[{"data":1,"prerenderedAt":724},["ShallowReactive",2],{"ticker-data":3,"story-article/indonesia-tightens-nickel-policies-amid-resource-depletion-concerns":540},[4,52,82,112,148,186,228,259,296,328,371,412,450,481,510],{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":8,"today":9,"last":10,"percentageChange":11,"yearToDate":12,"yearOnYear":13,"oneYearIndexTrend":14,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-27","2wk","Updated every 2 weeks","Lithium",411.01,408.51,0.61,75.85,175.57,[15,16,18,21,24,27,30,33,36,39,42,45],{"date":5,"value":9},{"date":17,"value":10},"2026-05-13",{"date":19,"value":20},"2026-04-29",372.51,{"date":22,"value":23},"2026-04-15",354.35,{"date":25,"value":26},"2026-04-01",346.55,{"date":28,"value":29},"2026-03-18",351.32,{"date":31,"value":32},"2026-03-04",346.6,{"date":34,"value":35},"2026-02-18",324,{"date":37,"value":38},"2026-02-04",337.67,{"date":40,"value":41},"2026-01-21",298.32,{"date":43,"value":44},"2026-01-07",233.73,{"date":46,"value":47},"2025-12-24",203.79,"/lithium/prices",null,false,true,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":53,"today":54,"last":55,"percentageChange":56,"yearToDate":57,"yearOnYear":58,"oneYearIndexTrend":59,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Carbonate",449.85,451.12,-0.28,77.12,181.56,[60,61,62,64,66,68,70,72,74,76,78,80],{"date":5,"value":54},{"date":17,"value":55},{"date":19,"value":63},404.38,{"date":22,"value":65},381.25,{"date":25,"value":67},371.52,{"date":28,"value":69},373.01,{"date":31,"value":71},366.63,{"date":34,"value":73},349.17,{"date":37,"value":75},356.81,{"date":40,"value":77},316.73,{"date":43,"value":79},253.98,{"date":46,"value":81},220.12,{"publishedDate":5,"updateFrequency":6,"updateFrequencyText":7,"label":83,"today":84,"last":85,"percentageChange":86,"yearToDate":87,"yearOnYear":88,"oneYearIndexTrend":89,"url":48,"subscription":49,"isProtected":50,"hasAccess":51},"Lithium Hydroxide",358.35,350.28,2.3,76.32,168.94,[90,91,92,94,96,98,100,102,104,106,108,110],{"date":5,"value":84},{"date":17,"value":85},{"date":19,"value":93},328.09,{"date":22,"value":95},316.95,{"date":25,"value":97},311.86,{"date":28,"value":99},321.41,{"date":31,"value":101},319.14,{"date":34,"value":103},295.42,{"date":37,"value":105},310,{"date":40,"value":107},270.4,{"date":43,"value":109},203.24,{"date":46,"value":111},177.17,{"publishedDate":19,"updateFrequency":113,"updateFrequencyText":114,"label":115,"today":116,"last":117,"percentageChange":118,"yearToDate":119,"yearOnYear":120,"oneYearIndexTrend":121,"url":147,"subscription":49,"isProtected":50,"hasAccess":51},"1wk","Updated every week","Cobalt",244.61,252.61,-3.17,3.99,97.72,[122,123,124,127,129,132,133,136,138,141,143,146],{"date":19,"value":116},{"date":25,"value":117},{"date":125,"value":126},"2026-03-25",252.45,{"date":28,"value":128},252.84,{"date":130,"value":131},"2026-03-11",253.48,{"date":31,"value":126},{"date":134,"value":135},"2026-02-25",256.64,{"date":34,"value":137},255.58,{"date":139,"value":140},"2026-02-11",253.31,{"date":37,"value":142},252.26,{"date":144,"value":145},"2026-01-28",241.15,{"date":40,"value":145},"/cobalt/prices",{"publishedDate":149,"updateFrequency":6,"updateFrequencyText":7,"label":150,"today":151,"last":152,"percentageChange":153,"yearToDate":154,"yearOnYear":155,"oneYearIndexTrend":156,"url":185,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-20","Nickel",135.83,133.05,2.09,12.5,30.68,[157,158,160,163,166,168,170,172,174