RI’s mineral exchange plan faces positioning, governance tests
President Prabowo Subianto announced that Indonesia will launch the Strategic Minerals and Commodities Exchange (BMKS), set to begin operations on Jan. 1 next year.
Indonesia plans to launch the Strategic Minerals and Commodities Exchange (BMKS) in January 2028, aiming to convert resource wealth into pricing power. President Prabowo Subianto announced this during a budget address on August 14, 2027, with the exchange to be overseen by the Financial Services Authority (OJK). The BMKS will seek to establish an Indonesia Reference Price for major export commodities and foster a more transparent market with reduced manipulation.
However, the exchange's governance, liquidity, and product standards are under scrutiny as key tests for its success. Indonesia has long been a leading producer of palm oil, nickel, tin, coal, gold, coffee, and rubber, and the BMKS is seen as a means to secure stronger bargaining power in global markets.
Written by urgent.news from The Jakarta Post's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
