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The Minerals and Coal Directorate General of Indonesia has halted operations for over 1,000 miners due to a failure to submit 2022 work plans, according to Reuters. The suspended miners include over 12 tin miners and 80 coal companies. Also included are several nickel, gold, manganese and bauxite miners. To resume work, the suspended miners must present their 2022 work plans within 60 days. Last month Indonesia revoked the permits of nearly 2,000 companies because of non-compliance. In 2020, Indonesia was the world's largest producer of nickel and was also very important producer of gold, bauxite, tin and other metals. Prices for these metals might be supported if global supplies decrease dramatically if the suspended miners do not submit their work plans in a timely fashion. (2/14/2022)
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AEGIS Insights |
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01/26/2022: AEGIS Factor Matrices: Most important variables affecting metals prices 01/10/2022: Section 232 Tariffs: Most relevant developments (AEGIS Reference) 11/30/2021: Will the Omicron COVID Variant Impact South African Metals Production or Exports? |
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Important Headlines & Economic Data |
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AISI Steel Capability Utilization Rate Investing.com Economic Calendar 2/10/2022: Indonesia suspends operations of more than 1,000 miners |
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| Important Disclosure: Indicative prices are provided for information purposes only, and do not represent a commitment from AEGIS Hedging Solutions LLC ("Aegis") to assist any client to transact at those prices, or at any price, in the future. Aegis makes no guarantee to the accuracy or completeness of such information. Aegis and/or its trading principals do not offer a trading program to clients, nor do they propose guiding or directing a commodity interest account for any client based on any such trading program.
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