US Access to Critical Minerals: Prabowo Ensures Not Raw Products and Maintains Market Prices
Bisnis.com, JAKARTA — President Prabowo Subianto has assured that the opening of export access to the United States (US) for critical minerals will not be in the form of raw goods, thus not violating the downstreaming commitment.
It should be noted that the opening of Indonesia’s critical minerals access to the US is one of the clauses in the trade agreement between the two countries, which was officially signed in February 2026.
Nevertheless, Prabowo stated that the openness to investment cooperation remains within the corridor of national interests. He said that investments entering Indonesia, including from the US, must follow the applicable rules, including in the management of natural resources (SDA).
Prabowo also emphasised the importance of applying international market prices in the management of critical minerals. He stated that access is not closed to foreign parties as long as they comply with the provisions set by the government.
“Regarding critical minerals. I have said, we are open. But everything at market price. At economic price,” Prabowo said in an interview in Hambalang, Bogor, West Java, quoted on Sunday (22/3/2026).
Prabowo noted that the involvement of foreign parties in Indonesia’s mining sector is not new. He cited Freeport-McMoRan, which has long been granted permission to operate in Indonesia.
“So if they want to follow (the rules), we allow them to mine at Freeport. It has been decades. Freeport now generates one of our largest revenues. We allow it,” he explained.
The Head of State also stressed that the ban on exporting raw natural resources remains a primary condition. He said Indonesia does not permit the export of raw materials without processing in the country.
“Raw materials, we ask to be processed. If they want to mine and process here, of course,” Prabowo asserted.
He also reiterated that critical minerals are a commodity that must provide maximum economic value for Indonesia.
“Critical minerals are a commodity. If they pay international market price, whether they operate or we do, we get the economic value. The important thing is we give access,” he said.
For information, in the ART document, Article 6.1 and its explanation (Annex III Article 6.1) states that Indonesia is obliged to allow and facilitate US investments related to critical minerals, from the exploration, mining, extraction, processing, to export stages.
Furthermore, the regulation also guarantees that US investors will receive equal or no less favourable treatment (no less favorable) compared to domestic investors (national treatment).