Indonesia sets price floor for nickel ore to protect small miners
Thejakartapost - The government has put a floor under the price of nickel ore to protect small miners amid Indonesia’s aggressive efforts to develop downstream mining industries.
Energy and Mineral Resources Ministry Regulation No. 11/2020 mandates using Indonesia’s monthly mineral ore benchmark price (HPM) – previously used to calculate mining royalties – as a price floor for transactions. The regulation was issued on April 14 and is to take effect on May 13.
Ministry spokesman Agung Pribadi told The Jakarta Post on Friday (24/4) that the regulation was meant to “ensure nickel sales complied with market prices, so that miners, particularly nickel miners, were guaranteed fair prices.”