On March 25, 2026, Indonesian Energy and Mineral Resources Minister Bahlil Lahadalia stated during a limited meeting with the President that the government plans to adjust the benchmark price for nickel ore (HPM) as a new revenue stream for the mining sector.
According to Meidy Katrin Lengkey, Secretary General of the Indonesian Nickel Miners Association (APNI), the revisions to the nickel ore benchmark price primarily involve the valuation of cobalt and other elemental content. The specific details have been largely finalized, with further announcements on the key points of the HPM revision expected from the Ministry of Energy and Mineral Resources (ESDM).
Written by Cora Ji, jiruyan@mysteel.com
