"The management of tin is not as good as that of the nickel industry where its utilization is encouraged by the government through the development of the electric vehicle battery industry," Suparwoto noted in a press release here on Wednesday.
Despite a regulation in place that dictates mineral and coal in the form of Energy and Mineral Resources Ministry Regulation No. 2 of 2018, its implementation is not yet optimal.
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He opined that despite the regulation already existing, its on-field implementation was deemed weak.
"This is marked by the prevalence of mining activities without permit, including those that are in the area under PT. Timah (state-owned tin metal producer)," he highlighted.
Beyond that, the DPR's Commission VII is targeting to increase the metal industry's gross domestic product (GDP), he remarked.
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In order to realize that goal, a good economic ecosystem from the standpoint of policies and laws is deemed necessary.
As earlier reported, the transaction value of domestic tin in the physical market in the Jakarta Futures Exchange (JFX) had reached Rp538 billion during the period from March to August 2021.
"From this value, the highest recorded transaction value within those six months was in August 2021, at Rp107.2 billion, with a transaction volume of 220 tons," President Director of JFX Staphanus Paulus Lumintang stated in a release on September 16.
Lumintang pointed to the growth in terms of the number of tons as well as the transaction value within the physical market of tin transacted at the JFX.
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