Indonesia President Prabowo orders greater share of mining benefits for the state

JAKARTA - Indonesian President Prabowo Subianto said on Nov 14 that the state should secure a greater share of benefits from all mining permits and, if necessary, hold controlling stakes in mining assets.“From now on, (of) all mining permits, at least 70% must benefit the state. If necessary, the shares should be state-controlled,” he said in a speech to members of one of Indonesia’s largest Islamic groups, Muhammadiyah.A statement from the presidential palace said the 70% stipulated by the President referred to the proceeds from the management of mining permits.Prabowo added in his speech that Indonesia was open to investors in the mining sector but that “the profits must predominantly go to the Indonesian people”.Earlier in 2026, several local media outlets, citing Indonesia’s Deputy Energy Minister Yuliot Tanjung, reported that officials had discussed having the mineral and coal sector adopt a gross-split scheme, under which 70% of output would go to the government and 30% to the mine operator.However, Indonesia’s Energy Minister Bahlil Lahadalia later said in June that the proposal had been dropped following consultations with Prabowo. REUTERS