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Jakarta Post

Govt flip-flops on nickel ban, allows exports until January

  • Norman Harsono

    The Jakarta Post

Jakarta   /   Mon, November 11 2019   /  12:53 am

A week after announcing a temporary ban on nickel ore exports, Coordinating Maritime Affairs and Investment Minister Luhut Pandjaitan has announced exports are to be permitted until January 2020.In what observers have deemed a regulatory flip-flop that could disrupt the country’s business climate and regulatory certainty, Luhut said Thursday evening that the ban “has been lifted for companies compliant with existing regulations”.Luhut added that once the planned permanent ban comes into effect in January 2020, all domestic selling prices for nickel “will be pegged at the average international price for one year”, minus tax and shipping costs.Luhut’s announcement on Thursday came after a closed-door meeting with, among others, Trade Ministry, Energy and Mineral Resources Ministry and Investment Coordinating Board (BKPM) officials.No formal regulation has been issued by the Ene...