Indonesia's 2023 Mineral Production Falls Short of Targets, from Gold to Nickel

According to the Directorate General of Minerals and Coal (Ditjen Minerba) of the Ministry of Energy and Mineral Resources (ESDM), Indonesia's domestic mineral production in 2023 fell short of its targets.

This shortfall occurred in gold, silver, tin, and nickel (nickel matte and ferronickel) commodities.

Throughout 2023, Indonesia's gold production reached only 83 tons, against a target of 106 tons.

Silver production amounted to 348.6 tons, compared to a target of 489 tons, and tin production reached 67,600 tons against a target of 70,000 tons.

Nickel matte production was 71,400 tons, short of the 75,000-ton target, while ferronickel production reached 535,200 tons, against a target of 628,900 tons.

Production figures for other mineral commodities such as copper cathodes, nickel pig iron (NPI), chemical grade alumina (CGA), and smelter grade alumina (SGA) have yet to be reported.

"These minerals (which have not yet been reported) are produced by holders of special operational production mining business licenses (IUP OP) for processing and refining, in accordance with Law Number 3 of 2020," said Bambang Suswanto, Director General of Minerba at the Ministry of ESDM, in a press conference on Tuesday (January 16, 2024).

He explained that the IUP OP specifically for processing and refining falls under the authority of the Ministry of Industry.

The Ditjen Minerba has not yet set production targets for minerals in 2024, as it is still compiling data on the work plans and budget (RKAB) of the relevant mining companies.

(See also: Indonesia's Gold Reserves to Last 31 More Years, Other Minerals Longer)