22 Strategic Minerals Now Set: Highlights on Implications of Mineral Downstreaming

In a further effort to optimize domestic mineral downstreaming in order to develop strategic industries (“ Downstreaming Optimization ”), the Minister of Energy and Mineral Resources (“ Minister ”) has issued Decree No. 69.K/MB.01/MEM.B/2024 on the Stipulation of Types of Commodities Classified as Strategic Minerals (“ Decree 69/2024 ”), which has been in force since 1 April 2024. ^[1] At its core, the aforementioned strategic minerals comprise minerals that have strategic value and that will serve as raw materials for Downstreaming Optimization with the ultimate goal of improving the country’s competitiveness in global trade, as well as boosting state revenue and the national economy. [2]