pt. sumitomo indonesia

pt. sumitomo indonesia

SUMITOMO CORPORATION ENTERS STRATEGIC PARTNERSHIP WITH AND INVESTS IN LIPPO GROUPS LAST MILE DELIVERY OPERATIONS

Cooperative Relationship with Hankyu Realty on Condominium Project Pursued Together with Sentul City in Indonesia

Based in Jakarta, PT Sumitomo Indonesia has grown as an integrated business enterprise with Indonesia economy since 1999. Our core function trading activities handle a broad range of products from various trade sectors throughout our five core business units. PT Sumitomo Indonesia is a leading trading company (so-called "Sogo Shosha"). We are an integral member of Sumitomo Corporation Group, headquartered in Japan, a key player in the global exchange of goods, service and technology, which owns a global network of multi-faceted subsidiaries. Consequently, PT Sumitomo Indonesia is also supported by Sumitomo Corporation Group global network which comprises of more than 800 group companies from 133 locations in 67 countries.

indonesia central bank expects rupiah trading at 14,200-14,600 this year - markets - business recorder

indonesia central bank expects rupiah trading at 14,200-14,600 this year - markets - business recorder

JAKARTA: Indonesia's central bank expects the rupiah to trade on average between 14,200 to 14,600 a dollar for the remainder of the year, and 14,100 to 14,500 a dollar in 2022, Governor Perry Warjiyo told parliament on Monday.

The governor said the forecast already took into account potential tightening next year of US monetary policy, which may include the Federal Reserve tapering its bond buying programme or rate hikes that could prompt capital outflows. The rupiah traded at 14,275 at 0805 GMT.

top 10 biggest gold mining companies in the world 2021 - precious metal info

top 10 biggest gold mining companies in the world 2021 - precious metal info

By next year, the industry may feel a little outdated and the third-world mining camps and industrial pollution is doing little to amend that reputation, but the business of gold mining is as essential to the global economy as it has ever been.

The largest gold mining companies in the world are based, generally, in places where there have been successful mining operations previously, such as in the American West, South Africa and Australia. Because there is no conclusive way to determine where the next gold strike will occur, operations can be in several locations with a plurality in Indonesia, West Africa and South America.

Overhead can be onerous for gold mining companies so illiquid assets are common. The cost of doing business is burdensome when an industry does not respect national borders. Therefore, gold mining companies often work in parts of the world where corruption is common, and allegations of international law violations are not uncommon.

We would be remiss not to point out that every company we review in this article has some sort ofenvironmentally friendly initiative that runs counter to the claims of environmental damage from poor governments who seek to make money off fines. Veracity is problematic on both ends.

It can take a new gold mine years to get into production and decades longer to become profitable. For a gold mining company to grow, it must either invest for years in a new mine, buy a smaller mining company with a promising mine or contribute capital to be cut in on the profits of an operation already being run by another mining company.

It's not difficult to invest in gold. Shares in gold mining companies can be purchased on most major trading platforms or in a mutual fund, depending on the products offered by your financial institution.

To present to you accurate summaries of the top 10 gold mining companies, we did our homework. We reviewed media coverage of the mining and metals industry, gathered information available from regulatory bodies and analyzed data furnished by national governments. Additionally, we studied media coverage alleging improper business conduct on the part of mining operations and studies conducted by Human Rights Watch and the United Nations.

We paid special attention to allegations of environmental and human rights crimes, stock prices over the last five years, forecasts for 2019 and any major developments in active mines or the acquisition of active mines.

Barrick Gold Corporation isthelargest gold mining company in the world, although its status is far from assured going forward. The company is headquartered in Toronto and operates mines in Canada, the United States, the Dominican Republic, Argentina, Peru, Papua New Guinea and Chile.

Despite some far-flung operations, Barrick makes the vast majority of its revenue in the Americas. Barrick recently agreed to a lucrative mutual investment with the Chinese mining giant Shandong Gold in an effort to retain its premier status.

The company's all-in sustaining cost margins have eclipsed those of Barrick. Despite a recent pullback in share prices, projections for growth insinuate Newmont will be the industry leader in short order.

Aside from Newmont, the Johannesburg-based mining company AngloGold Ashanti represents Barrick's strongest competition for the top spot in the industry. The company has operations in Argentina, Brazil, Colombia, South Africa, Tanzania, Ghana, Guinea, Mali, the Democratic Republic of Congo and a few remote islands in the South Pacific. Modest growth projections suggest Newmont is stronger competition for Barrick, but AngloGold Ashanti is a nascent uptrend that should hold through 2019.

