APNI Reveals 2025 Nickel Ore Mining Plan, Market Reacts to Potential Production Cut

Published: Jan 23, 2025 16:40

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APNI：The total approved nickel ore mining Work Plan and Budget (RKAB) for 2025 is 298.49 million mt
APNI Secretary General Meidy Katrin Lengkey stated during a meeting with Indonesia's House of Representatives Legislative Body (Baleg DPR RI) on Wednesday, January 22, "Yesterday, we discussed the topic of cutting production to 150 million mt. Just this news alone prompted Macquarie London to issue a statement saying that if the production quota in the Work Plan and Budget (RKAB) is reduced to 150 million mt, nickel prices will return to the level of $20,000 per mt. Meanwhile, today's price is still around $15,000 per mt." Meidy explained that the total approved nickel ore mining Work Plan and Budget (RKAB) for 2025 is 298.49 million mt. On the other hand, Indonesia's current nickel ore production accounts for 63% of global production. This situation has led to a supply surplus in the global nickel market.

The day before, on Tuesday, January 21, Meidy stated in an interview, "Production cuts may target newly established companies that have not yet received government-approved RKABs. For companies that have just submitted applications, they may be subject to re-evaluation. Currently, there are still many companies that have not received approval."

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