Indonesia Launches Mineral Exchange 'ICOMEX,' First Trading to Begin in January Next Year

[JAKARTA, Indonesia—Correspondent Aulia Maulida Hamdani] The Indonesian government will launch the Indonesia Commodity Exchange (ICOMEX), an exchange for minerals and strategic raw materials, on the 17th to improve the transparency and efficiency of related trading.
According to local media on the 16th, Mukhamad Misbakhun, chairman of Commission XI of the Indonesian House of Representatives, said at a meeting with the Financial Services Authority (OJK) the previous day that an ICOMEX launch ceremony was planned for the 17th. He emphasized, "To build trust among the market and the public, we must properly establish the exchange-related system in accordance with the law."
Accordingly, OJK plans to enact two regulations on the 17th, covering the transfer of supervisory and regulatory authority over the mineral and strategic raw materials exchange and the operation of the exchange. It plans to issue an operating license on January 1, 2027, and begin the first trades through ICOMEX on January 4.
Tin is the leading candidate for the first commodity traded on ICOMEX. Sargito, OJK's senior supervisor for the mineral and strategic raw materials exchange, explained that tin was selected as the initial commodity because it has long been traded on the Jakarta Futures Exchange (JFX). The exchange also expects trading activity and liquidity to increase through the participation of state-owned mining holding company Mining Industry Indonesia (MIND ID).
ICOMEX is expected to serve as official market infrastructure that provides legal certainty and price transparency for trading major minerals such as nickel while integrating the supply chain. The initiative aims to move beyond an economy centered on raw-material exports and build an industrial ecosystem that increases the added value of minerals.
[email protected] Correspondent Aulia Maulida Hamdani Reporter