The Kinross Gold Corporation is a mining company with its headquarters in Toronto and active mines in the United States, Brazil, Ghana, Mauritania and Russia. Historically, the company has expanded by conducting mergers and acquisitions to grow in new markets. That has informed projections for substantial growth in 2019 alongside their successful extant projects.

Goldcorp is one of the largest gold mining companies in Canada, with a headquarters in Vancouver and operations in Canada, Mexico, Honduras, Guatemala and the Dominican Republic. The company has a strong reputation as an environmentally responsible operator and a fair employer with the Canadian reputation.

The company has faced a number of legal issues, but has yet to be proven to be at fault for any major infraction common among gold mining companies. The last five years have been difficult for Goldcorp but projections for 2019 are good.

Although Newcrest Mining Limited was founded in New York, it is now among the largest gold mining companies out of Australia. The company's mines are concentrated in Australia, with ancillary operations in Papua New Guinea, Indonesia and the Ivory Coast.

The company's second-most profitable revenue stream behind gold is copper, which Newcrest mines across the company's home country. In 2010, Newcrest merged with Lihir Gold, one of the largest Indonesian gold mining companies, to become a more competitive force in the industry.

The firm's all-in sustaining costs are the worst among the companies reviewed for this article. Polyus has overcome those costs to fuel massive increases in share price over the course of 2015 and 2016, after which the price stabilized.

Gold Fields Limited is the second-largest of South Africa's gold mining companies. The company is headquartered in Johannesburg, and it has active operations in South Africa, Ghana, Australia and Peru.

Gold Fields has historically relied on acquisitions to expand the company's presence in regions where it is already active. The company runs a very efficient operation in terms of all-in sustaining cost compared to the largest gold mining companies in the world.

Agnico Eagle Mines Limited is one of the largest gold mining companies in Canada. Its headquarters are in Toronto and it has operations in Canada, Mexico and Finland. Despite a hit to share prices early in 2018, the company's share value has climbed by 18 percent since 2014. Its share price also beat third quarter earnings and revenue expectations to maintain the company's long-term uptrend.

Freeport-McMoRan is the largest of Arizona's gold mining companies. The firm operates primarily in the American West but it also has active mines in Chile, Peru, Spain and Indonesia. The company's gold business lags behindits performance in molybdenum and copper production.

In the last five years, Freeport-McMoRan's share price is down nearly 70%, but projects are in the works to put the company back on track. As of the third quarter of 2018, the company is on a nascent uptrend.

Among these companies, it is most likely Newmont will overtake Barrick in 2019 as the largest gold mining outfit on the planet and a share price to reflect its achievement. That being said, it is hard to bet against a company with the track record of a firm like Barrick, especially when you consider its new partnership with Shandong Gold.

The only other firm with a realistic shot at overtaking the reigning champion is AngloGold Ashanti, which, admittedly, does not have as strong a chance as Newmont. If the heavyweights are too thick for your blood, consider investing in Agnico Eagle or Freeport-McMoRan, dark horse companies with strong projections. No matter what, do not miss out on the gold market in 2019.

indonesia plans to tax crypto trading

indonesia plans to tax crypto trading

The Southeast Asian country of Indonesia considers a plan to tax trading with digital assets. However, a spokesman from the tax office revealed that the proposed scheme was still at the discussion stage, and no changes have yet been applied.

The biggest economy in Southeast Asia Indonesia saw a massive increase in crypto users in the past months. Following the recent rally of most digital assets, local residents of the country turned their sight to them. According to a report, Indodax the largest crypto exchange platform in Indonesia registered more than 700 000 new members only for the first four months of 2021 as the total number rose to three million people.

However, Reuters reported that the countrys officials are contemplating a plan to tax trading with Bitcoin and all altcoins. Neilmaldrin Noor, a spokesman at Indonesias tax office, asserted that the future implementations were still at the discussion phase, and no changes have yet been administered. Additionally, he explained that taxation is vital for the economy:

It is important to know that if there is a profit or capital gain generated from a transaction, the profit is an object of income tax. So the tax payer who receives capital gain has to pay the tax and report it.

Indonesia has a very controversial relationship with cryptocurrencies. The authorities of the country banned the use of digital assets as a payment instrument, but on the other hand, residents are allowed to trade with them as a commodity.

