Jakarta, Aug. 12 -- State-owned mining holding company MIND ID expressed support for strengthening Bank Indonesia's (BI) foreign exchange reserves by optimizing domestic gold production and formalizing the mining sector.

Speaking at the MINDialogue conference in Jakarta on Wednesday, MIND ID President Director Maroef Sjamsoeddin highlighted gold's potential to strengthen national economic sovereignty amid global market fluctuations.

"Gold is a domestically produced commodity with the potential to become a strategic asset that can help strengthen the country's foreign exchange reserves," Maroef said.

To maximize domestic gold production, he outlined plans to formalize artisanal mining through People's Mining Permits (IPR), supported by ...