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Commodities

Indonesia announces nickel ore export ban starting in January 2020

Three-month nickel contract on London Metal Exchange hits five-year high

A worker watches as trucks load up raw nickel near Sorowako, Indonesia's Sulawesi island.   © Reuters

JAKARTA (Reuters) -- Indonesia said on Monday it will stop nickel ore exports from Jan. 1, 2020, two years earlier than initially flagged as it speeds up efforts to process more of its resources at home.

Bambang Gatot Ariyono, the mining ministry's director general for coal and minerals, said the ban will be applicable to all grades of nickel ore and ordered exporters to stop shipments from that date regardless of standing contracts.

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