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According to the Indonesian Deputy Minister of Investments and Maritime Communications Septian Hario Seto, the Indonesian authorities are considering the possibility of introducing export duties on ferronickel and nickel pig iron as early as this year. Thus, a 2% export duty may be introduced if the price of nickel exceeds $15,000 per ton. The duty rate will then grow in sync with the rise in nickel prices.
The country's government believes that the decision to impose export duties on the above-mentioned products should encourage producers to carry out a higher processing of products before export, otherwise nickel ore reserves may be quickly depleted.