,176,179,182],{"date":149,"value":151},{"date":159,"value":152},"2026-05-06",{"date":161,"value":162},"2026-04-22",125.43,{"date":164,"value":165},"2026-04-08",124.51,{"date":125,"value":167},123.94,{"date":130,"value":169},123.51,{"date":134,"value":171},122.7,{"date":139,"value":173},123.79,{"date":144,"value":175},128.07,{"date":177,"value":178},"2026-01-14",120.74,{"date":180,"value":181},"2025-12-31",104.29,{"date":183,"value":184},"2025-12-17",103.44,"/nickel/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":189,"today":190,"last":191,"percentageChange":192,"yearToDate":193,"yearOnYear":194,"oneYearIndexTrend":195,"url":227,"subscription":49,"isProtected":50,"hasAccess":51},"2026-04-30","monthly","Natural Graphite",82.93,82.39,0.66,1.66,-0.87,[196,197,199,202,205,207,210,212,215,218,221,224],{"date":187,"value":190},{"date":198,"value":191},"2026-03-31",{"date":200,"value":201},"2026-02-27",81.92,{"date":203,"value":204},"2026-01-30",81.69,{"date":180,"value":206},81.58,{"date":208,"value":209},"2025-11-28",81.35,{"date":211,"value":209},"2025-10-31",{"date":213,"value":214},"2025-09-30",81.74,{"date":216,"value":217},"2025-08-29",81.56,{"date":219,"value":220},"2025-07-31",82.47,{"date":222,"value":223},"2025-06-30",83.13,{"date":225,"value":226},"2025-05-30",83.77,"/natural-graphite/prices",{"publishedDate":187,"updateFrequency":188,"updateFrequencyText":188,"label":229,"today":230,"last":231,"percentageChange":232,"yearToDate":233,"yearOnYear":234,"oneYearIndexTrend":235,"url":258,"subscription":49,"isProtected":50,"hasAccess":51},"Anode Coke",84.01,79.79,5.29,12.86,12.75,[236,237,238,240,242,244,246,248,250,252,254,256],{"date":187,"value":230},{"date":198,"value":231},{"date":200,"value":239},75.72,{"date":203,"value":241},74.61,{"date":180,"value":243},74.44,{"date":208,"value":245},76,{"date":211,"value":247},72.75,{"date":213,"value":249},71.92,{"date":216,"value":251},71.46,{"date":219,"value":253},70.35,{"date":222,"value":255},67.35,{"date":225,"value":257},65.78,"/synthetic-graphite/prices",{"publishedDate":260,"updateFrequency":188,"updateFrequencyText":188,"label":261,"today":262,"last":263,"percentageChange":264,"yearToDate":265,"yearOnYear":265,"oneYearIndexTrend":266,"url":295,"subscription":49,"isProtected":50,"hasAccess":51},"2025-11-17","Anode",77.79,77.96,-0.22,-1.93,[267,268,270,272,274,277,280,282,284,287,290,292],{"date":260,"value":262},{"date":269,"value":263},"2025-10-15",{"date":271,"value":263},"2025-09-15",{"date":273,"value":263},"2025-08-15",{"date":275,"value":276},"2025-07-15",77.93,{"date":278,"value":279},"2025-06-16",78.88,{"date":281,"value":279},"2025-05-15",{"date":283,"value":279},"2025-04-15",{"date":285,"value":286},"2025-03-17",79.89,{"date":288,"value":289},"2025-02-17",78.97,{"date":291,"value":289},"2025-01-15",{"date":293,"value":294},"2024-12-16",79.32,"/anode/prices",{"publishedDate":297,"updateFrequency":188,"updateFrequencyText":188,"label":298,"today":299,"last":300,"percentageChange":301,"yearToDate":301,"yearOnYear":302,"oneYearIndexTrend":303,"url":327,"subscription":49,"isProtected":50,"hasAccess":51},"2026-01-15","Cathode",72.79,64.08,13.59,43.38,[304,305,307,309,311,313,315,317,318,320,322,325],{"date":297,"value":299},{"date":306,"value":300},"2025-12-15",{"date":260,"value":308},62.01,{"date":269,"value":310},53.51,{"date":271,"value":312},49.5,{"date":273,"value":314},47.28,{"date":275,"value":316},46.05,{"date":278,"value":316},{"date":281,"value":319},48.08,{"date":283,"value":321},48.92,{"date":323,"value":324},"2025-03-18",52.79,{"date":288,"value":326},50.86,"/cathode/prices",{"publishedDate":329,"updateFrequency":188,"updateFrequencyText":188,"label":330,"today":331,"last":332,"percentageChange":333,"yearToDate":334,"yearOnYear":335,"oneYearIndexTrend":336,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"2025-03-31","Lithium