Indonesia targets $45 billion in nickel exports this year, seeks $618 billion in downstream investment by 2040

【JAKARTA, Indonesia—Correspondent Aulia Maulida Hamdani】The Indonesian government aims to increase nickel export revenue to $45 billion (about 61 trillion won) this year and invest $618 billion (about 835 trillion won) by 2040 in developing downstream industries across the minerals, energy, agriculture and fisheries sectors, seeking to increase the value added of its resources and achieve economic self-reliance.
According to local media on the 15th, Bahlil Lahadalia, Indonesia’s Minister of Energy and Mineral Resources and Coordinating Minister for Downstreaming and Energy Transition, announced the nickel export target and plans to develop downstream industries at the opening ceremony of the 41st Indonesia Trade Expo (TEI), held the previous day in Tangerang. Bahlil attended the ceremony on behalf of President Prabowo Subianto.
Indonesia’s nickel export revenue surged from about $3.3 billion (about 4.5 trillion won) in 2017–2018 to at least $40 billion (about 54 trillion won) in 2025, thanks to the government’s existing policy, centered on a ban on exports of unprocessed ore and the expansion of domestic smelting and processing facilities. The government aims to increase exports to $45 billion (about 61 trillion won) this year and plans to continue boosting the value added of resources and sustaining export growth by developing downstream industries.
The government plans to expand domestic processing of resources, including nickel, to increase the value added of exported goods and build related industrial ecosystems. According to the government, developing downstream industries can lead to growth in related industries, greater participation by domestic companies, the acquisition of technology, job creation and access to overseas markets for high-value-added products.
The Indonesian government is also pursuing a medium- to long-term plan to extend downstream industry development beyond mining to other sectors. It aims to attract a total of $618 billion (about 835 trillion won) in investment by 2040, covering not only minerals and coal, and oil and gas, but also forestry, fisheries and agriculture.
Minister Bahlil said, “The investment target in Indonesia’s Downstream Industry Master Plan, drawn up with 2040 as its target year, is $618 billion (about 835 trillion won).” 
[email protected] Correspondent Aulia Maulida Hamdani Reporter