Indonesia is squeezing supplies of nickel ore to protect smaller local miners as the market for the battery metal endures a prolonged slump, according to Eramet SA.
The latest report published by the World Metal Statistics Bureau (WBMS) shows that in September 2024, the global refined nickel production was 287,896 tons, the consumption was 285,062 tons, and the supply surplus was 2,834 tons.
PT Aneka Tambang Tbk. (ANTM) forecasts nickel ore production to reach 11-11.5 million metric tons by the end of 2024. This year, the state-owned mining company received a production license for up to 12 million tons of nickel ore.
The Director of PT TBS Energi Utama Tbk. (TOBA), Juli Oktarina, confirmed that the operations of the company's three coal mines will cease by 2027 at the latest. This closure is due to the depletion of the mines' reserves (fully mined out) and is part of TBS's...
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