ion Batteries",74.53,71.3,4.53,-1.6,-20.88,[337,338,340,343,346,349,352,355,358,361,364,367],{"date":329,"value":331},{"date":339,"value":332},"2025-02-28",{"date":341,"value":342},"2025-01-31",71.45,{"date":344,"value":345},"2024-12-31",75.74,{"date":347,"value":348},"2024-11-29",76.98,{"date":350,"value":351},"2024-10-31",77.34,{"date":353,"value":354},"2024-09-30",77.43,{"date":356,"value":357},"2024-08-30",80.56,{"date":359,"value":360},"2024-07-31",82.99,{"date":362,"value":363},"2024-06-28",87.2,{"date":365,"value":366},"2024-05-31",90.7,{"date":368,"value":369},"2024-04-30",93.2,"/battery-gigafactory/prices",{"publishedDate":372,"updateFrequency":6,"updateFrequencyText":7,"label":373,"today":374,"last":375,"percentageChange":376,"yearToDate":377,"yearOnYear":378,"oneYearIndexTrend":379,"url":411,"subscription":49,"isProtected":50,"hasAccess":51},"2026-05-21","Black Mass",54.15,51.47,5.21,25.5,92.33,[380,381,383,386,389,392,395,398,401,404,406,408],{"date":372,"value":374},{"date":382,"value":375},"2026-05-07",{"date":384,"value":385},"2026-04-23",48.63,{"date":387,"value":388},"2026-04-09",48.6,{"date":390,"value":391},"2026-03-26",47.29,{"date":393,"value":394},"2026-03-12",46.18,{"date":396,"value":397},"2026-02-26",45.8,{"date":399,"value":400},"2026-02-12",47.34,{"date":402,"value":403},"2026-01-29",49.57,{"date":297,"value":405},43.15,{"date":180,"value":407},47.05,{"date":409,"value":410},"2025-12-18",41.51,"/recycling/black-mass-prices",{"publishedDate":413,"updateFrequency":188,"updateFrequencyText":188,"label":414,"today":415,"last":416,"percentageChange":417,"yearToDate":418,"yearOnYear":419,"oneYearIndexTrend":420,"url":449,"subscription":49,"isProtected":50,"hasAccess":51},"2026-03-19","Rare Earths",172.27,182.38,-5.54,20.73,54.49,[421,422,424,427,430,432,435,437,440,443,445,447],{"date":413,"value":415},{"date":423,"value":416},"2026-03-05",{"date":425,"value":426},"2026-02-19",179.86,{"date":428,"value":429},"2026-02-05",155.4,{"date":431,"value":429},"2026-01-22",{"date":433,"value":434},"2026-01-08",145.37,{"date":46,"value":436},142.69,{"date":438,"value":439},"2025-12-11",141.67,{"date":441,"value":442},"2025-11-27",136.29,{"date":211,"value":444},132.15,{"date":213,"value":446},139.82,{"date":216,"value":448},145.27,"/rare-earths/prices",{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":451,"today":452,"last":453,"percentageChange":454,"yearToDate":455,"yearOnYear":456,"oneYearIndexTrend":457,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"LFP",111.93,124.92,-10.4,-2.67,-3.42,[458,459,460,462,464,466,469,471,473,475,477,479],{"date":213,"value":452},{"date":216,"value":453},{"date":219,"value":461},109.9,{"date":222,"value":463},100.47,{"date":225,"value":465},103.62,{"date":467,"value":468},"2025-04-30",109.47,{"date":329,"value":470},115.87,{"date":339,"value":472},117.3,{"date":341,"value":474},114.57,{"date":344,"value":476},115,{"date":347,"value":478},117.82,{"date":350,"value":480},111.9,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":482,"today":483,"last":484,"percentageChange":485,"yearToDate":486,"yearOnYear":487,"oneYearIndexTrend":488,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM