Indonesia controls nickel ore supply to support prices

Indonesia, the world's top nickel producing country, is strategically controlling its nickel ore supply to balance weak demand and support the prices of this crucial mineral, which is primarily used in stainless steel and battery manufacturing, stated Bahlil Lahadalia, the country's mining minister, on Friday.

Since late last year, the Indonesian government has slowed the approval process for the Work Plan and Budget (RKAB), as Mysteel Global reported. The RKABs, which were once approved annually, have now been granted once every three years, though the government will still set annual mining volumes. This slower approval process