Meidy Katrin, a Secretary General of the Indonesia Nickel Miners Association (APNI), said at the APAC (9th) Stainless Steel Industry Conference 2024 that Indonesia planned to impose a new export ban on 12 mineral resources, including cobalt, coal, copper, bauxite, and silicon, as well as 16 different non-mineral commodities, a similar restriction on nickel ore exports implemented before.

The decision was to promote the development in the domestic downstream industries, and it would be likely to attract investments valued at up to US$618 billion.

Indonesia's coal reserve ranks tenth in the world, and it has a copper reserve of 51 million tons, accounting for 6.1% of the world's total. The nickel reserve ranks the world’s first, accounting for 52% of the world, totaling 72 million tons.