State-owned mining holding company MIND ID states that the number of nickel smelters in Indonesia is booming. Its Chief Director indicated that the surge in nickel smelters has lowered the selling prices of related products, with nickel pig iron already facing a situation where prices can barely cover costs. Therefore, it hopes to restrict the construction of secondary nickel smelters (such as those producing nickel pig iron and ferronickel) to prevent oversupply in the global market. At the same time, considering that the remaining lifespan of nickel reserves is only enough for the next dozen years, it calls for full support for ongoing smelter projects to avoid policy harm to nickel companies that have invested heavily. The 2009 relevant law regulated the downstream implementation of the mineral materials industry, and the government implemented an export ban in January 2014 based on this.
State-owned mining holding company MIND ID states that the number of nickel smelters in Indonesia is booming. Its Chief Director indicated that the surge in nickel smelters has lowered the selling prices of related products, with nickel pig iron already facing a situation where prices can barely cover costs. Therefore, it hopes to restrict the construction of secondary nickel smelters (such as those producing nickel pig iron and ferronickel) to prevent oversupply in the global market. At the same time, considering that the remaining lifespan of nickel reserves is only enough for the next dozen years, it calls for full support for ongoing smelter projects to avoid policy harm to nickel companies that have invested heavily. The 2009 relevant law regulated the downstream implementation of the mineral materials industry, and the government implemented an export ban in January 2014 based on this.