The authorities are reportedly looking to place a 20% tax on profits made from cryptocurrency trading at the start of next year. The Finance Minister of the East Asian country asserted that such rules are inevitable to start from 2022.

Somewhat surprisingly, most residents of South Korea approved the incoming implementations. A survey revealed that around 54% of the poll participants backed the countrys tax addition. Moreover, older Koreans were significantly more open to the idea comparing to the younger generation.

Dimitar got interested in cryptocurrencies back in 2018 amid the prolonged bear market. His biggest passion in the field is Bitcoin and he was fascinated with its journey. With a flair for producing high-quality content, he started covering the cryptocurrency space in late 2018. His hobby is football.

10 tempat trading bitcoin terbaik 2021 di indonesia cryptoharian

10 tempat trading bitcoin terbaik 2021 di indonesia cryptoharian

Probit mempunyai keamanan yang sangat super. Kenapa? Karena mereka menyimpan 95 persen koin mereka dengan cara cold storage. Artinya, wallet tersebut tidak terhubung dengan internet dan hacker tidak bisa mencuri uang crypto anda.

Selain itu, jika Anda menggunakan token BNB asli mereka saat berdagang, Anda dapat memiliki diskon hingga 50% dalam biaya perdagangan Anda, yang merupakan jumlah yang besar jika Anda ingin menjadi pedagang crypto penuh waktu.

Saya sangat suka dengan pertukaran koin yang satu ini karena semua koin yang terdaftar disini adalah ERC-2O atau berbasis Ethereum.Ada sekitar 200 cryptocurrency yang terdaftar dalam exchange satu ini.

indonesia considers levying tax on crypto profits - coindesk

indonesia considers levying tax on crypto profits - coindesk

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

trading company - pt. indonesia ds indah karya

trading company - pt. indonesia ds indah karya

DS Trading Co.is a multi partnership Company which was founded in 1993. we started the business as a Trading Company for several Foreign Investment Companies in Indonesia and a Mining Company Supplier in year 2001.

Cutting tools, machine tools and accessories,material handling and equipments, electric and pneumatic power tools, measuring tools (analog and digital), below are some of the products we supply regularly.

9 exchanges to buy crypto & bitcoin in indonesia (2021)

9 exchanges to buy crypto & bitcoin in indonesia (2021)

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

eToro is a trading platform and crypto exchange. It supports Bitcoin, Ethereum, Litecoin, Zcash and many other coins. Deposits can be made quickly via bank transfer, SEPA, NETELLER, PayPal and more. It also offers unique features like copy trading. This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

Luno is a universal Bitcoin platform that provides secure exchanges where people can buy/sell Bitcoin. Luno offers a unique fee structure for traders in Indonesia. Makers are rewarded a +0.2% bonus on a trade, while takers are charged -0.2%. Hence, traders are incentivised to bring their orders to Luno.

Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase. Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee. Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.

Paybis is a popular cryptocurrency exchange. They serve 180 countries and 48 US states and are registered with FinCEN, making them a more trusted, regulated exchange. Paybis offers incredibly high limits and super fast payouts, not to mention 5 minute ID verification and nearly perfect review scores on Trustpilot.

You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.

Indonesia has been known for cracking down on cryptocurrencies such as Bitcoin thanks to the retaliatory stance of Bank Indonesia, the countrys central bank. Bank Indonesia has been apprehensive of Bitcoin for several years now, but that hasnt discouraged adoption of the cryptocurrency in the country.

A report suggests that the number of Bitcoin users in Indonesia shot up more than three-fold from 80,000 to 250,000 in 2017, clocking daily transaction volumes of $1.48 million. Thats despite the fact that Bank Indonesia has banned Bitcoin as a means of payment in the country, and it doesnt plan to lift the ban either despite a recent regulation that could give cryptocurrencies some sort of legitimacy in the country.

However, recent data suggests that Bitcoin trading volumes on peer-to-peer exchange LocalBitcoins has increased big time, which means that people are still interested in the digital currency. If you are in Indonesia and want to buy Bitcoin, refer to our handy guide on Bitcoin exchanges in Indonesia.

There are quite a few options that you can tap to buy Bitcoins in the country, though you need to see which one fits your need the best depending on transaction fees, verification requirements, withdrawal limits, payment options, and security. However, some exchanges might require you to get a wallet before you can buy Bitcoin for storing the cryptocurrency.

