Indonesia controls a significant portion of the global nickel supply, with around 65% of global demand met by the country, according to Tri Winarno, Director General of Minerals and Coal at the Ministry of Energy and Mineral Resources (ESDM). However, this supply is being affected by a global industrial slowdown, especially in China, which is the main market for Indonesian nickel—primarily used for stainless steel production. In response to the shifting market dynamics, the ESDM Directorate General of Minerals and Coal has outlined a five-point strategy to maintain price stability for mineral and coal (Minerba) commodities: 1. Production planning tailored to domestic demand and export plans. 2. Integration of feasibility studies (FS) and environmental documents (AMDAL) in the approval process for work and budget plans (RKAB). 3. Regular evaluation of previously approved production volumes. 4. Setting benchmark prices such as the Coal Benchmark Price (HBA), Mineral Benchmark Price (HMA), and Reference Prices for Minerals and Coal (HPM/HPA), which act as minimum selling price limits under ESDM Regulation No. 72 of 2025. 5. Strengthening oversight and enforcement to ensure mining operations follow good mining practices. The overall aim is to keep commodity prices stable at favorable levels, as the government seeks to maintain economic resilience amid fluctuating global markets.