Jakarta (ANTARA) - Sovereign wealth fund Danantara has started talks on US access to the country's critical minerals, Coordinating Minister for Economic Affairs Airlangga Hartarto said on Friday.The talks are proceeding alongside Indonesia's efforts to secure tariff exemptions for several natural resource commodities as part of negotiations on the US reciprocal tariff policy.
Hartarto said Danantara is operating under a business-to-business scheme, tasked with facilitating cooperation between Indonesian companies and US firms seeking to invest in the country's critical minerals sector.
"In fact, several US companies have already engaged with Indonesian critical minerals firms," he said.
He stressed that the United States is not a new player in Indonesia's mining sector, citing copper extraction by Freeport-McMoRan, which has operated in the country since 1967.
Hartarto added that Indonesia's nickel, bauxite, and rare earth elements have long attracted US and global interest, referring to the operations of Vale Indonesia in nickel production since the 1970s.
He noted that Indonesia’s rare earth elements sector remains under development and is largely derived as a by-product of state-owned tin miner Timah.
Hartarto confirmed that the United States seeks access to Indonesia's critical minerals to support strategic industries, including automotive, aviation, and defense manufacturing.
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Separately, he said President Prabowo Subianto and US President Donald Trump are expected to sign an Agreement on Reciprocal Trade in late January 2026, following the completion of technical and legal reviews earlier that month.
Hartarto said both sides have agreed on the substance of the deal, with negotiations now entering the legal drafting and language harmonization stage.
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"In the second week of January 2026, technical teams from Indonesia and the US will proceed with legal drafting and document cleanup, targeted for completion within one week, between January 12 and 19," he said.
Hartarto also highlighted his recent meeting with US Trade Representative Ambassador Jamieson Greer, saying Washington has expressed willingness to grant tariff exemptions for Indonesia's key commodities, including palm oil, cocoa, and coffee.
The Indonesian government, he added, aims to expand the scope of exemptions beyond tropical natural resource products.