Some people also get a wallet on their own for security reasons. In case you dont have a Bitcoin wallet, read our guide on the Best Bitcoin & Cryptocurrency Wallets. Once you have a wallet, you can start buying Bitcoin from an exchange of your choice and store the tokens in the wallet.

As far as spending Bitcoin in Indonesia is concerned, there isnt any option available given the central banks directive. So Bitcoin holders in Indonesia either use the currency as a means of investment or for making payments internationally.

Therefore, Indonesia isnt a pro-Bitcoin market yet, despite recent measures to legitimize futures trading of cryptocurrencies. As long as Bank Indonesia doesnt remove its ban on using Bitcoin as a method of payment, its adoption will remain hindered.

This ad promotes virtual cryptocurrency investing within the EU (by eToro Europe Ltd. and eToro UK Ltd.) & USA (by eToro USA LLC); which is highly volatile, unregulated in most EU countries, no EU protections & not supervised by the EU regulatory framework. Investments are subject to market risk, including the loss of principal.

Ethereum (ETH) has established itself as the second most popular digital currency, after Bitcoin. Its smart contract features allow unique apps to be built on top of its platform. Below you will find exchanges in Indonesia that allow you to buy ethereum. Once you buy, you should withdrawal your ETH directly to your own crypto wallet.

Thanks to Tesla founder Elon Musk, Dogecoin (DOGE)a coin that started as a meme about the shiba inu doghas recently become a popular digital currency. Below you can find crypto exchanges in Canada that allow you purchase Dogecoin.

About Dogecoin: Dogecoin has become one of the most famous altcoin blockchains. Dogecoin was founded by Jackson Palmer and Billy Markus on December 6, 2013. Thanks to its popularity on Robinhood, it hit an all time high of $0.42 on April 20. Doge started the year at under $0.01 USD. It is an open source blockchain, meaning its code is publicly available for anyone to see.

There have been no exchange hacks in Indonesia's history with cryptocurrency. That is most likely because Indonesia is so quick to shut anyone down who is attempting to sell cryptocurrencies or faciliate their trade. If exchanges aren't allowed, there are no exchanges for anyone to hack.

Interestingly, Indonesia (along with the US, Nigeria, and Vietnam) suffers from some of the highest victim rates in the world when it comes to crypto scams. That is according to data from Harry Denley of MyCrypto of London, England.

[We] found that lots of wallet addresses were single-use addresses that funnelled funds to a larger consolidation of addresses. Some of these hold more than $100,000. In fact, 34 percent of the stolen funds analyzed went to just one address, which holds around $150,000. By analysing network data, Denley found that 14 percent of victims were in Nigeria; 11 percent in Indonesia; 9 percent percent in the US, and 8 percent in Vietnam.

LocalBitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. LocalBitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.

Jordan Tuwiner is the founder of BuyBitcoinWorldwide.com. His work has been featured in The Guardian, International Business Times, Forbes, VentureBeat, CoinDesk and many other top Bitcoin media outlets. His articles are read by millions of people each year looking for the best way to buy Bitcoin and crypto in their country.

He has also written extensively about the history, technology, and business of the crypto world. Jordan is also the creator of some of the internet's most famous Bitcoin pages, including The Quotable Satoshi and Bitcoin Obituaries.

Disclaimer: Buy Bitcoin Worldwide is not offering, promoting, or encouraging the purchase, sale, or trade of any security or commodity. Buy Bitcoin Worldwide is for educational purposes only. Every visitor to Buy Bitcoin Worldwide should consult a professional financial advisor before engaging in such practices. Buy Bitcoin Worldwide, nor any of its owners, employees or agents, are licensed broker-dealers, investment advisers, or hold any relevant distinction or title with respect to investing. Buy Bitcoin Worldwide does not promote, facilitate or engage in futures, options contracts or any other form of derivatives trading.

Buy Bitcoin Worldwide does not offer legal advice. Any such advice should be sought independently of visiting Buy Bitcoin Worldwide. Only a legal professional can offer legal advice and Buy Bitcoin Worldwide offers no such advice with respect to the contents of its website.

indonesia mulls tax on crypto trading - beincrypto

indonesia mulls tax on crypto trading - beincrypto

Despite the surge, crypto trading is not new to the Southeast Asian nation. In 2019 Indonesia ranked third in the world for cryptocurrency ownership. Although the country no longer holds that position, these recent legislative considerations show crypto as a popular avenue among Indonesian investors.

