The Indonesian government has approved the establishment of the Indonesia Nickel Price Index (INPI), a concept initiated by the Indonesian Nickel Miners Association (APNI), which was aimed to be formed by the end of this year.

The purpose of establishing INPI is to reflect the best domestic nickel price index because Mineral Benchmark Prices (HPM) are still guided by London Metal Exchange (LME) prices.

The chairman of the Association of Indonesian Mining Professionals (PERHAPI) explained that Indonesia is a country with large nickel reserves, so it is appropriate to formulate the nickel index which can be used as a reference for world nickel sales.