NICKEL ORE: INDONESIA ANNOUNCES THE END OF EXPORTS
September 12, 2019
The Indonesian Energy and Mineral Resources Ministry has announced that Indonesia will stop nickel exports from 1 January 2020 in order to accelerate the establishment of domestic smelters while its nickel reserves are limited. This is two years earlier than previously advised by the government. A spokesperson said that the ban was in line with the national plan to accelerate the establishment of smelters so that Indonesia could sell value-added nickel products such as stainless steel slabs. At present, Indonesia mostly exports raw nickel ore instead of intermediate products such as batteries and stainless steel. The government has given mining companies four months to complete their exports contracts and exports will need to be completed by 31 December 2019.