High-Nickel",99.44,96.91,2.61,2.37,-3.84,[489,490,491,493,495,497,499,501,503,505,506,508],{"date":213,"value":483},{"date":216,"value":484},{"date":219,"value":492},97.09,{"date":222,"value":494},94.93,{"date":225,"value":496},97.13,{"date":467,"value":498},97.89,{"date":329,"value":500},101.4,{"date":339,"value":502},93.25,{"date":341,"value":504},98.94,{"date":344,"value":496},{"date":347,"value":507},98.69,{"date":350,"value":509},101.87,{"publishedDate":213,"updateFrequency":188,"updateFrequencyText":188,"label":511,"today":512,"last":513,"percentageChange":514,"yearToDate":515,"yearOnYear":516,"oneYearIndexTrend":517,"url":370,"subscription":49,"isProtected":50,"hasAccess":51},"NCM Mid-Nickel",103.5,99.73,3.78,13.78,6.78,[518,519,520,522,524,526,528,530,532,534,536,538],{"date":213,"value":512},{"date":216,"value":513},{"date":219,"value":521},99.19,{"date":222,"value":523},96.02,{"date":225,"value":525},98.23,{"date":467,"value":527},99.24,{"date":329,"value":529},101.29,{"date":339,"value":531},87.61,{"date":341,"value":533},92.44,{"date":344,"value":535},90.96,{"date":347,"value":537},92.24,{"date":350,"value":539},95.09,{"id":541,"uuid":542,"name":543,"slug":544,"full_slug":545,"content":546,"relatedArticles":722,"relatedVideos":723},112468798530397,"c6690d0c-8ff6-459a-a73b-aa01c5e44ec9","Indonesia tightens nickel policies amid resource depletion concerns","indonesia-tightens-nickel-policies-amid-resource-depletion-concerns","article/indonesia-tightens-nickel-policies-amid-resource-depletion-concerns",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":695,"featured":51,"reporter":696,"_editable":700,"component":701,"seo_title":543,"categories":702,"visibility":714,"author_company":49,"featured_image":715,"seo_description":695,"author_full_name":49,"author_job_title":49,"formattedDate":720,"formattedArticleDate":721},"789cc9d1-0fdf-47bc-8a0b-1ba46968aa62","2024-10-08 00:00",[550,553],{"slug":551,"name":552},"indonesia","Indonesia",{"slug":554,"name":555},"policy","Policy",[557],{"slug":558,"name":559,"content":560},"didi-bostock","Didi Bostock",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Editor - Energy Transition & Economics",{"filename":563},"https://a.storyblok.com/f/287943243085208/512x512/2c5ca5c1a3/didi-bostock.jpeg","Didi is the Energy Transition & Economics Editor at Benchmark, covering a broad range of markets across the energy transition. His remit spans from downstream sectors such as BESS and EVs, through to midstream such as new technologies and battery production, to upstream critical minerals mining. He also leads on financial analysis across these supply chains, alongside in-depth policy analysis.\n","https://www.linkedin.com/in/didi-bostock-656342198/",{"type":567,"content":568},"doc",[569,576,581,586,591,596,603,616,627,636,641,646,658,663,668,673,678,685,690],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573],{"text":574,"type":575},"Indonesia is implementing stricter measures to manage its nickel resources, to safeguard long-term economic opportunity and improve environmental standards for its sprawling nickel industry.","text",{"type":570,"attrs":577,"content":578},{"textAlign":49},[579],{"text":580,"type":575},"Although officials argue that the country’s high-grade saprolite reserves are due to last until 2035, with lower-grade (limonite) nickel supply