The Indonesia Commodity and Derivative Exchange (ICDX) will host the third Indonesia Tin Conference and Exhibition in Bali on Sept. 18-20. (JG screenshot)
Indonesia Commodity Exchange to Hold Third Tin Conference in September
BY :TABITA DIELA
AUGUST 18, 2016
Jakarta. The Indonesia Commodity and Derivative Exchange, known as the ICDX, will host the third Indonesia Tin Conference and Exhibition in Bali on Sept. 18-20 as part of efforts to promote sustainable mining and the country's own commodity exchange.
The event will be attended by 250 participants from 15 countries, who will join discussion forums on a variety of topics, including the global economic impact on commodity prices and the latest market trends in the tin industry.
"We've always been pushed by the stakeholders, including the government, to have a sustainable mining mechanism [...] We'll see [during the event] how a sustainable mining operation works, which will preserve our commodities for the next century," ICDX chief executive Megain Widjaja told the Jakarta Globe on Thursday (18/08).
The ICDX held the first similar event in Bangka Belitung province, one of the biggest global sources of tin, during March 2014. A second conference took place in Jakarta in September last year in order to introduce the ICDX to the broader public.
The bourse started operations in 2009, listing trading prices of tin and palm oil in an attempt to create new benchmarks and challenge the London Metal Exchange and Rotterdam, which set benchmark prices on the two commodities, respectively.
The ICDX saw an increase in physical tin trade volumes in 2013 after the Indonesian government ruled that the metal must be traded on a local bourse before being exported.
Megain, who is the grandson of Indonesian Sinar Mas Group patriarch Eka Tjipta Widjaja, said the ICDX will invite Trade Minister Enggartiasto Lukita and representatives of overseas bonded logistic center operators.
Indonesia is the world's second largest tin producer after China and provided around 40 percent of the global supply in 2015, according to ICDX data.