Indonesia’s Nickel Ore Exports Much Improved in October

Mining Weekly reported that Indonesia saw improved nickel ore exports in October as China stocked up its supplies for the winter and 74 nickel-mining companies again took up production after meeting new government rules.

As quoted in the market news:

Indonesia’s exports of mineral ore surged ahead of a May rule that imposed curbs and a tax on exports, and then fell by mid-year. Miners will no longer be able to export unprocessed ore beyond a 2014 deadline.

The rules aim to push firms to develop processing facilities, and some have pledged to build smelters, but a series of court challenges has stirred up uncertainty.

Exports of nickel ore to key buyer China climbed to just under 2.5-million tons in October, an increase of 18% on the month and 12% on the year, Chinese data shows.

“Imports from Indonesia should remain strong in November,” said a Chinese nickel importer.

Click here to read the full Mining Weekly report.