The official tax scheme is still in the discussion stages. Neilmaldrin Noor, a representative from the Indonesian tax office told Reuters, It is important to know that if there is a profit or capital gain generated from a transaction, the profit is an object of income tax.

While not set in stone, the proposed tax on crypto trading would amount to a final tax of 0.05%. This is lower than the 0.1%currently imposed on stock investors on the Indonesia Stock Exchange (IDX), according to CNBC Indonesia.

Despite the ongoing boom in crypto prices and ever-increasing use cases for cryptocurrencies, Indonesia continues to ban the use of cryptocurrencies as a form of payment for transactions. Investors within the country can only interact with digital currencies as a traded commodity.

South Korea intends to roll out a capital gains tax on crypto in 2022. The tax proposition did see a number of petitions and opposition towards the impending taxation scheme. However, polls now show a majority are in support of the tax. The tax imposes a 20% capital gains tax on crypto transactions greater than 50 million won.

In the U.S., the Internal Revenue Service (IRS) recently refined the rules on cryptocurrency taxation. The new information clarifies questions on what taxpayers must claim in terms of digital assets. As non-fungible tokens (NFT) continue to increase in popularity, those involved in the buying and selling will also have to navigate tax implications on their holdings.

Savannah Fortis is a multimedia journalist covering stories at the intersection culture, international relations, and technology. Through her travels she was introduced to the crypto-community back in 2017 and has been interacting with the space since.

indonesian gold market - gold university - bullionstar

indonesian gold market - gold university - bullionstar

Buy & Store bullion with BullionStar in multiple countries! Select desired country in the location dropdown to view bullion available for sale in that country. For more information about buying and storing bullion with BullionStar in New Zealand, click here.

Indonesia has the distinction of possessing the largest gold mine in the world, the giant Grasberg gold mine located in the countrys eastern Papua province. As a large commodity producing and exporting nation, it is not surprising that Indonesia also hosts 2 commodity exchanges, both of which list gold futures contracts.With Asias third largest population (250 million), behind China and India, Indonesia has a vibrant physical gold market with an internationally recognised gold refinery, a large gold jewellery sector and wide availability of retail investment gold bar products. Many of Indonesias gold market participants are located in the countrys capital city, Jakarta, 2 hours flight time from Singapore.

The JFX, known as PT Bursa Berjangka Jakarta (BBJ) in Indonesian, is located in Jakarta, Indonesias capital city. The JFX opened in 2000 and listed its first gold futures contract in 2001[3]. The Exchange also lists futures on cocoa, coffee and olein (palm oil). Members of the JFX comprise trader members, broker members and founding JFX shareholders. The JFX clearing house is named PT Kliring Berjangka Indonesia (Persero) or PT KBI, and in English its known as the Indonesian Derivatives Clearing House (IDCH)[4].

The ICDX, also located in Jakarta, was established in 2009[5], and lists futures contracts on gold, tin, crude palm oil, and palm olein. Similar to the JFX, members of ICDX are traders and brokers. ICDX trades are settled and cleared via the Indonesia Clearing House (ICH)[6]. Many of the trader and broker members of ICDX are also clearing members of ICH.

In Indonesia, commodity futures trading is regulated by the Commodity Futures Trading Act (COFTRA) and supervised by the State futures trading regulatory agency, which is known as BAPPEBTI. Both JFX and ICDX are members of the Association of Futures Markets[7].

The Gold 250 gram futures (GOL 250)[9] and the Gold 100 gram futures (GOL 100)[10] have similar contract specifications to thekilo contract (GOL), the main differences being contract lot size. The 250 gram contract has a 4 lot minimum delivery (i.e. 1 kg), while the 100 gram contract has a minimum delivery of 10 lots (i.e. also 1 kg). Reportable Positions and Position Limits also differ across the three contracts.

These contracts are named Gold Rolling[12], Gold 100oz US Dollars (USD) rolling (GU1H10), Gold 10oz USD Rolling (GU1TF), Gold 100oz Fixed USD Rolling, and Gold Index (KIE). Gold Index uses one of the Rolling contracts in its denominator.

GOLDGR[14]: Quoted in Indonesian Rupee (IDR), 100 gram contract size, 9999 fine. Cash-settled or physical settlement. For physical delivery, the seller submits a certificate of gold deposit to the ICDXs clearing house. This contract has delivery points of PT Antam Tbk, and UBPP Logam Mulia. Launched November 2009.

