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FLASH: ESDM Minister: RKAB Measures take Effect, Indonesian nickel prices stabilize

Source: Mysteel Sep 22, 2026 14:49
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Nickel Demand Price Supply

Indonesian Minister of Energy and Mineral Resources Bahlil Lahadalia said at a blood donation event for the 81st Mining Anniversary held at Balai Sudirman in Jakarta that by readjusting the supply and demand of minerals including nickel, Indonesia's international standing and bargaining power have been strengthened. He noted that controlling nickel production through RKAB has begun to produce positive results, not only stabilizing Indonesian nickel prices globally but also increasing state revenue.

 

Bahlil stressed that the mining sector restructuring also aims to balance fairness and protect MSMEs, which contribute 61% to Indonesia's GDP. He said large companies need support, but they must contribute to the state through high royalties while not stifling MSMEs. If forced to choose between the two, he would prioritize MSMEs. The restructuring is being carried out in stages: regulatory reform in 2025, enforcement in 2026, and further improvement and strengthening in 2027.

 

Government data show that as of August 31, 2026, non-tax state revenue (PNBP) from the mineral and coal subsector reached 108 trillion rupiah, an increase of 21 trillion rupiah year on year. Tri Winarno, Director General of Mineral and Coal at the ESDM Ministry, said the 2026 RKAB restructuring cut average monthly coal production by 8 million tons and nickel production by about 13 million tons of ore.

 

Specifically:

Coal: PNBP rose from 59 trillion rupiah in the same period of 2025 to 66 trillion rupiah, an increase of 7 trillion; average monthly production fell from 68 million tons in 2025 to 60 million tons in 2026.

Nickel: PNBP jumped from 10 trillion rupiah in the same period of 2025 to 21 trillion rupiah, an increase of 11 trillion; despite nickel production falling by about 13 million tons of ore.

 

Tri Winarno said this shows that measurable production governance can increase state revenue without excessive exploitation. The RKAB cuts focus on coal and nickel, adopting an "optimum production" approach that balances market demand, domestic market obligation (DMO), price trends, logistics, and reserve sustainability to maximize state returns.

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