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Indonesia's President Joko Widodo hopes banning exports of raw bauxite and other minerals will draw investment to the country.   © Nikkei montage/Source photos by Reuters and Getty Images
Asia Insight

Indonesia bets on critical mineral export bans as deadline nears

History of policy flip-flops could hamper climb up resource value-chain

ERWIDA MAULIA, Nikkei staff writer | Indonesia

JAKARTA -- Indonesian President Joko Widodo is betting big that a halt on exports of the resource-rich country's raw minerals slated for next month will draw investment, bringing more jobs and economic development.

It is a gamble that he has arguably won before, following a 2020 ban on shipments of unprocessed nickel ore. Indonesia accounts for nearly half of the world's nickel production, and the policy change succeeded in drawing Chinese and other investors hungry for the key input in electric vehicle batteries and stainless steel.

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