Prabowo Requests New Revenue from Mineral Sector, Nickel HPM Set to Rise

Jakarta, CNBC Indonesia - President of the Republic of Indonesia Prabowo Subianto has asked the Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia to seek new sources of revenue from the mineral sector. One possibility is by increasing the Mineral Reference Price (HPM) for commodities such as nickel.

Minister Bahlil stated that Prabowo emphasised that the interests of the state must be the top priority in managing natural resources, which are strategic national assets.

“The President has instructed me to pay attention to the interests of the state, with priority above all else. And we must safeguard our natural resources; these natural resources are assets of the state,” Bahlil said after a limited meeting with the President in Hambalang, Bogor, on Wednesday (25/3/2026).

In that context, the Ministry of ESDM has been tasked with finding new sources of revenue that have previously not been optimally beneficial to the state.

“The President also instructed us to seek sources of revenue in the mineral sector that have so far been unfair to the state,” Bahlil revealed.

One step under consideration is the adjustment of the Mineral Reference Price (HPM) for the nickel commodity, which has the potential to increase. “Most likely, I will raise the HPM for nickel,” Bahlil added.

Furthermore, Bahlil said the government’s targets include ensuring that downstream processing proceeds, the energy transition is implemented, and coal production continues to follow the balance of supply and demand with affordable prices.

According to him, the government desires an ideal condition where both prices and production are strong, but stressed that natural resources must not be sold cheaply while still maintaining a good market balance.

“We want the ideal situation where the prices are good and production is good. But if not, do not sell our goods cheaply. And supply and demand remain within a good corridor,” Bahlil said.