Indonesia to ban all ore exports in 2014

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MiningThe Indonesian government will ban all mineral-ore exports in 2014 after it received backing from parliament, said Energy and Mineral Resources Minister Jero Wacik according to Bloomberg.

Indonesia, the world’s biggest producer of mined nickel, is seeking to increase control over commodity supplies and boost the value of exports. The country ships ore to China for nickel pig iron, an alternative to refined metal, and supplies bauxite to the world’s aluminum industry. Citigroup raised its 2014 nickel forecast by 3.8 per cent to $17,000 a metric tonne in November, saying the curbs were being mispriced by the market.

Mining companies in Indonesia will be allowed to ship ores overseas only until January 12, said Wacik. The country had planned to exempt companies that are operating or planning smelters. The government received 125 proposals for smelters, of which 28 are under construction.

Indonesia exported 46.5 million tonnes of nickel ore in the first 10 months of 2013 from 41.1 million tonnes in the whole of 2012. Bauxite shipments were 47.01 million tonnes from 30.2 million tonnes. Indonesia is also the world’s largest tin supplier and from August 30 ordered exporters of the metal used in smartphones and packaging to trade it on a local exchange before shipment.

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Reading Time: 1 minute

The Indonesian government will ban all mineral-ore exports in 2014 after it received backing from parliament, said Energy and Mineral Resources Minister Jero Wacik according to Bloomberg.

Reading Time: 1 minute

MiningThe Indonesian government will ban all mineral-ore exports in 2014 after it received backing from parliament, said Energy and Mineral Resources Minister Jero Wacik according to Bloomberg.

Indonesia, the world’s biggest producer of mined nickel, is seeking to increase control over commodity supplies and boost the value of exports. The country ships ore to China for nickel pig iron, an alternative to refined metal, and supplies bauxite to the world’s aluminum industry. Citigroup raised its 2014 nickel forecast by 3.8 per cent to $17,000 a metric tonne in November, saying the curbs were being mispriced by the market.

Mining companies in Indonesia will be allowed to ship ores overseas only until January 12, said Wacik. The country had planned to exempt companies that are operating or planning smelters. The government received 125 proposals for smelters, of which 28 are under construction.

Indonesia exported 46.5 million tonnes of nickel ore in the first 10 months of 2013 from 41.1 million tonnes in the whole of 2012. Bauxite shipments were 47.01 million tonnes from 30.2 million tonnes. Indonesia is also the world’s largest tin supplier and from August 30 ordered exporters of the metal used in smartphones and packaging to trade it on a local exchange before shipment.

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