Indonesia drops nickel ore mining quotas to fixed prices
Indonesia is reviewing its annual quota for nickel ore mining in an effort to prevent a further decline in prices, Energy and Mineral Resources Minister Bahlil Lahadalia told reporters on Friday.
He did not reveal the volume of crude production allowed for the year 2025, saying that the quota will depend on the demand for crude.
“We must maintain a balance. The quota should not be so high above industrial demand that nickel prices become cheap,” Bahlil said.
Last year, Indonesia approved annual nickel ore mining quotas of 240 million metric tons annually until 2026. Bloomberg News reported in December that authorities were considering reducing the quota to 150 million tons to support prices.
Indonesia has been one of the world’s largest producers of nickel products since a 2020 ban on raw nickel exports.
(Reporting by Bernadette Cristina Monti, Writing by Francisca Nanjoy and Gayatri Suroyo, Editing by David Goodman)
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