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Indonesia recommends renewal of Antam's export permit for nickel, bauxite

Indonesia's Ministry of Energy and Mineral Resources recommended the renewal of PT Antam (Persero) Tbk.'s permit to export low grade nickel ore and washed bauxite ore, according to a March 28 release.

In 2017, Antam was granted a permit to export a total of 3.9 million wet tonnes of nickel ore. This year, it is allowed to export 2.7 million wet tonnes of nickel ore and up to 840,000 tonnes of washed bauxite ore.

The company is authorized to export low grade nickel ore and washed bauxite ore for a five-year period.

Antam exported about 2.7 million wet tonnes of nickel ore and 766,000 wet tonnes of washed bauxite ore in 2017. It contributed about 735 billion Indonesian rupiah to the country's government last year in the form of tax duties and nontax state revenue.

As of March 28, US$1 was equivalent to 13,747 Indonesian rupiah.