Indonesia’s energy and mineral resources ministry plans to set a base price for sale of nickel ore. The new regulation is scheduled to be implemented by the end of March.
Indonesia plans to set a base prices for nickel ore to protect the interests of its nickel mine owners, after the country banned exports of nickel ore at the start of 2020. This move would ensure Indonesian miners can sell at globally competitive prices and are not forced to reduce their margins.
The base price will be monitored and adjusted by the government regularly according to market developments and sanctions will be placed on nickel smelters who do not adhere to the price regulations.