extending to 2069, the Indonesia Nickel Miners Association (APNI) has warned that high grade reserves could be depleted in as little as six years.",{"type":570,"attrs":582,"content":583},{"textAlign":49},[584],{"text":585,"type":575},"To address concerns that overproduction could lead to premature resource depletion, the Indonesian government proposed a moratorium on new rotary kiln-electric furnace (RKEF) smelters that produce nickel pig iron (NPI) and ferronickel (FeNi) in August. ",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":575},"“Indonesia is seeking to balance short-term industrial demand with its long-term ambitions to develop a full domestic battery supply chain,” said Jorge Uzcategui, senior nickel analyst at Benchmark.",{"type":570,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":575},"“We expect future supply growth will be dictated by the government’s desire to strike a balance between increasing market share, maintaining some profitable margins, and sustainably extracting finite resources,” he added.",{"type":597,"attrs":598,"content":600},"heading",{"level":599,"textAlign":49},4,[601],{"text":602,"type":575},"Domestic ore tightness",{"type":570,"attrs":604,"content":605},{"textAlign":49},[606,608],{"text":607,"type":575},"Since the implementation of a nickel ore export ban in 2020, investment in downstream capacity has seen Indonesia’s nickel supply more than double to over 2 million tonnes. The region now accounts for over half of global refined output, according to the ",{"text":609,"type":575,"marks":610},"Benchmark Nickel Forecast.",[611],{"type":612,"attrs":613},"link",{"href":614,"uuid":49,"anchor":49,"target":49,"linktype":615},"https://www.benchmarkminerals.com/nickel","url",{"type":570,"attrs":617,"content":618},{"textAlign":49},[619,621],{"text":620,"type":575},"Its rapid growth is raising concerns that overproduction is causing premature depletion of reserves and harming the local environment, ",{"text":622,"type":575,"marks":623},"resulting in the government delaying the approval of new mining quotas in 2024.",[624],{"type":612,"attrs":625},{"href":626,"uuid":49,"anchor":49,"target":49,"linktype":615},"https://source.benchmarkminerals.com/article/how-will-indonesias-mining-quotas-affect-the-nickel-market?_branch_match_id=1544394183961946461&utm_source=facebook&utm_medium=share&_branch_referrer=H4sIAAAAAAAAA8soKSkottLXT0rNS87ITSzKzs3MSy1KzCnWSywo0MvJzMvWL%2FAyyCvN8jMp9E%2ByrytKTUstKsrMS49PKsovL04tsnXOKMrPTQUAgGYOxUgAAAA%3D",{"type":570,"attrs":628,"content":629},{"textAlign":49},[630],{"type":631,"attrs":632},"image",{"id":49,"alt":633,"src":634,"title":49,"source":49,"copyright":49,"meta_data":635},"","https://a.storyblok.com/f/287943243085208/ffbcf5af10/bm-image-71-1325557b0103.png",{},{"type":597,"attrs":637,"content":638},{"level":599,"textAlign":49},[639],{"text":640,"type":575},"Supply pipeline pivots towards batteries",{"type":570,"attrs":642,"content":643},{"textAlign":49},[644],{"text":645,"type":575},"Indonesia’s supply pipeline is increasingly shifting towards products aimed at the lithium ion battery industry. HPAL facilities are viewed as crucial to maximising the long-term economic opportunity presented by this fast-growing industry.",{"type":570,"attrs":647,"content":648},{"textAlign":49},[649,651,656],{"text":650,"type":575},"Beyond 2030, ",{"text":652,"type":575,"marks":653},"Benchmark Nickel Forecast",[654],{"type":612,"attrs":655},{"href":614,"uuid":49,"anchor":49,"target":49,"linktype":615},{"text":657,"type":575},"’s