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Indonesia to stop nickel exports

Indonesia will stop exports of nickel ore immediately in the context that the world’s biggest nickel ore producer is seeking to promote domestic metallurgy industry, towards increasing the national budget revenue.
Indonesia to stop nickel exports ảnh 1Activities at a nickel mining site (Source: https://www.thejakartapost.com)

Hanoi (VNA) -Indonesia will stop exports of nickel ore immediately in the context that the world’s biggest nickel ore producer is seeking topromote domestic metallurgy industry, towards increasing the national budgetrevenue.

The announcement was made after a meeting on October 29 between representativesfrom over 30 nickel mining enterprises and Indonesian officials.

The Indonesia’s Investment Coordinating Board(BKPM) said the meeting aims to propose specific actions to promote investmentin the metallurgy industry.

The Indonesian government’s official ban on exportsof nickel was set for January 2020, two years earlier than the first plan.

Indonesia ever banned the exports of nickel ore in 2014 and eased the ban in2017. Its government then said exports of nickel ore would be suspended in2022.

Indonesia accounts for 25 percent of the nickel reserves worldwide with anestimated value of 350 billion USD.

The suspension of nickel exports is also part of the plan to turn Indonesiainto an electric car manufacturing centre. Nickel is used in producing lithiumbatteries for electric vehicles. The Indonesian government is calling on foreignauto manufacturers such as Toyota and Huyndai to invest in electric carproduction in the country./. 
VNA
#Indonesia #exports of nickel #stop #metallurgy industry #budget revenue #investment #Vietnamplus #Vietnam News #Vietnam News Agency Indonesia
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