AUZ 0.00% 0.9¢ australian mines limited

[IMG] THU AUG 8, 2019 / 9:22 AM EDT UPDATE 1-Indonesian nickel...

  1. 510 Posts.
    lightbulb Created with Sketch. 376

    THU AUG 8, 2019 / 9:22 AM EDT
    UPDATE 1-Indonesian nickel miners urge govt not to bring forward 2022 ore export ban
    * Nickel price rose to 16-mth high on talk of earlier export ban

    * Earlier export ban will stall ongoing smelter projects -assoc

    * (Adds more details)

    Miners rely on their exports revenue to fund their smelter projects, she said.

    Lengkey said the ban could be moved forward to this year. She also said the group understands that draft of the revision has been drawn up.

    Bambang Gatot Ariyono, director general of mineral and coal at Indonesia's mining ministry, was asked earlier on Thursday if there was a plan for any change, but told Reuters he did not want to comment on something that is "uncertain."

    Certain existing smelters will benefit if the government moves forward the deadline of the ban, said a nickel mining executive who declined to be named.

    "They can control the prices of ores from domestic miners," the executive said.

    Lengkey said domestic smelters are asking for higher grade nickel ores and pay low price for low grade nickel ore, below the government's benchmark mineral price for nickel.

    The miners group, which has 281 members, has requested a meeting with President Joko Widodo to ask the government to regulate the domestic nickel price.

    Indonesia currently has 13 operating nickel smelters with input capacity of 24.52 million tonnes. Government data showed that 22 more nickel miners are currently under development with additional capacity of 46.33 million tonnes.
 
watchlist Created with Sketch. Add AUZ (ASX) to my watchlist
(20min delay)
Last
0.9¢
Change
0.000(0.00%)
Mkt cap ! $12.58M
Open High Low Value Volume
0.9¢ 0.9¢ 0.9¢ $13.73K 1.528M

Buyers (Bids)

No. Vol. Price($)
28 7636857 0.8¢
 

Sellers (Offers)

Price($) Vol. No.
0.9¢ 1734242 8
View Market Depth
Last trade - 16.10pm 26/07/2024 (20 minute delay) ?
AUZ (ASX) Chart
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.