Indonesia to open trading at planned commodity bourse on January 4, official says
Indonesia plans to start trading at its new commodity exchange on January 4, 2027, with tin and ferronickel to be included in the opening transactions, the chief supervisor of the commodity exchange said on Tuesday.
State miners are expected to be among the first participants in the exchange, according to a slide presented at a parliamentary hearing by chief supervisor Sarjito, who goes by a single name.
The commodity exchange, to be known as ICOMEX, is part of President Prabowo Subianto's push to expand state control over the country's vast natural resources and their proceeds.
In a fiery speech last month, Subianto said Indonesia would rather keep its resources than sell them too cheaply.
Friderica Widyasari Dewi, chairperson of the Financial Services Authority (OJK), said the exchange would help combat under-invoicing and end transfer-pricing practices for commodity exports.
The OJK expects to issue regulations for the exchange on September 17 and the bourse will be created on the same day. The license for the bourse will be issued on January 1.
"Trading on the mineral and strategic commodity exchange is expected to launch in early January, January 4, 2027, through the ICOMEX entity," Sarjito said, referring to the name of the planned exchange.
Article Enquiry
Email Article
Save Article
Feedback
To advertise email advertising@creamermedia.co.za or click here
Latest Multimedia
Latest News
Showroom
Virtual Gas Network supplies compressed natural gas via a virtual gas distribution network.
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
