Arif Perdana Kusumah, Chairman of the Indonesian Nickel Industry Federation (FINI), expressed his support for the government’s plan to begin operating the Mineral and Strategic Commodities Exchange (BMKS) on January 1, 2027.
He said industry players expect the government’s initiative to establish a more transparent commodity trading system. He added that industry players also have an interest in ensuring that Indonesia’s mineral resources are traded fairly and protected from practices such as under-invoicing and transfer pricing.
“Who would be willing to see our resources subject to under-invoicing and transfer pricing? Of course, no one would. We certainly aren’t willing to accept that either. From the association’s perspective, FINI supports it,” Arif said in a statement on Wednesday, September 9, 2026.
As part of its support, FINI, together with several other associations, has established a task force to provide input to Danantara Sumberdaya Indonesia (DSI) in developing the platform currently being prepared.
Arif said the establishment of a reference price is one of the key aspects in developing Indonesia’s national mineral trading ecosystem. The establishment of an Indonesian Mineral Exchange could pave the way for Indonesia to have its own commodity price benchmark.
“I believe that is the purpose of the Indonesian mineral exchange, based on what Mr. Prabowo has said. We need to determine [the prices] ourselves,” he said.
Establishing a domestic price benchmark is important given that Indonesia is one of the world’s major producers of various mineral commodities. By having its own trading mechanism and price references, Indonesia is expected to move beyond simply following prices established in international markets.
The mineral exchange is also expected to strengthen the position of national companies with strategic commodity portfolios, including PT Mineral Industri Indonesia (Persero), or MIND ID, the national mining industry holding company.
“Strengthening transaction transparency and establishing domestic price references can be part of efforts to improve the bargaining power of Indonesia’s mineral industry within the global trading chain,” Arif concluded.
Earlier reports quoted Rosan Roeslani, CEO of the Danantara Indonesia Investment Management Agency, as saying that the Mineral and Strategic Commodities Exchange could eventually operate alongside Danantara Sumberdaya Indonesia (DSI).
He explained that the mineral exchange would serve as a trading mechanism designed to strengthen transparency while supporting an open price-discovery process.
“The mineral exchange is more of a spot market,” Rosan said.
He explained that the development of the exchange’s features needs to be tailored to the characteristics of mineral trading. The exchange is expected to improve transparency, accountability, and governance in commodity transactions.
The mechanism would also allow the price-discovery process to be viewed more openly by various parties. In this way, the mineral exchange could complement the instruments within the mineral trading ecosystem currently being developed by the government.
President Prabowo Subianto previously said the government intends to establish the Mineral and Strategic Commodities Exchange as its own trading instrument. The exchange is expected to serve as the foundation for establishing an Indonesia Reference Price, giving Indonesia its own price references for various major export commodities.
Prabowo said the initiative is important because Indonesia has been one of the world’s major producers of important commodities for decades, including nickel, tin, coal, and gold.
Given the scale of Indonesia’s production, Prabowo said the country should also have a stronger position in global commodity trading and price formation.
“We don’t just want to be a producer of commodities for the world. We must also have a role in determining global commodity prices. We want Indonesia to become a place where commodities are traded,” Prabowo said.
