Reported 2 days ago
Indonesia is contemplating significant reductions in its nickel mining quotas to address plummeting prices of the metal, which is essential for battery production. The Energy and Mineral Resources Ministry may lower the allowable mining volume from 272 million tons this year to 150 million tons next year. This potential decision, aimed at balancing the market amid decreased demand and oversupply, could face opposition from finance and investment sectors due to its impact on tax revenues and foreign investment.
Source: YAHOO