PAMPGRID[17]: Quoted in IDR, 100 grams contract size. Open positions at close of spot month are settled in the form of a certificate for a 100g Swiss PAMP bar. Exchange for Physical possible before close of spot month. The certificate is issued by the PAMP authorized distributor appointed by the Exchange, which is Straits Bullion. Launched February 2014.

UBSG: UBS Gold Contract[19]: Quoted in IDR, physically deliverable, 100 grams contract size, 9999 fine, underlying UBS Gold. Launched March 2015[20]. The contract delivery takes the form of a Certificate of UBS Gold Holding. Deliverable in approved UBS stores in Jakarta and Surabaya. This UBS is unrelated to the Swiss bank UBS. UBS here refers to the Indonesian jewellery company PT UntungBersamaSejahtera (PT UBS)[21], which offers small minted gold bars with the UBS logo (from 100 grams down to 5 grams), produced by the Logan Mulia refinery.

Logam Mulia, located in Jakarta, is the only major gold and silver refinery in Indonesia[22]. Logam Mulia has a gold refining capacity of approximately 100 tonnes per annum (of which about 60% of capacity is used), and a silver refining capacity of 350 tonnes per annum. The refinery has been accredited to theLondon Bullion Market Associations (LBMA) Good Delivery List for gold.

Logam Mulia is a subsidiary of state-owned company PT Aneka Tambang (PT ANTAM)[23] which is a vertically integrated mineral exploration, extraction, refining, and metals producing company focused on nickel, gold, silver, and bauxite. Logam Mulia mainly refines gold mining dor from ANTAMs own gold mining output and that of other gold producers in Indonesia. Since ANTAM produces about 5 tonnes of gold per annum, most of the refinerys gold throughput is conducted on behalf of other Indonesian gold mining companies. The refinerys gold is sold both domestically and internationally.

The majority of Indonesias gold mining output comes from the giant Grasberg copper and gold mine. Grasberg, ranked as the largest gold mine in the world, is located in the eastern Indonesian province of Papua, and is majority owned by US listed miner Freeport McMoran. Grasberg is mined via both open pit and deep shaft mining. Freeport expects gold output from Grasberg to be 1.3 million ozs in 2015 (40 tonnes)[26].

According to the World Gold Council[29], Indonesian gold bar and coin demand in 2015 totalled 20.1 tonnes. The Logam Mulia refinery manufactures a variety of gold bars and has 11 retail outlets in 9 locations across Indonesia (2 retail outlets in Jakarta, 2 in Sarabaya, and 1 each in 7 other locations)[30]. Straits Bullion in Jakarta is the (exclusive) PAMP distributor for Indonesia[31].

Asosiasi Pengusaha Emas & Permata Indonesia (APEPI)[33], known in English as the Indonesian Goldsmiths and Jewelers Association, is an industry body which represents the Indonesian gold fabrication and jewellery sectors, and which organises promotional events such as the Indonesia jewellery Fair[34].

During 2015, authorities in India became concerned that a spike in gold jewellery imports from Indonesia represented gold transactions designed to evade Indian import duty. India has a Free Trade Agreement (FTA) in goods with the 10 country member ASEAN organisation under which gold jewellery imported into India from ASEAN countries only attracts a 2% import duty compared to a 10% duty on gold bar imports into India. To qualify for the 2% gold jewellery import duty, value-added needs to be at least 20% for local gold in ASEAn countries and 25% for gold from 3rd countries. Indian authorities, probably rightly so, were worried that Indonesian customs certificates had not done the appropriate due diligence on the source of the gold used in jewellery exports from Indonesia to India, and that the gold was being melted down again in India after being imported through the popular hubs of Mumbai, Bangalore etc.[35].

Indonesia has a dynamic but often overlooked Asian gold market, since its overshadowed by the gold hub of neighbouring Singapore and the larger physical gold markets of India, China, Thailand and Vietnam. However Indonesias gold market stretches from upstream production, all the way through refining and exchange-based financial intermediation to downstream retail distribution and gold exports, and so represents a truly active domestic gold market, as well as a gold export source. With the third largest population in Asia, and a growing middle-class, the Indonesian gold market is certainly worth watching in future.

