indonesia nickel export ban

The surprise announcement comes about a month after resource-rich Indonesia shocked markets by saying it would roll out a planned nickel-ore export ban … That policy relaxation allowed the export of nickel ores grading below 1.7%, for a period of five years, subject to conditions, meaning that the ban should have been re-imposed in January 2022. Indonesia said on Monday it will stop nickel ore exports from Jan. 1, 2020, two years earlier than initially flagged as it speeds up efforts to process more of its resources at home. We stand to profit a lot from a higher price for nickel," Irmanto said. This month, as D-Day approached for the ban to be fully implemented, the Indonesian government again made a last minute compromise, the effect of which is to potentially suspend the full ban until 2022. JAKARTA — Indonesia said on Monday it will stop nickel ore exports from Jan. 1, 2020, two years earlier than initially flagged as it speeds up efforts to… Output from Indonesia – the world’s biggest producer – will fall by 15% year-on-year to 680,000 tonnes, after the country brought forward a ban on exports of nickel ore from 2022 to 2020. The background to the trade dispute between the European Union and Indonesia is the Indonesian government’s ban on nickel ore exports, which has been in place since Jan. 1, 2020.. The zigzags on Indonesia’s raw ore export ban continue. Prior to the ban, state-owned company PT Aneka Tambang (Antam) exported the largest proportion of Indonesia’s raw nickel ore. (Brazil’s Vale is the largest nickel company in Indonesia but it already processes its nickel ores domestically.) Data from Indonesia, which enacted the ban to force more ore domestic ore processing, shows zero nickel ore exports to China for January to November. A mining ministry official said in October that Indonesia could export up to 15 million tonnes of nickel ore in 2017 if the ban was lifted, about one-quarter of 2013 levels. The largest production sites for nickel are located in the provinces of South Sulawesi, Southeast Sulawesi, Central Sulawesi and North Maluku. This meant that Antam suffered huge financial losses when the nickel ban was introduced. The ban which instead took immediate effect on Oct. 28, is to encourage the building of domestic smelters instead of exporting raw nickel, and other metals, for processing abroad. Data from The Geological Agency at the Ministry of Energy and Mineral Resources (ESDM) stated that Indonesia contributed 800,000 tons out of 2,668,000 million tons of global nickel production in 2019. Indonesia’s export ban has also allowed the price of nickel to fare better than other metals such as copper, avoiding the longer-term financial concerns seen across the resources sector. 5 steps from ESDM to fight European lawsuits on the ban on nickel exports Minister of Energy and Mineral Resources (ESDM) Arifin Tasrif said he had taken five steps to face the European Union's (EU) lawsuit at the World Trade Organization (WTO) regarding the ban on the export of nickel ore. Indonesia eases requirements for mining export permits, nickel excluded March 23, 2021 JAKARTA, March 23 (Reuters) – Indonesia will now grant miners export permit for unrefined mineral ores, even if construction of their refining facilities is delayed, a move aimed at lessening the blow to the industry from the coronavirus, according to a document seen by Reuters. Indonesia had relaxed its previous policy of forbidding the export of unprocessed ores in early 2017 (a policy that had been implemented in 2014). Future prospects. Nickel’s top producer, Indonesia, in early September decided to accelerate a scheduled ban on ore export shipments, from 2022 to January 1, 2020. Ministry of Energy and Mineral Resources (MEMR) Regulation No. Prior to the announcement of Indonesia’s export ban, nickel prices fell steeply in the second half of 2018, but has eased in anticipation of trade talks later in 2019. JAKARTA: Indonesia said on Monday it will stop nickel ore exports from Jan. 1, 2020, two years earlier than initially flagged as it speeds up efforts to process more of its resources at home. The suit is registered with dispute number DS592. Indonesia is the largest nickel producer in the world, with 800,000 tonnes of nickel produced in 2019, up from 606,000 tonnes in 2018. The complete DW Indonesia article by Ayu Purwaningsih can be found here in Indonesian.. Indonesia and EU dispute over access to nickel. Last week the Indonesia Nickel Miners Association urged the government to stick to the 2022 timetable as an earlier-than- expected export ban would disrupt revenue for miners needed to finance smelters development. Prior to the re-implementation of the export ban, which commenced from 1 January 2020 (originally scheduled to take place in January 2022), the country was one of the largest exporters of nickel ore destined for Chinese nickel pig iron (NPI) production. The ban was put in place following Indonesia’s relaxation of a previous ore export ban in 2017, which only allowed nickel ore export of a grade below 1.7%. In addition, the ore export ban would keep the price of nickel in the global market high. World nickel production is expected to decline by 7.4% in 2020 to 2.2 billion tonnes, as a consequence of coronavirus disruption and a fast-tracked export ban in Indonesia. Indonesia’s director-general for Minerals and Coal, Bambang Gatot Ariyono, says the ban on nickel ore exports will stay in place, but the issues with the EU will continue to be discussed. Why nickel prices are surging, after Indonesia confirms plans to ban ore exports - Video - BNN OTTAWA -- Scotiabank is raising its outlook for the price of nickel -- a key component in stainless steel -- following an Indonesian export ban on unprocessed ore that took effect earlier this year. "Indonesia is a big player in the global nickel market. The top global source of nickel ore wants to raise higher export revenue and tackle the current account deficit. Indonesia is the main source of mined nickel. Nickel Prices Soar as Indonesia Brings Forward Export Ban Futures prices on the metal jumped about 9% to their highest level in nearly five years A worker at an Indonesian nickel processing plant. China's customs administration and an Indonesian mining ministry official did not provide an explanation but some analysts believe the answer may lie in material being exported as iron ore but imported into China as nickel ore. The price of nickel has skyrocketed this year as news and speculation surrounding the nickel ore export ban has increased, largely because Indonesia is a major source of nickel for the entire world. However, the EU assumed that the ban on nickel export ruined the bloc’s effort to excel in the world’s stainless steel industry, as nickel ore is the vital ingredient for stainless steel. Previously, nickel price soared to its highest in five years after major producer Indonesia said it would ban the export of ore starting Jan.1, 2020, two years earlier than planned. Nickel prices could reach US$18,000 a tonne if a ban … “The impact of such a ban, if implemented immediately, would be stark, as Indonesia supplies about 8 per cent of the market’s nickel via nickel ore exports,” Citigroup said. We contribute 27 percent of all the nickel products in the market. Indonesia first announced the nickel ore export ban in 2014 that was relaxed in 2017 to a quota system, following strong market rejection. Vale Indonesia is a beneficiary of Indonesia's ban on export of nickel ore starting from 2020, as it derives all of its revenue from processed nickel or nickel in matte. Indonesia is the world’s largest producer of nickel ores and hosts abundant reserves. BNN Bloomberg speaks with Ken Hoffman, senior expert, Basic Materials Practice, McKinsey & Company discusses drivers behind higher nickel prices, as well as where copper's been trading lately. 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