BEBATU: Indonesia is planning to “hit the brakes” on the export of all raw commodities in an effort to attract investment in onshore resource processing and create jobs, President Joko Widodo said on Tuesday.
Indonesia has banned a number of unprocessed ore exports including nickel, tin and copper in a bid to encourage downstream industries, including producing batteries for electric vehicles and aluminum industry, among others.
The government is currently conducting a study for the downstreaming of other commodities with a long-term goal of no longer selling just raw materials, the president, who is popularly known as Jokowi, said in an interview in the village of Bebatu on Borneo island.
A new policy would hopefully emerge next year, he said.
“Don’t be surprised. We had nickel (export ban) before. Next year, we may stop bauxite, the next year we may stop something else,” Jokowi said.
Under current regulations, Indonesia will ban bauxite shipments in 2023.
Stopping exports of unprocessed palm oil was being considered, he said, although he declined to provide an estimate of when such policy could be issued.
