• 4 minutes Oil Price Editorial: Beware Of Saudi Oil Tanker Sabotage Stories
  • 6 minutes UAE says four vessels subjected to 'sabotage' near Fujairah port
  • 9 minutes Why is Strait of Hormuz the World's Most Important Oil Artery
  • 13 minutes Mueller Report Brings Into Focus Obama's Attempted Coup Against Trump
  • 9 hours California's Oil Industry Collapses Despite Shale Boom
  • 14 hours Knock-Knock: Aircraft Carrier Seen As Barometer Of Tensions With Iran
  • 2 hours Balancing Act---Sanctions, Venezuela, Trade War and Demand
  • 18 hours IMO2020 To scrub or not to scrub
  • 13 hours UK Needs New Wind Turbines
  • 12 hours Will Canada drop Liberals, vote in Conservatives?
  • 5 hours Shale to be profitable in 2019!!!
  • 8 hours Greenpeace Blocks BP HQ
  • 4 hours DUG Rockies: Plenty Of Promise, Despite The Politics
  • 18 hours The Consequences: Full-Blown Trade War Will Push World Towards Recession
  • 15 hours Australian Voters Reject 'Climate Change' Politicians
  • 15 hours Apartheid Is Still There: Post-apartheid South Africa Is World’s Most Unequal Country
  • 14 hours methanol fuel cells
  • 8 hours Get First Access To The Oilprice App!
  • 15 hours Wonders of Shale- Gas,bringing investments and jobs to the US
Alt Text

How To Play A Recovery In Oil Prices?

A realistic correction in the…

Alt Text

This Supermajor Is Leading The Energy Sector

This supermajor has been standing…

Dave Forest

Dave Forest

Dave is Managing Geologist of the Pierce Points Daily E-Letter.

More Info

Trending Discussions

Indonesia Boosts A Couple of Base Metals

For those of you following the Indonesian mineral export saga lately, it looks like we have a final resolution. Sort of.

Reports over the weekend are that Indonesia's politicians have reached a compromise on the proposed ban.

The new export law took effect on Saturday at midnight. Effectively outlawing the shipment of unprocessed mineral products outside of Indonesia. Copper miners like Freeport-McMoRan had reportedly shut down production ahead of this deadline.

But the copper sector got an eleventh-hour reprieve. When lawmakers put through amendments to the export law.

The patch will allow producers of copper, iron, zinc, lead and magnesium to continue exporting unprocessed or semi-processed ore until 2017. Giving these mining companies time to build facilities for final upgrading in order to comply with the new laws.

Such miners will be subject to a higher tax on exports of unprocessed mineral concentrates.

But the news wasn't so rosy for a couple of metals. Namely nickel and alumina.

Indonesia is sticking to its guns on export bans for these commodities. Unprocessed shipments of ore will be banned immediately.

That's a significant development for global markets. Indonesia produced over 15% of the world's nickel in 2012. And 11% of the world's bauxite and alumina.

That supply is now largely in jeopardy. There is some upgrading capacity for nickel in the country, which may allow select producers to keep exporting under the news laws. But it appears the majority of output will be scuttled for the foreseeable future.

Nickel prices are up over 1.5% on the news. Absent some sort of last-minute change to the rules, expect that trend to continue.

Here's to a metal on the rise,

By. Dave Forest




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News