Antara News·Indonesia·Thursday, October 15, 2026 at 06:07 PM UTC

Nickel downstreaming boosts export target to US$45 billion: Bahlil

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Putu Indah Savitri, Yashinta Difa

Jakarta (ANTARA) - Indonesia aims to generate at least US$45 billion in nickel exports in 2026, as its downstream processing drive expands domestic production of higher-value goods.

The target builds on gains following a ban on raw nickel ore exports and the rapid expansion of domestic processing capacity.

Coordinating Minister for Downstreaming and Energy Transition Bahlil Lahadalia, who also heads the energy and mineral resources ministry, said in a statement on Thursday that the policy adds value to natural resources and strengthens economic independence.

Government data show nickel export value rose from about US$3.3 billion in 2017–2018 to US$34 billion in 2023 and more than US$40 billion in 2025.

Bahlil said the shift toward domestic processing was part of a broader structural economic transformation, extending beyond the construction of processing plants.

The policy can support domestic industries, expand local business participation, strengthen technological capabilities, create jobs and open international markets for higher-value products.

The government has also drawn up a broader downstreaming roadmap through 2040, targeting US$618 billion in investment across natural resource sectors.

The plan covers minerals and coal, oil and gas, forestry, fisheries and agriculture.

“Our downstreaming master plan sets a target of US$618 billion by 2040,” Bahlil said.

He added that nickel processing shows how creating value at home can boost economic growth, strengthen Indonesia’s position in global supply chains and promote long-term economic self-reliance.

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