|Bid||2,550.00 x 0|
|Ask||2,560.00 x 0|
|Day's Range||2,510.00 - 2,570.00|
|52 Week Range||1,835.00 - 3,630.00|
|PE Ratio (TTM)||N/A|
|Dividend & Yield||N/A (N/A)|
|1y Target Est||0.20|
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 is considering allowing miners to negotiate an extension of their operating permits five years before expiry, rather than two years currently, the energy and mining minister said on Thursday. "The negotiation for the extension may not be two years, perhaps it can be five years before the contracts end," Ignasius Jonan told reporters. Freeport welcomed the news and will cooperate with the government, said its Indonesia spokesman, Riza Pratama.
The Indonesian government plans to revise a mining regulation to allow miners to start contract extension talks five to ten years before a concession contract's expiry, at least doubling the time allowed ...