OJK Accelerates Mineral Exchange Regulation, Targets Completion by 17 September 2026

The Financial Services Authority (OJK) is accelerating the completion of regulations for the Mineral and Strategic Commodities Exchange (BMKS), targeted for finalisation by 17 September 2026. The regulation is a crucial part of ensuring the BMKS can begin operations as planned on 1 January 2027.

Chairman of the OJK Board of Commissioners Friderica Widyasari Dewi stated that the authority is currently finalising several derivative regulations from Law Number 4 of 2026 concerning Amendments to Law Number 4 of 2023 on the Development and Strengthening of the Financial Services Sector (P2SK).

“Currently, OJK is in the process of completing the derivative provisions related to the Mineral and Strategic Commodities Exchange,” said Kiki, as Friderica is familiarly known, during a press conference for the Financial Note and 2027 State Budget Draft at the Directorate General of Taxes office in Jakarta on Friday (14/8).

According to her, these provisions will, among other things, regulate the transition stages of trading and the operation of the BMKS. The OJK also needs to prepare various aspects to ensure the exchange’s operations can commence as targeted from the beginning of 2027.

Kiki added that the draft OJK Regulation (RPOJK) concerning the BMKS must also be consulted and approved by the House of Representatives (DPR) in accordance with the mandate of Law Number 4 of 2026. This process is expected to be completed promptly to accelerate the establishment of the regulatory framework and operational preparations for the exchange. “At the latest, the POJK must be completed by 17 September 2026,” she said.

She explained that the BMKS is expected to become an instrument for deepening the domestic market while establishing a price reference for strategic minerals and commodities within the country. Until now, Indonesia, as one of the world’s largest producers of strategic commodities, has lacked a strong price discovery mechanism and domestic price benchmark.

“The BMKS is expected to serve as a price reference to reduce or eliminate transfer pricing, under-invoicing, and other practices,” Kiki stated.

The OJK believes the establishment of the BMKS plays a strategic role in improving the governance of national commodity trading. With a domestic price reference, the policy is expected to enhance trade transparency while providing greater benefits for the economy and the welfare of the Indonesian people.

Regarding the types of mineral commodities to be traded through spot contracts on the Mineral and Strategic Commodities Exchange (BMKS), Kiki said these provisions will be further regulated through a presidential regulation (perpres).