Iron ore port stocks decline as steelmakers restock

New Caledonia's government adopted a deliberation on September 14 setting the conditions for exporting raw nickel ore from the Tiébaghi, Koniambo and South Laterite (Sud Latéritique) metallurgical reserves. The measure follows a July 22 law that permits, by derogation, the export of ore that local nickel plants are technically or economically unable to process. Export authorisations can be granted for up to 10 years. Under the new framework, mining companies must first offer the ore to local buyers before exporting it. The offer must be made at a floor price aligned with market conditions. Export applications will also be subject to review by New Caledonia's Mining Foreign Trade Committee (CCEM), while companies must submit annual activity reports and provide information on their financial position and the requested export period. The policy could create an additional outlet for nickel ore that cannot be economically processed domestically, potentially supporting mine utilisation and the financial position of local metallurgical operations. However, the requirement to offer the material locally first means exports remain conditional on domestic processing demand and the competitiveness of local buyers.

Ipilan Nickel Corporation is expanding mining operations at its Palawan nickel project as production and shipments increase. The company is developing additional mining areas and haul-road infrastructure to support higher output and exports to overseas buyers, including China. The project's Mineral Production Sharing Agreement (MPSA) has been renewed through September 2043, providing a longer-term basis for continued mine development. Ipilan is also working to expand its production capacity, which could increase its contribution to Philippine nickel ore supply. The expansion comes as Philippine nickel miners seek to strengthen ore supply for overseas markets amid changing production patterns across key mining regions.

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.