Indonesia’s Nickel Revolution: MIND ID Plans to Influence Global Pricing

JAKARTA, RAKYAT NEWS — Hendi Prio Santoso, CEO of state-owned mining holding MIND ID, believes Indonesia’s rich mineral resources position it to become a major global player in setting mineral prices.

Hendi highlighted Indonesia’s potential to influence global commodity prices due to its abundant mineral reserves.

“Fundamentally, Indonesia possesses superior commodities compared to other countries,” Hendi stated during the Mining Zone program.

He emphasized that with its vast mineral supply, Indonesia should be able to influence global mineral prices in the near future.

Hendi also noted that Indonesia’s reliance on international indices for coal pricing, such as those from Australia and Asia, should be re-evaluated. As one of the world’s top coal producers and exporters, Indonesia has the potential to set its own coal prices. This shift could reduce dependence on external pricing mechanisms and enhance national economic stability.

Similarly, for tin, Indonesia ranks among the top three global producers alongside Peru and China. Hendi suggested that Indonesia could adopt a price-setting strategy similar to that of OPEC for oil.

Such a move would not only increase Indonesia’s influence in the global market but also strengthen its position as a key player in the tin industry.

In addition to these strategic moves, Hendi highlighted the importance of advancing domestic mining technologies and infrastructure. By investing in cutting-edge technology and improving mining efficiency, Indonesia can boost its competitive edge and increase its market share. This approach aligns with the government’s broader agenda to enhance the value chain of its natural resources.