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Indonesia Weighs Deep Cuts to Nickel Mining to Boost Prices
- Energy ministry considering big reduction, people familiar say
- Prices of the battery metal have slumped on booming supply
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Indonesia is considering deep cuts to nickel mining quotas as it seeks to boost slumping prices of the battery metal, according to people familiar with the matter.
The Energy and Mineral Resources Ministry is looking at lowering the amount of nickel ore allowed to be mined next year to 150 million tons, said the people, who asked not to be named as the deliberations are private. That would be a sharp drop from 272 million tons this year.