Home ECONOMY Ministry of Energy and Mineral Resources Issues Critical Mineral Classification Rules

Ministry of Energy and Mineral Resources Issues Critical Mineral Classification Rules

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Ministry of Energy and Mineral Resources Issues Critical Mineral Classification Rules

JAKARTA, Timerilis.com – The Ministry of Energy and Mineral Resources (ESDM) issued Ministerial Decree (Kepmen) Number 296.K / MB.01 / MEM.B / 2023 concerning the Determination of Commodity Types Included in the Classification of Critical Minerals.

These critical minerals must be monitored more strictly with this regulation to maintain reserves and the strength of these minerals.

“We must make critical minerals (rules), if we don’t make the rules, they can escape everywhere,” said Minister of Energy and Mineral Resources Arifin Tasrif at the Ministry of Energy and Mineral Resources, Friday (9/6/2023).

Rare Earth Metals (LTJ) are included in the classification of critical minerals, to maintain domestic reserves and prevent illegal sales abroad. They will be needed for nuclear and radioactive energy.

“That’s why we have to secure it because we need it (for) radioactive energy for future energy purposes, so we must secure it. If not, we will end up importing all finished goods, because they come out as sand,” he explained.

The criteria for critical minerals include minerals that are raw materials in national strategic industries, have beneficial values for the economy, have a high risk to supply, and do not have a feasible substitute.

“Critical minerals are minerals that have important uses for the national economy and national security defense which have the potential for supply disruptions and have no feasible substitute,” wrote the regulation, quoted on Wednesday (20/9/2023).

The decision for types of commodities categorized as critical minerals are determined for three years and can be reviewed annually or at any time if necessary.