Hours after investment minister Bahlil Lahadalia announced the stoppage of nickel ore export effective October 29, ahead of initial schedule of January 1st, 2020, coordinating minister for the economy Airlangga Hartarto issued a statement declaring the government will stick to the initial plan.

Minister of investment and head of Investment Coordinating Agency (BKPM) Bahlil Lahadalia claimed that the ministry, coordinating ministry for maritime affairs, Nickel Miners Association (APNI), and Indonesian Processing and Refining Association (AP3I) have agreed to accelerate implementation of nickel ore export ban from January 1st, 2020 to October 29, 2019.

Unlike Vale Indonesia (INCO), which enjoyed strong performance in third quarter, Aneka Tambang (ANTM) suffered 31.8% fall in net profit despite 24.3% growth in sales revenues. As a result, the subsidiary of INALUM booked net profit of Rp561 billion only in the first nine months of 2019, down 11.1% from the corresponding period last year.

At least ten companies listed on Australia Stock Exchange (ASX) attended the Australian Nickel Conference today. Their presentation materials provided to ASX this morning suggesting strong optimism about the future of electric vehicles (EVs) despite correction of LME nickel price rom US$18,000 to US$17,405 per ton yesterday following disappointing reports about EV sales in China.

Shares of small company GCCP Resources Ltd soared by 71.43% on the Singapore Exchange (SGX) Friday (October 11) following the announcement of a potential backdoor listing of one oil palm plantation group in Indonesia.

Stainless steel is still the single largest market for nickel. Unlike crude steel, world production of stainless steel grew 1.9% in the first half of 2019, mainly supported by the world’s largest producer China, whose output grew significantly by 8.5% to 14.35 million tons or 55% of total world production.

INALUM, which acquired 51% shares of PT Freeport Indonesia, suffered Rp287.26 billion of losses in the first half of 2019 against net profit of Rp4.27 trillion in the corresponding period last year, among others due to substantial increase in finance costs related to acquisition of the copper and gold mining company.

Aneka Tambang, subsidiary of mining giant INALUM, which is engaged in gold, nickel, bauxite, and alumina business, has just released its financial results for the period ended June 30, 2019. The Company booked net profit of Rp365.8 billion in the first half, improved from Rp344.4 billion in the corresponding period last year, but mainly due to non-cash forex gain of Rp136 billion.

Oil prices edged lower on Friday, amid concerns of slowing global demand growth and a faster-than-expected recovery in Saudi oil production. Also, the International Energy Agency said on Friday that it might cut its growth forecasts for global oil demand for 2019 and...

Against all odds, SGX-listed coal miner Geo Energy Resources Ltd, which has operations Indonesia, decided to grow its assets through acquisition of new mines. Other than targeting coal mining assets in East Kalimantan, the company has recently entered into agreements to acquire majority shareholding in two coal mines in South Sumatra.