[POPULER MONEY] Teten Highlights the Quiet Tanah Abang Market | Indonesia’s Nickel Reserves Will Run Out in 15 Years

[POPULER MONEY] Teten Highlights the Quiet Tanah Abang Market | Indonesia’s Nickel Reserves Will Run Out in 15 Years
[POPULER MONEY] Teten Highlights the Quiet Tanah Abang Market | Indonesia’s Nickel Reserves Will Run Out in 15 Years

1. Highlights the deserted Tanah Abang market, Teten: National products are losing…

Minister of Cooperatives and SMEs (Menkop-UKM) Teten Masduki highlighted the condition of Tanah Abang Market which was empty of traders.

Teten said that one of the reasons is that domestic products cannot compete with imported products which are sold cheaper on e-commerce and social commerce platforms.

“The offline market is like Tanah Abang’s death. Online MSME products cannot compete with imported products. 80 percent of online sellers sell imported products, especially from China,” said Teten to Kompas.com, Saturday (18/9/2023).

Teten said the government was a little late in regulating digital platforms such as e-commerce and social commerce.

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2. KPK Auctions 2.5 Kg Gold Confiscated from Former Unila Chancellor, Check Out the Price

The Corruption Eradication Commission (KPK) is auctioning off a package of gold with a total weight of 2,518 grams belonging to the bribe convict, former Chancellor of the University of Lampung (Unila), Karomani.

The package, which consists of 37 gold pieces of various weights, will be auctioned through the Jakarta III State Wealth and Auction Services Office (KPKNL) with closed bidding without the presence of auction participants (closed bidding).

“The Corruption Eradication Commission, through the Jakarta III KPKNL, will again conduct an auction of state confiscated goods as an effort to optimize asset recovery from confiscated goods confiscated by criminal acts of corruption,” wrote the KPK announcement, via the official X account, quoted Monday (18/9/2023).

Based on the KPK’s announcement, the limit price or initial bid for the gold auction weighing around 2.52 kilograms (kg) is IDR 2.18 billion, with a security deposit that must be deposited at IDR 1 billion.

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3. Indonesia’s Nickel Reserves are 5.3 Billion Tons, Will Run Out in 15 Years

The Ministry of Energy and Mineral Resources (ESDM) revealed that Indonesia’s nickel ore reserves currently reach 5.3 billion tonnes, with a potential of 17 billion tonnes.

Minister of Energy and Mineral Resources Arifin Tasrif said, with current production capacity, Indonesia’s nickel reserves can last up to 15 years.

“We now have reserves for nickel potential, and there is potential. Our reserves are 5.3 billion tons, now our potential is 17 billion tons,” said Arifin at the Ministry of Energy and Mineral Resources Office, Friday (15/9/2023).

Arifin stated, taking into account the existing conditions, production activities must be carried out in a measurable manner.

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4. There was a blackout, the electricity at Terminal 3 at Soekarno-Hatta Airport was normal

PT Angkasa Pura II (Persero) or AP II ensures that the electricity supply at Terminal 3 of Soekarno-Hatta Airport has returned to normal. This is related to the electricity outage at Terminal 3 that occurred.

Senior Manager Branch Communications & Legal at Soekarno-Hatta Airport, M Holik Muardi, said that there was a disruption in the electricity supply from Power Station 3 of Soekarno-Hatta Airport to Terminal 3 of the international area this morning.

“The relevant unit then restored the electricity supply to Terminal 3 in the international area, and now the electricity supply has been normal since 08.35 WIB,” he said in a written statement, Monday (18/9/2023).

He said that the only disruption to the electricity supply was at Terminal 3 in the international area. Meanwhile, electricity supply is normal in Terminal 1, Terminal 2 and Terminal 3 in the domestic area.

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5. PK Rejected by Supreme Court, Antam Must Replace 1.1 Tons of Gold Worth IDR 1.15 T to Conglomerate

The Supreme Court (MA) rejected the Judicial Review (PK) submitted by PT Aneka Tambang Tbk (ANTM) or Antam against the conglomerate from Surabaya, Budi Said.

With this decision, the cassation decision previously submitted by Budi Said has permanent legal force.

Antam had to pay compensation to Budi Said with 1,136 kilograms or 1.1 tons of gold bullion.

If we refer to Antam’s current gold price of IDR 1,015,600,000 per kilogram, the compensation value for 1.1 tons of gold is around IDR 1.15 trillion.

How did the case start? Listen here

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The article is in Indonesian

Tags: POPULER MONEY Teten Highlights Quiet Tanah Abang Market Indonesias Nickel Reserves Run Years


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