Indonesia Revokes Nickel Ore and Bauxite Export Permits

Budd Indonesia has spotted this important news published by Reuters:

* Indonesian government temporarily revoked nickel ore and bauxite export permits of four companies citing zero progress in smelter development, energy ministry data showed on Thursday.

* Export permits for a combined 4,222,119 tonnes of nickel ore were revoked from PT Surya Saga Utama, PT Modern Cahaya Makmur and PT Integra Mining Nusantara, the data showed.

* The government also temporarily revoked permit for PT Lobindo Nusa Persada to export 1.5 million tonnes of bauxite.

* Indonesian government grants mineral ore export permits to companies which are building smelters and review the constructions every six months.

* Throughout 2017, the country issued permits to export more than 22 million tonnes of nickel ore and nearly 15 million tonnes of bauxite. Permits typically stand for one year and companies are allowed to renew them.

Reproduced curtesy of Reuters.

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