Several mining and energy companies in Indonesia have voiced significant concerns regarding the potential impact of a proposed centralized export scheme to be implemented through PT Danantara Sumberdaya Indonesia (DSI). Among the key risks highlighted are reduced business flexibility, the addition of new bureaucratic layers, and considerable pressure on corporate profitability.
These companies communicated their views through official disclosures to the Indonesia Stock Exchange (IDX), specifically addressing the draft Government Regulation (PP) on Natural Resources Export Governance.
PT ABM Investama Tbk (ABMM), for instance, articulated that a “one-door export mechanism” orchestrated by a government-appointed entity could severely disrupt the efficiency of their established business chains.
“The export scheme, conducted centrally through a government-appointed business entity or institution, has the potential to reduce business flexibility and the efficiency of the value chain that the company has maintained,” ABMM management stated in their disclosure to the IDX, cited Saturday, May 30.
ABMM further emphasized the potential for increased bureaucracy and changes in export procedures, which could trigger significant operational uncertainty. The company also warned of risks such as elongated lead times and the accumulation of goods.
From a financial standpoint, ABMM anticipates that operating margins could come under pressure due to the loss of flexibility in direct negotiations with customers. Moreover, additional administrative and coordination costs are expected to potentially strain both operating and net profits.
The risk of delayed cash inflows resulting from the centralization of commodity export transactions is another critical concern for ABMM, particularly regarding the company’s overall cash flow.
ABMM also pointed out the potential for currency mismatches if US dollar export receipts decrease due to this export centralization. This situation, they argue, could exacerbate the risk of fulfilling payment obligations during periods of Rupiah weakening.
In contrast, PT Amman Mineral Internasional Tbk (AMMN) is exercising caution, awaiting final clarity on the government’s regulations before providing a comprehensive assessment of the impact on its business. “We believe it would be too early to comment on the potential impact at this stage,” stated AMMN management.
Nevertheless, AMMN acknowledged that it cannot rule out the possibility of a direct impact if the scope of the regulation eventually encompasses critical commodities such as copper, gold, and other export products.
“Therefore, the Company hopes that such regulations can be clearly formulated, commercially practical, and simultaneously maintain business continuity and Indonesia’s attractiveness as an investment destination,” the company conveyed.
Taking a different stance from ABMM and AMMN, PT Aneka Tambang Tbk (ANTM) views the strengthening of national export governance as a positive momentum for promoting downstream processing and reinforcing Indonesia’s position within the global supply chain.
“ANTM, in principle, supports government policies aimed at strengthening national export coordination, enhancing the competitiveness of Indonesian downstream products, and creating a more integrated and efficient trading ecosystem,” ANTM management affirmed.
ANTM underscored that its current business focus remains predominantly domestic. According to its Q1 2026 financial report, ANTM’s domestic sales reached IDR 28.31 trillion, representing a substantial 97% of the company’s total net sales.
Meanwhile, PT Adhi Kartiko Pratama Tbk (NICE) stated that the policy has not had a material impact on the company. “Because the Company does not engage in export activities,” NICE management explained.
Despite this, NICE recognized that its customers who supply export-oriented smelters or processing facilities could still be indirectly affected by the implementation of the Natural Resources Export Governance Regulation.
Summary
Several Indonesian mining and energy companies have voiced significant concerns over a proposed centralized export scheme by PT Danantara Sumberdaya Indonesia (DSI), citing potential reductions in business flexibility, new bureaucratic layers, and pressure on profitability. PT ABM Investama Tbk (ABMM) specifically warned that such a “one-door export mechanism” could disrupt their value chains, increase operational uncertainty, and lead to delayed cash inflows and currency mismatches. The company anticipates negative impacts on operating margins and higher administrative costs.
Conversely, PT Amman Mineral Internasional Tbk (AMMN) is cautiously awaiting final regulatory clarity before assessing the impact, though it acknowledges potential effects if the scope includes key commodities. PT Aneka Tambang Tbk (ANTM) supports the policy, viewing it as positive for national export governance, downstream processing, and strengthening Indonesia’s global supply chain, noting its primarily domestic sales focus. PT Adhi Kartiko Pratama Tbk (NICE) stated no direct material impact as it does not export, but recognized potential indirect effects on its customers who supply export-oriented facilities.