Jakarta –
Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia will review stopping exports of a number of other raw commodities, including tin. According to him, exports of raw materials must be replaced with domestic downstream products in order to strengthen the national economic structure.
“Last year we banned bauxite exports. And next year, we will study several other commodities, including tin,” said Bahlil in a written statement, Sunday (15/2/2026).
Bahlil gave the example of the ban on nickel ore exports in 2018-2019 which has had sweet results with total nickel exports reaching 10 times in the 2023-2024 period.
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“Our total nickel exports in 2018-2019 were only US$ 3.3 billion. And then once we banned exports, in 2024 our total exports would have reached US$ 34 billion. 10 times as much in just 5 years. This then becomes the impetus for equitable economic growth, creating jobs,” he said.
Rather than exporting raw goods, Bahlil encourages business actors to build downstream facilities domestically. The aim is to ensure that the added value of mineral commodities can be enjoyed by the community
“Friends, please build downstream investment domestically,” continued Bahlil.
Some time ago, President Prabowo Subianto designated 18 downstream projects as national priorities for 2026 with an investment value of IDR 618 trillion. These projects cover various strategic sectors and are targeted to start running this year, including downstream bauxite, nickel, coal gasification, and oil refineries.
This downstream product is targeted to be an item that can replace imported goods from abroad. Bahlil also invited national investors, including the banking sector, to inject funds into this national strategic project.
“All the products are intended to provide import substitution. This is a domestic captive market. So, this is an opportunity for banks to finance. Don’t let it happen that you don’t finance it anymore, then you will think that downstreaming is only the added value controlled by our friends from abroad,” he concluded.
By 2040, downstream programs in various sectors are predicted to bring in investment of up to US$ 618 billion. Of that amount, US$ 498.4 billion came from the mineral and coal (minerba) subsector and US$ 68.3 billion from oil and natural gas.
Downstreaming is also projected to bring in exports of US$ 857.9 billion, Gross Domestic Product (GDP) of US$ 235.9 billion, and more than 3 million workers.
(acd/acd)
date:2026-02-15 03:44:00
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