Indonesia's Gold Controversy: World's 4th Largest Reserves Still Imported from Singapore

INDONESIA, RBTVDISWAY.ID - INDONESIA has the fourth-largest gold reserves in the world, according to data from the U.S. Geological Survey, Mineral Commodity Summaries (USGS).

In contrast, Indonesia imports around 30 tons of gold from several countries, including Singapore.

Citing USGS data released in January 2025, Indonesia's total gold reserves reached 3,600 metric tons.

Indonesia's gold reserves even surpass those of Canada (3,200 metric tons), China (3,100 metric tons), and the United States (3,000 metric tons).

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According to USGS data, Australia and Russia hold the largest gold reserves in the world, with reserves reaching 12,000 metric tons. Followed by South Africa (5,000 metric tons). Not only reserves, Indonesia's gold production is also the 10th largest in the world, with production expected to reach 100 tons per year by 2023.

Currently, China holds the top spot, with production reaching 375 metric tons per year in 2023. Russia is followed by Russia with production reaching 313 metric tons per year.

Why Does Indonesia Still Import Gold?

PT Aneka Tambang Tbk (Antam) stated that it still has to import large amounts of gold to meet domestic demand.

This is because, out of a total demand of tens of tons, the company only produces 1 ton per year.

Antam's President Director, Achmad Ardianto, stated that public demand for gold continues to increase. Last year, gold sales reached 37 tons, and this year's target is to reach 45 tons.

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The problem, Achmad Ardianto said, is that Antam's sole mine, currently located in Pongkor, West Java, only produces 1 ton per year.

"So, Antam only produces 1 ton of gold annually. Meanwhile, public demand last year was 37 tons, now it's 43 tons," said Achmad Ardianto.

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