The government has threatened to sanction nickel businesses that fail to comply with nickel ore pricing regulations and, therefore, pose a risk to the country’s plan to develop its downstream mining industry.
Nickel smelters are required to purchase nickel ore at government-pegged prices and nickel miners have to comply with a nickel ore export ban, the Office of the Coordinating Maritime Affairs and Investment Minister’s undersecretary of mining, Septian Hario Seto, warned in a statement on July 23.
“Noncompliant companies will be sanctioned, which can be in the form of a warning, cut in export quotas or even permit termination,” he said.
“The government will not compromise on the nickel export ban.”
Indonesia, the world’s largest nickel ore producing country, has banned exports of the commodity since J...
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