Indonesia announces significantly lower nickel RKAB quotas

The Indonesian Ministry of Energy and Mineral Resources (ESDM) has set a 2026 nickel ore mining quota (RKAB) of 260–270 million wmt. This is notably lower than the approved 2025 quota of 379 million wmt, which was initially announced at just under 300 million wmt before additional permits were granted later in the year. The reduced RKAB quota reflects government efforts to manage supply growth, support nickel prices, and conserve domestic resources. Expectations of lower quotas and their potential impact on Indonesian supply have been a key driver of the recent rally in nickel prices. LME nickel prices rose from just above $14,000/t in mid‑December to more than $17,000/t on 11 February 2026.