- In an effort to ensure that mineral material requirements for domestic strategic industries are fulfilled, the Minister of Energy and Mineral Resources ("Minister") has issued Decree No. 296.K/MB.01/MEM.B/2023 ("Decree 296/2023"), which stipulates the various types of commodities that are classified critical minerals ("Critical Minerals") and which has been in force since 14 September 2023.
- A total of 47 forms of minerals that relate to relevant mining commodities (e.g. aluminum, antimony, barium and so forth) are comprehensively listed under the Appendix to Decree 296/2023. Meanwhile, minerals that fulfill the following criteria may be classified as Critical Minerals: 1) Minerals that will be utilized by nationally strategic industries; 2) Minerals that are considered valuable in relation to the national economy and state security; 3) Minerals that are characterized by a high risk of supply issues; and 4) Minerals for which no equivalent substitutes are available.
- The above-described determinations of Critical Minerals should serve as a reference for use by relevant government ministries, agencies and regional governments in line with their various jurisdictions during the establishment of policies and legal frameworks that address the utilization of relevant Critical Minerals. Moreover, the said determinations will apply for three years and may be reviewed at any time, as deemed necessary.
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