outlook for HPAL nickel supply has risen more than six-fold compared to Q3 2022 projections, driven by the rapid proliferation of the technology in the region. Benchmark is now tracking 37 HPAL projects in Indonesia, with supply expected to reach 1.5 Mt by 2030.",{"type":597,"attrs":659,"content":660},{"level":599,"textAlign":49},[661],{"text":662,"type":575},"How long can Indonesia’s reserves last?",{"type":570,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":575},"Utilising 2022 Reserves and Resources data from Indonesia’s Ministry of Energy and Mineral Resources and current supply estimates, Benchmark has analysed the depletion timeline for the Indonesia’s saprolite and limonite nickel reserves",{"type":570,"attrs":669,"content":670},{"textAlign":49},[671],{"text":672,"type":575},"“Based on current supply assumptions and assuming no further expansion through exploration, high-grade saprolite reserves are projected to last another 13 years, with depletion expected by 2038,” said Uzcategui.",{"type":570,"attrs":674,"content":675},{"textAlign":49},[676],{"text":677,"type":575},"“The more abundant limonite reserves, on the other hand, are estimated to hold out for at least 18 more years,” he added.",{"type":570,"attrs":679,"content":680},{"textAlign":49},[681],{"type":631,"attrs":682},{"id":49,"alt":633,"src":683,"title":49,"source":49,"copyright":49,"meta_data":684},"https://lh7-rt.googleusercontent.com/docsz/AD_4nXeJh-YPx2N3CawM4y1g-U4Jy2RHpQLrbNHUCprfJ7s9a8WON0niNeBlGIWek98QUjdcTYhiApYRq2g3KuKRB02BaGmlNpg7ltloJX4VC563hBV2Idlc6mde_RnJkzbfpptR4TDpCEmGbRNQEO6LyXlTNI5s?key=MYuVVFc8-k3NejRS7cenlw",{},{"type":570,"attrs":686,"content":687},{"textAlign":49},[688],{"text":689,"type":575},"Once Measured and Indicated (M&I) Resources are taken into consideration, the analysis indicates that saprolite production could be extended by just one additional year, pushing depletion to 2039. ",{"type":570,"attrs":691,"content":692},{"textAlign":49},[693],{"text":694,"type":575},"However, from an M&I resource perspective, limonite ores could sustain production for another 44 years, with depletion not expected until 2069 – in line estimates provided by Indonesian government officials.","Indonesia is implementing stricter measures to manage its nickel resources, to safeguard long-term economic opportunity and improve environmental standards for its sprawling nickel industry. Although officials argue that the country’s high-grade saprolite reserves are due to last until 2035, with lower-grade (limonite) nickel supply extending to 2069, the Indonesia Nickel Miners Association (APNI) has warned […]",[697],{"slug":558,"name":559,"content":698},{"job_title":561,"image":699,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"789cc9d1-0fdf-47bc-8a0b-1ba46968aa62\", \"id\": \"\"}-->","article",[703,706,709,711],{"slug":704,"name":705},"critical-minerals","Critical Minerals",{"slug":707,"name":708},"geopolitics","Geopolitics",{"slug":710,"name":150},"nickel",{"slug":712,"name":713},"sustainability","Sustainability","private",{"id":49,"alt":716,"name":633,"focus":633,"title":716,"source":633,"filename":717,"copyright":633,"fieldtype":718,"meta_data":719,"is_external_url":51},"Indonesia flag.","https://a.storyblok.com/f/287943243085208/0bb3f48db1/bm-indonesiaflag.jpg","asset",{"alt":716,"title":716,"source":633,"copyright":633},"Oct 08, 2024","8th October 2024",[],[],1787071418257]