|Day's Range||715.00 - 725.00|
|52 Week Range||595.00 - 1,005.00|
|PE Ratio (TTM)||N/A|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Indonesia introduced new rules on Thursday that will allow exports of nickel ore and bauxite and concentrates of other minerals under certain conditions in a sweeping policy shift by the key global supplier. A ban on unprocessed ore exports was imposed in 2014 to spur higher value smelting industries, but the government of Southeast Asia's biggest economy has faced a hefty budget deficit and missed its 2016 revenue target by $17.6 billion.
Indonesia's government is drafting a regulation that could ease a looming export ban for not only copper concentrates, but also partly processed or raw nickel and bauxite, the Jakarta Post reported, citing a draft regulation. Under the draft, unprocessed gold, silver, tin and chromium would remain on the export ban list, the paper said. Energy and Mining ministry officials could not immediately be reached for comment, but a spokesman last week said the ministry was in talks with the Coordinating Ministry for Economic Affairs to try to reach a solution on easing the ban.
Indonesia will cut the royalty charged on sales of processed and refined nickel to 2 percent, a mining ministry official said on Tuesday, part of a revision of government rules on non-tax revenue from the coal and minerals sector. The revision is needed to encourage more miners to develop smelters, said Coal and Minerals Director General Bambang Gatot, referring to a government drive to develop downstream industries and increase returns from Indonesia's mineral resources. The royalty, paid by miners to the government, is currently 4 percent of each sale.