Indonesian authorities are considering slashing the amount of nickel ore that can be mined in the archipelago in a move to boost slumping prices, Bloomberg reported on December 19.While discussions about the size of the potential cut from the nickel powerhouse country are reportedly ongoing, an unnamed source told the newswire that a quota of 150 million tons is being considered for next year.That would be down from 272 million tons this year.
And it's not just slumping prices troubling the growing pains of the rapidly developing sector."Emissions and environmental impacts continue to be cited as barriers to new investment in Indonesia, though recent renewable energy developments could cut Indonesia's nickel emissions," Australia's Office of the Chief Economist said December 20.