Scrap gold and silver up, Platinum drops on 2nd June, 2015

Indonesia’s Ministry of Energy and Mineral Resources (ESDM) has issued Kepmen ESDM No. 365.K/MB.01/MEM.B/2026, tightening requirements on the use of mining-service contractors by mineral and coal mining companies. Under the regulation, IUP/IUPK holders are required to prioritise licensed mining-service companies (IUJP) located in the same regency/city as the mining operation. The use of subsidiaries or affiliated companies as mining contractors is restricted and requires approval from the Minister of ESDM, including arrangements involving direct shareholding or common ultimate beneficial ownership. Applications are subject to a review process, while exemptions may apply to government-assigned activities, including National Strategic Projects, construction of processing and refining facilities, and activities supporting domestic mineral and coal requirements. For the nickel sector, the regulation does not directly change RKAB quotas or nickel ore pricing. However, nickel mining groups may need to review existing affiliated-contractor arrangements, while the new requirements could affect contractor selection, mining costs and operational arrangements.

【SMM Nickel Flash】Sinergi Lestari Targets 2 Million mt of Nickel Ore Trading in 2026 Indonesia-based Sinergi Lestari plans to trade approximately 2 million mt of nickel ore in 2026, according to Petromindo. The trading target comes amid tighter domestic nickel ore availability following adjustments to Indonesia’s 2026 mining quotas. Increased trading activity could provide additional channels for moving ore from miners to domestic nickel-processing facilities. The development highlights the growing role of ore traders in Indonesia’s nickel supply chain as smelters continue to secure feedstock amid constraints on domestic ore availability.

Hinatuan Mining Corporation’s Tagana-an Nickel Project in Surigao del Norte, Philippines, is expected to have economically recoverable reserves sufficient to sustain commercial mining operations only until the end of October 2026, according to a Philippine Stock Exchange filing. The company plans to begin activities under its Final Mine Rehabilitation and Decommissioning Plan in January 2027 following the planned cessation of commercial operations. Hinatuan Mining will continue operating its Manicani Island nickel project in Eastern Samar. The end of commercial operations at Tagana-an could reduce Philippine nickel ore supply from November, although the company stated that the planned cessation currently has no material impact on its overall business.