35.^ Surge in gold jewellery from Indonesia alarms India, Business Standard, September 2015, http://www.business-standard.com/article/economy-policy/surge-in-gold-jewellery-from-indonesia-alarms-india-1 _1.html

Copyright Information: BullionStar permits you to copy and publicize articles or information from the BullionStar Gold University provided that a link to the article's URL or to https://bullionstar.com is included in your introduction of the article or blog post together with the name BullionStar. The link must be target="_blank" without re="nofollow". All other rights are reserved. BullionStar reserves the right to withdraw the permission to copy content for any or all websites at any time.

indonesia coal trade system: a knowledge-based application software - sciencedirect

indonesia coal trade system: a knowledge-based application software - sciencedirect

Performing coal trading in Indonesia is not simple. Many new comers in coal industry have been fallen down for many reasons. Some coal player collapse by fraudulent and some other fallen down by lack of knowledge in coal trading. To overcome this situation, a solution has proposed. The solution is by developing a web based application software for coal trading named Indonesia Coal Trade System (ICTS).

The method in Software Development Life Cycle of ICTS is Joint Application Design by using prototyping. The software designed using UML and its CASE tools. It is smartphone friendly to support field engineers while in duty, and it will utilize phone's GPS and camera to collect important data.

ICTS is an application that is not only data recording and processing of coal trading, but it also a workflow application developed by experts in coal trading. They transfer their tacit knowledge into software to guide users in coal trading in Indonesia. ICTS will reduce the chance of coal traders from fraudulent and it can lead companies to legal transactions.

cryptocurrency in indonesia | coinmarketcap

cryptocurrency in indonesia | coinmarketcap

As cryptocurrencies become more prevalent globally, different countries are still honing their individual approaches to crypto regulation and oversight. Indonesia is among those countries to have evolved a relatively well-defined stance towards crypto assets and is considered reasonably open to blockchain technology. Despite initial hesitance, new regulations have paved the way for citizens to invest in and trade crypto.

Indonesia recently made headlines in the crypto space when the government revealed its plans to introduce a crypto tax for traders. Indonesia is also home to several crypto exchanges, including Indodax and the Binance-backed platform Tokocrypto.

Yes, cryptocurrency is legal in Indonesia. Cryptocurrencies were legalized in September 2018, when the Ministry of Trade approved the trading of Bitcoin (BTC) and crypto assets as commodities. The Futures Exchange Supervisory Board (Bappebti) is in charge of cryptocurrency and blockchain regulation in the country.

In 2020, crypto exchange registration requirements came into force in Indonesia, following Bappebti's legal framework for crypto assets that had been initiated the previous year. The agency justified the measure by citing the need to protect Indonesian traders from fraudulent platforms.

Although cryptocurrencies are legal in Indonesia, there are still major hurdles for crypto organizations and the local crypto community. The central bank of Indonesia does not recognize cryptocurrency as a means of payment, which presents a major problem for widespread crypto adoption. Moreover, many banks are reluctant to open accounts related to crypto trading and there is still a lot of misinformation circulating regarding the nature of cryptocurrencies.

There are no taxes in Indonesia for those that trade cryptocurrency; for the time being, only crypto-related businesses, such as exchanges, pay taxes in accordance with current regulations. However, Indonesia is now considering plans to introduce a crypto tax, due to its growing popularity.

The current status of cryptocurrency as a commodity in Indonesia has limited the adoption of cryptocurrency by merchants. However, a limited selection of businesses are starting to accept crypto payments, among them:

There are some who anticipate that the government will eventually change the classification of cryptocurrencies from commodities to digital assets. This would hasten the adoption of cryptocurrency as a form of payment by merchants.

The legal status of cryptocurrency means that Indonesians can buy crypto assets on any registered exchange. Here are some of the platforms you can use to buy Bitcoin and other cryptocurrencies in Indonesia:

TokoCrypto: TokoCrypto is an exchange that advertises itself as one of the easiest-to-use platforms for crypto traders in Indonesia. It is backed by Binance and offers a fiat on-ramp that allows users to convert between Indonesia rupiah and supported cryptocurrencies.

Binance: Although Binance is not registered with Bappebti, Indonesian citizens can still access the popular crypto exchange. Binance offers a wide range of features that include buying, trading and staking cryptocurrencies.

Bitcoin ATMs: As of May 2021, Indonesia has only one Bitcoin ATM, which is located in the country's capital, Jakarta. However, it is important to note that using a Bitcoin ATM involves high transaction fees of roughly 5-10%.

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