream Industry",
        "author": "",
        "source": "CNBC",
        "tags": "",
        "topic": "Mining",
        "summary": "Chairman of Indonesia Mining (IMI) Irwandy Arif has outlined ten strategic recommendations to transform Indonesia's gold sector beyond mere trading. The proposals include integrating mining reserves, standardising refinery quality, and utilising gold as a financial instrument. The expert also highlighted the need to reform illegal mining, which currently accounts for 100 tonnes of annual production, to boost state revenue.",
        "content": "<p>Chairman of Indonesia Mining (IMI) Irwandy Arif has presented various\nrecommendations to stakeholders so that gold is not merely viewed as a\ncommodity to be bought and sold. The series of suggestions aims to\ndevelop the gold industry in Indonesia. \u201cI have actually prepared for\nthis, that gold should not be seen just as something we buy and sell.\nSo, not just production. This is what the government must do,\u201d he said\nduring the Mindialogue 2026 event on Wednesday (12\/8\/2026). The first\nrecommendation is to integrate gold resources, reserves, and mining.\nAccording to him, reserves are the lifeblood of a mining company.\n\u201cWithout reserves, do not claim to be a mining company. You become a\ntrading company,\u201d Irwandy stated. Secondly, there is a need for\nstandardisation and quality improvement of gold refineries in Indonesia.\nHe noted that standardisation has already been carried out by ANTAM\nthrough London Bullion Market Association (LBMA) certification. Thirdly,\ngold assets should not only be prepared for trading. In other words,\ngold can function as a financial instrument. \u201cThere has been a shift\nfrom buying jewellery to buying bullion and using it as a hedge in\nbanks,\u201d Irwandy explained. As a financial instrument, gold can be stored\nor used for gold-based financing. Gold can also function as an\ninvestment, gold financing, or a gold sovereign wealth fund. The next\nsuggestion is that Indonesia needs to develop its jewellery industry.\nCurrently, Indonesia even has a ban on exporting jewellery. \u201cAs a\nresult, people find loopholes, making very large bundled gold necklaces\nso they can export. That is what is happening now,\u201d he clarified.\nFurthermore, there is a need to regulate gold reserves at Bank\nIndonesia. According to Irwandy, this regulation could be made by\nadjusting to the country\u2019s financial conditions. The sixth suggestion is\nto pay attention to the country\u2019s rating without stifling investment.\nThis is to ensure investment development occurs in Indonesia. Next is\nthe reform of community mining, as initiated by MIND ID. The existence\nof community mining reform can increase gold production. He revealed\nthat Indonesia currently produces up to 100 tonnes of gold per year from\nunlicensed mining activities (PETI). If this reform is implemented,\nIndonesia will produce approximately 120 tonnes of gold per year. \u201cIf\nthis happens, it will be extraordinary. Revenue for the state. The\ndetailed concept has been compiled in two FGDs,\u201d he said. The following\nrecommendation is to separate legal and illegal gold. In this regard,\nIndonesia needs to prepare a gold traceability system. The\nimplementation of Environmental, Social, and Governance (ESG) standards\nin mining activities also needs to be carried out. Then, there is a need\nfor policies that facilitate the gold industry. The final suggestion is\nthe establishment of schools around gold mining areas. He explained that\nsuch efforts are being made by PT Freeport Indonesia through the\nNemangkawi Mining Institute (IPN). However, IPN aims to train operators\nand does not concentrate on gold-specific schools. \u201cIf these 10 or 11\nsteps can be implemented, our gold industry will be able to fly the red\nand white flag there,\u201d Irwandy asserted.<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/10-expert-recommendations-to-develop-indonesias-gold-downstream-industry-1786585856",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}