MIND ID pushes gold output to bolster Indonesia reserves
As of end-July 2026, Indonesia's foreign exchange reserves stood at US$145.3 billion, equal to 5.5 months of imports.
MIND ID is pushing for higher domestic gold production to help support Indonesia's foreign exchange reserves. MIND ID Chief Executive Maroef Sjamsoeddin said gold has strategic value because, beyond its high economic worth, the metal can also be part of a central bank's international reserves. At the MINDialogue forum in Jakarta on Wednesday, he proposed formalizing artisanal mines into IPR, or Izin Pertambangan Rakyat, through regulatory harmonization and technical guidance. The goal is to bring gold from artisanal mines into the formal supply chain and have it absorbed by refining facilities that meet London Bullion Market Association standards. For the processing stage, MIND ID also is pushing for the involvement of legally registered aggregators so the supply chain is more traceable. Bank Indonesia reported that Indonesia's foreign exchange reserves at the end of July 2026 were US$145.3 billion, slightly down from US$145.6 billion in June.