Tin to be the First Commodity on Indonesia's Mineral Exchange
Indonesia is set to establish the Mineral and Strategic Commodity Exchange (BMKS), also known as the Indonesia Commodity Exchange (Icomex). The inauguration of Icomex is scheduled for today, 17 September 2026.
Sarjito, the Chief Executive of Supervision for the Mineral and Strategic Commodity Exchange at the Financial Services Authority (OJK), revealed that tin will be the first strategic mining commodity traded on the Indonesia Commodity Exchange (ICOMEX).
He noted that this plan considers tin as the commodity that has been traded for the longest period on commodity and derivative exchanges, such as the Jakarta Futures Exchange (JFX).
“Why tin first? Currently, tin is already traded on the JFX and has been for quite some time, but our participation at that time was still limited,” said Sarjitu during a working meeting with Commission XI at the Parliament Complex, Senayan, Jakarta, on Wednesday (17/9/2026).
Nevertheless, participation in tin commodity trading on the JFX is considered to be still low. Moving forward, with the involvement of the state-owned mining holding company, MIND ID, it is hoped that tin trading on ICOMEX will be larger.
“Now, with the government’s efforts to involve MIND ID and also government regulations that allow all the trading we anticipate to be seen on the exchange, this is certainly something very positive,” Sarjito stated.
Furthermore, the government is encouraging transparency during the initial operations as well as B2B schemes in ICOMEX. The goal is to ensure that transaction participation in ICOMEX becomes robust and that liquidity can be established.
Additionally, through ICOMEX, it is hoped that domestic industrial demand will improve, thereby driving downstreaming and industrialisation, as well as optimising smelter operations.
The Financial Services Authority (OJK) explained that the Mineral and Strategic Commodity Exchange (BMKS), or Indonesia Commodity Exchange (Icomex), will be launched on Thursday, 17 September 2026.
In addition to the launch, two Draft OJK Regulations (RPOJK)—concerning the transition of the Mineral and Strategic Commodity Exchange and the administration of the Mineral and Strategic Commodity Exchange—will be enacted.
Following this, the operational permit for the Mineral and Strategic Commodity Exchange is targeted for issuance in January 2027. Once the permit is issued, the OJK will begin its regulatory and supervisory functions regarding the activities of the mineral exchange.
He added that the first transactions through the Icomex entity are expected to take place on 4 January 2027. With the commencement of these operations, Indonesia will enter a new era in the management of mineral and strategic commodity trading.