ASIATODAY.ID, JAKARTA — Indonesia is moving beyond its traditional role as a gold producer, accelerating efforts to build a fully integrated bullion ecosystem that connects mining, refining, financial services and investment markets.
The initiative reflects the government’s ambition to transform gold resources into greater economic value while positioning Indonesia as an emerging player in the global gold economy.
The Coordinating Ministry for Economic Affairs, in collaboration with the World Gold Council (WGC) and the Intergovernmental Forum on Mining, Minerals, Metals and Sustainable Development (IGF), recently organized Indonesia’s first Bullion Academy Training, focusing on global gold market developments and responsible artisanal and small-scale gold mining.
The program represents a strategic step in strengthening human resources, governance and market readiness to support Indonesia’s growing bullion ecosystem.
Turning Gold Resources into Financial Value
Indonesia’s gold potential provides a strong foundation for the development of a national bullion industry.
Based on estimates from the United States Geological Survey (USGS), Indonesia produced around 90 tonnes of gold in 2025, accounting for approximately 2.7% of global gold production. The country’s gold reserves are estimated at around 3,600 tonnes, representing about 5.5% of global reserves.
Since the launch of Indonesia’s bullion banking initiative by President Prabowo Subianto, the amount of gold managed within the national bullion ecosystem has reached 153.05 tonnes through PT Pegadaian and Bank Syariah Indonesia.
The development highlights Indonesia’s shift toward utilizing gold not only as a natural resource, but also as a strategic financial asset.
Building an Integrated Gold Value Chain
The government emphasized that a sustainable bullion ecosystem requires a strong connection between upstream production and downstream financial services.
The future of Indonesia’s bullion market depends on the availability of secure, responsible and formalized physical gold supplies. Strengthening governance in Artisanal and Small-Scale Gold Mining (ASGM) is therefore considered essential to ensure community-based gold production can enter formal markets as legitimate underlying assets.
Deputy for Coordination of State-Owned Enterprises Development at the Coordinating Ministry for Economic Affairs, Ferry Irawan, said Indonesia’s bullion vision requires integration across the entire value chain, including mining, refining, custody, trading, financing and investment products.
“Financial sectors provide pathways toward formal inclusion, but a resilient bullion market requires responsible physical gold supply,” Ferry said.
He emphasized that building a competitive bullion ecosystem requires not only regulatory frameworks, but also stronger institutional capacity, technical expertise and industry preparedness.
Creating New Opportunities in the Global Gold Market
The Bullion Academy Training brought together international experts to discuss global gold market trends, responsible sourcing standards and strategies to connect upstream gold production with formal financial infrastructure.
The initiative is expected to strengthen investor confidence by creating a more transparent and structured gold market while opening opportunities for innovative financial products backed by physical gold.
Through collaboration with international partners, Indonesia aims to establish a bullion ecosystem that is trusted, inclusive and globally competitive.
As global demand for gold continues to grow, Indonesia’s move to develop a comprehensive bullion ecosystem signals its ambition to become not only a major gold producer, but also a strategic player in Asia’s evolving gold economy. (AT Network)
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