opportunity?, page-8

Surprise, surprise!! Nickel went up last night on the LME.
Indonesia's Gov't are fools, just when they were starting to get investment in smelters.
As I expected there is already a huge backlash and the development of smelters will now be on hold, and looks like there will be lots of suing and legal action.

"A major Chinese investor in Indonesia's smelter industry said on Friday it was considering legal action and would put on hold its expansion plans in the country, after the government abruptly reversed a ban on the export of nickel ore and bauxite."

Virtue Dragon Nickel Industry, a unit of China's De Long Nickel Co Ltd, and other smelter operators are jointly reviewing legal steps against the Indonesian government, Virtue Dragon's general manager Rudi Rusmadi told Reuters by telephone.
Virtue Dragon, which had invested up to 7 trillion rupiah ($525 million) to build smelters in Indonesia, is also putting on hold a further expansion plan worth 25 trillion rupiah due to the policy shift, Rusmadi said.
Chinese companies that have sunk investments into Indonesia "cannot sleep well", Rusmadi said. "They are in a dilemma. They have invested and yet there's no legal certainty."
A civil society group separately plans to challenge Indonesia's new mining rules in the country's Supreme Court, alleging they breach the 2009 mining law, one of the group members told Reuters on Friday."

If nickel stays at these levels , nobody will make much money.
I took a punt and doubled my holding in IGO yesterday.