Indonesian president Joko Widodo said his government will consider halting the export of unprocessed copper ores to encourage domestic processing of raw materials in the country’s industrialisation push, following a similar policy on nickel and bauxite.
Speaking at Mandiri Investment Forum 2023, Vietnam news agency (VNA) reported the president announced a ban on all bauxite exports starting in June 2023 under the downstream industry policy, following a similar move on nickel ore exports.
After nickel ore exports were banned several years ago to force the opening of processing plants in Indonesia, the value of nickel export recorded a 30-fold increase from US$1 billion to between US$30 and US$33 billion in 2022.
