Coal Giant Adaro Backs Indonesia’s New $150 Billion State Export Monopoly

JAKARTA, Investortrust.id — Mining heavyweight PT Adaro Andalan Indonesia Tbk (AADI) has thrown its full corporate weight behind Jakarta’s aggressive new resource nationalism policy, signaling that the country's largest producers will comply with a planned state export monopoly.

During its annual shareholder meeting, the newly listed pure-play coal powerhouse confirmed total alignment with the establishment of PT Danantara Sumber Daya Indonesia (DSI), the newly minted state entity designated as the sole exporter for the country's strategic natural resources. The compliance pledge from a dominant private player effectively removes a major potential hurdle for President Prabowo Subianto’s sweeping trade overhaul.

AADI’s proactive surrender to the mandate indicates that major Indonesian resource players will choose cooperation over legal or operational resistance. For global markets, this means the transition toward a centralized state trading desk is now a high-probability reality rather than a bureaucratic proposal. International buyers must prepare to adjust their procurement logistics, as one of the world's largest supplies of thermal coal is about to be managed through a single state gatekeeper.

Corporate Alignment Over Commercial Friction

Addressing worried shareholders at the Cyber 2 Tower in Jakarta, AADI management downplayed risks of commercial disruption, reframing the policy as a necessary step for national economic health. Despite the government not yet issuing final technical regulations for the state aggregator, the coal giant’s executive board emphasized that long-term corporate growth is impossible without state fiscal stability.

"The principle is that we will always support all government policies. We are confident that this government policy is definitely the best and has been thoroughly thought through by the government," AADI Chief Executive Officer Julius Aslan told shareholders on Friday, May 22, 2026.

Aslan added that private companies must prioritize national interests, noting that a robust state economy will naturally foster a healthier business environment for miners.

Adapting to a Centralized Global Supply Chain

The state intervention targets a massive $150 billion in annual revenue leakage caused by decades of trade misinvoicing and predatory transfer pricing. The Prabowo administration is leveraging artificial intelligence and global shipping data to halt the practice of selling cheap commodities to captive offshore affiliates before flipping them to final international buyers at market prices.

While AADI recognizes that the initial rollout will require structural adjustments, the company remains highly optimistic about its operational continuity under the new regime.

"Of course, good policies will definitely make business better. We are confident that this new policy will not make AADI's business any less favorable," Aslan stated, dismissing concerns over immediate performance declines.

The transition begins with mandatory trade tracking from June to August 2026, leading to full state monopoly enforcement over coal, palm oil, and ferroalloys on September 1, 2026.