Top Indonesia nickel miner seeks to export six million tonnes of ore

JAKARTA: PT Aneka Tambang, one of Indonesia’s biggest nickel producers, is seeking government approval to export six million metric tonnes of low-grade ore, two months after the nation relaxed its ban on shipments.

The Jakarta-based company filed an application with the Energy and Mineral Resources Ministry this week to export the ore over a year, Senior Vice-President Trenggono Sutioso said by phone yesterday.

The Trade Ministry issues export permits based on the recommendation of the energy ministry.

Indonesia was the world’s top supplier of mined nickel, used in stainless steel, before it halted shipments in 2014 to help develop its smelting industry and retain its mineral wealth.

The country eased the ban in January, allowing smelters to export surplus ore containing less than 1.7% nickel, although shipments have yet to restart.

In 2013, Antam sold a record 9.7 million tonnes of ore, about a third of which was low grade, according to its website.

“We have received interest from some of our buyers in China, Japan and Eastern Europe, but we haven’t committed to anything yet,” Sutioso said. “We will talk about shipment contracts after getting the export permit.”

The energy ministry’s rules for would-be exporters compel them to link shipments to measures that will support the nation’s smelting industry, and overseas sales are subject to a 10% tax. Indonesia’s relaxation of its ban has coincided with the threat of mine shutdowns in the Philippines, now the world’s biggest nickel supplier, and its policy changes have pushed the price of the metal in opposite directions. — Bloomberg

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 1
Cxense type: free
User access status: 0
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!

Business , nickel


Next In Business News

Bursa Malaysia to close for Federal Territory Day, Thaipusam holidays
Asian currencies rise as China markets reopen after holiday
Maybank rolls out kill switch to combat online scams
Crude oil prices retain bullish pulse in 2023 as fundamentals in top gear
Philips scraps 6,000 jobs in drive to improve profitability
Sunway REIT stays upbeat amid improving retail, hotel performance
Malaysia's PPI rises 3.5% in December
FBM KLCI stays in range-bound trading ahead of peak earnings period
Ringgit extends winning streak on expectation of slower US interest rate hike
Elon Musk’s mysterious ways on display in Tesla tweet trial

Others Also Read