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Indonesia Revises Down outlook for Nickel smelter capacity by 2022; LME Nickel Up 1.5%

6 Dec 2019 1:19 pm
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Mumbai (Commodities Control) - Indonesia expects to have 29 nickel smelters operating by 2022, with total annual input capacity of nearly 70 million tonnes. The statement comes from Indonesia’s Mining Ministry, as they make a downward revision in November projection of ore refining capacity.

The Ministry has scaled back its estimate of 91 million tonnes of input capacity at 37 operating smelters in 2021 made last month.

The revision comes in the wake of slow progress with smelters’ construction. The Ministry cleared that 11 of the 29 smelters are already in operation, with annual input capacity of nearly 27 million tonnes.

The government also revised down its projection for bauxite smelters to nine, from 11 previously.

The government is pushing for domestic ore processing to add value to its exports.

Indonesia, a major exporter of nickel ore, is set to stop exports of raw nickel in January. Exports of other ore and concentrates will stop in 2022.

Overall, the government expects a total of 52 mineral processing plants in 2022 with total combined investment estimated at $20.39 billion.

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