Jakarta Indonesia 21/11/2025, WorldWartaGlobal. Id
The Indonesian government is preparing a Draft Minister of Finance Regulation (PMK) that will set export duties for gold commodities, from dore, ingots, to minted bars. This policy is designed to protect the nation's dwindling gold reserves and meet high domestic demand since the introduction of bullion banks.
Indonesia's gold ore reserves decreased from 3,510 tons in 2022 to 3,481 tons in 2023. Although it still has the world's fourth-largest gold reserves, the government considers high domestic demand and supply constraints for businesses as the main reasons for raising export tariffs.
The applied export duty rates vary between 7.5% and 15%, depending on the form of gold and the Reference Mineral Price (HMA) level. Downstream products such as minted bars are subject to lower tariffs, while dore and ingots receive higher tariffs, to incentivize downstream gold production and maintain domestic gold supplies.
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