Tin to Be First Commodity Sold on ICOMEX Mineral Exchange

Jakarta, CNBC Indonesia — The Financial Services Authority (OJK) has revealed that tin will be the first strategic mining commodity traded on the Indonesia Commodity Exchange (ICOMEX).

Sarjito, Executive Head of Supervision for Mineral and Strategic Commodity Exchanges at OJK, said the plan takes into account that tin is the longest-traded commodity on commodity and derivative exchanges such as the Jakarta Futures Exchange (JFX).

“Why tin first? Tin has already been traded on the JFX for quite some time, but at that point its participation was still limited,” Sarjito said during a working meeting with Commission XI of the House of Representatives at the Parliament complex in Senayan, Jakarta, on Tuesday (15/9/2026).

Even so, participation in tin commodity trading on the JFX has been considered quiet. Going forward, with the involvement of the state-owned mining holding company MIND ID, tin trading on ICOMEX is expected to be much larger.

“Now, with the government’s effort to involve MIND ID and the government’s provisions that will require all trading to go through the exchange, this is certainly something very good,” said Sarjito.

Furthermore, the government is pushing for transparency both at the start of operations and in the B2B scheme on ICOMEX. This should lead to busy transaction participation on ICOMEX and the formation of liquidity.

Subsequently, with ICOMEX, domestic industrial demand is expected to improve, supporting downstreaming and industrialisation as well as optimising smelters.

OJK explained that the Mineral and Strategic Commodity Exchange (BMKS), or Indonesia Commodity Exchange (ICOMEX), will be launched on Thursday, 17 September 2026.

Alongside the launch, two draft OJK regulations (RPOJK) — one on the transition of the Mineral and Strategic Commodity Exchange and one on its operation — will be enacted.

After that, the operating licence for the exchange is targeted to be issued in January 2027. Once the licence is granted, OJK will begin carrying out its regulatory and supervisory functions over the mineral exchange.

He added that the first transactions on the exchange through the ICOMEX entity are expected to take place on 4 January 2027. With the start of these operations, Indonesia will enter a new chapter in the governance of trading in minerals and strategic commodities.