Business · Energy & Commodities · 3 hrs ago
Prabowo Says Five Indonesian Mining Permits Hold Rp 5,400 Trillion in Proven Reserves
President Prabowo Subianto said five Indonesian mining permits hold proven reserves worth Rp 5,400 trillion.
He shared the figure at a government meeting in Jakarta on Thursday.
The reserves have been assessed, but the minerals have not yet been mined.
Prabowo said the country should not celebrate too soon because the wealth remains underground.
He said some companies have held mining permits for decades without developing them, sometimes using the permits for speculation instead.
He wants permits awarded only to companies able to develop the sites, and said the government is working to bring inactive concessions under control.
The sources give no timeline for when the five sites may be mined.
President Prabowo Subianto said five Indonesian mining permits have proven reserves valued at Rp 5,400 trillion, or US$300 billion.
He said the reserves are based on studies but remain underground and cannot yet be used.
Prabowo called for mining permits to be awarded more carefully and for natural resources to be managed responsibly.
He said some mining concessions had gone undeveloped for decades and had been used for speculation.
- Who
- President Prabowo Subianto.
- What
- He said five mining permits have proven reserves valued at Rp 5,400 trillion, or US$300 billion.
- When
- The report and remarks were described as occurring on October 22, 2026, by Detik; CNBC Indonesia refers to a program on October 21, 2026.
- Where
- At a national coordination meeting in Jakarta, according to Detik.
- Why
- Prabowo said the reserves show Indonesia’s natural wealth, which should be managed responsibly; he also called for stricter selection of mining permit holders.
This story does not have two clearly opposing sides.
Detik says Prabowo spoke at a national coordination meeting in Jakarta and reported the estimated value of reserves in five mining permits.
CNBC Indonesia refers to the remarks in a program dated October 21, while Detik dates the meeting to October 22.
- Mining permits
- 5 IUPs
- Estimated reserve value
- Rp 5,400 trillion
- Equivalent value
- US$300 billion
- Location of meeting
- Jiexpo, Jakarta
- Event date
- October 22, 2026, according to Detik
2 sources
What people are saying
The wealth is still underground. But what I mean is that our country is very rich.
The problem is that we have granted many concessions that have not been worked for decades; this is what we are putting in order.