Eramet (France), partner shareholder in PT Weda Bay Nickel (WBN) with Tsingshan (China) and Aneka Tambang (ANTM), told investors on Wednesday (Feb 11) that Indonesian authorities have only approved nickel ore production quota of 12 million WMT this year, dropped 62.5% from last year’s initial volume granted and 71.4% below the revised plan.

Ministry of energy and mineral resources (ESDM) has finally set nickel ore production quota between 260 million and 270 million WMT this year, which will be in the range of last year’s actual production. 

The government has recently identified eight mining blocks with significant rare earth elements (REE) potential while planning to launch two research projects to develop processing technology.

Fuel shortages at several Shell-branded gas stations have reignited an old but unresolved question in downstream energy sector: is the country truly committed to competition, or does stability still trump market fairness?

Nickel dropped 1.91% to US$18,235 in the London Metal Exchange (LME) Tuesday (Jan 27) on persistent surplus outlook and doubts over Indonesian government’s plan to significantly cut production of nickel ores. 

Freeport McMoRan, co-owner of PT Freeport Indonesia (PTFI), the world’s largest copper and gold mine, has just released operational and financial data for full year 2025, where it posted net profit of US$2.2 billion, increased from US$1.89 billion in 2024 despite downfall of PT Freeport Indonesia following suspension of mining activities in Grasberg, Papua.

Credibility of a policy pretty much depends on its transparency. Energy and mineral resources ministry talked about a policy to cut production of nickel starting January 2026, but nearly one month is gone, most are still left in the dark about how the policy is or will be implemented.