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Reuters reported that top government officials in Indonesia have said the country does not plan to “wind back” its ban on exports of unprocessed nickel ore and bauxite.
Reuters reported that top government officials in Indonesia have said the country does not plan to “wind back” its ban on exports of unprocessed nickel ore and bauxite.
As quoted in the market news:
Last month the government allowed a handful of firms producing partially processed minerals such as copper concentrate, including Freeport McMoRan Inc, to resume exports.
However, Indonesia’s chief economic minister Chairul Tanjung said the same rationale does not apply to unprocessed exports of nickel ore and bauxite.
‘Nickel is different because if you are smelting in Indonesia the added value is much higher than copper,’ Tanjung told Reuters in a recent interview. ‘Because of that it’s a separate issue.’
The government also lacks the power to intervene on nickel and bauxite as the ban stemmed from a law passed by parliament in 2009, Tanjung said.
‘There is no way for us to go against the law. The president could be impeached by parliament if we breach the law,’ he said.