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View all search resultsIndonesia may relax production quotas of nickel, coal if prices stay high
Previously, Indonesia announced plans to cut output quotas for several minerals this year to help support prices, including reducing the coal production quota from 790 million tons last year to 600 million metric tons.
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Coal storage barges float in a yard next to the Batanghari River in Muaro Jambi, Jambi, on May 6, 2024. (Antara/Wahdi Septiawan)
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ndonesia, the top producer of thermal coal and nickel, may relax production quotas for both commodities if prices remain high, its energy minister, Bahlil Lahadalia, said.
"If the prices remain stable, good, we may do what we call a measured relaxation on production plans," he said in a statement late on Wednesday after a meeting with President Prabowo Subianto.
"Everything is still being coordinated with the market and the supply and demand, too.”
Indonesia has announced plans to cut mining output quotas for many of its minerals to help support prices this year. Indonesia has announced plans to cut its coal production quota to 600 million metric tons, from about 790 million tons produced last year.
The nickel ore production quota, known as RKAB, has been set at 260 million to 270 million tons, the energy ministry has said, lower than the demand of around 340 million to 350 million tons, as estimated by Indonesia's nickel smelter association FINI.
RKAB is subject to revision. All miners in mineral-rich Indonesia are required to submit their annual production plans to the mining ministry for government final approval.
