Indonesia Mulls Domestic Gold Market Policy to Reduce Antam’s Import Dependency

Indonesia’s gold industry might soon experience a major policy shift. The Ministry of Energy and Mineral Resources (ESDM) is currently evaluating the potential implementation of a Domestic Market Obligation (DMO) scheme for gold, a move aimed at reducing the nation’s dependence on imported gold as raw material for processing and refining.

Currently, PT Aneka Tambang Tbk (Antam) imports around 30 tons of gold annually to sustain its precious metal production operations. This heavy reliance on foreign supply poses both economic and strategic challenges, prompting the government to explore mechanisms that could ensure greater self-sufficiency in the gold sector.

According to Tri Winarno, the Director General of Mineral and Coal at ESDM, the potential DMO policy must undergo a comprehensive review before implementation. The study involves evaluating the impact on industry players, refining capacity, and the overall market balance.

He noted that Antam already has an existing gold supply partnership with PT Freeport Indonesia (PTFI), ranging between 25 to 30 tons per year. However, the collaboration has yet to reach full potential due to operational constraints at Freeport’s smelter facilities.

If executed properly, the DMO gold scheme could help optimize domestic supply chains, strengthen Indonesia’s industrial base, and align with the country’s long-term goal of reducing import dependency across strategic commodities.

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The potential DMO policy for gold reflects Indonesia’s ongoing efforts to boost self-reliance in the mining and mineral sector. While implementation may take time, the move signals a strong commitment from the government to secure national resources and support sustainable industrial growth.

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