Septian Hario Seto, the Deputy Minister of the Coordinating Ministry for Maritime and Investment Affairs of Indonesia, said at the SMM Indonesia Nickel-Cobalt conference held in Jakarta that Indonesia is planning to launch a nickel price index by the end of 2023, aiming to moderate volatility related to the London Metal Exchange (LME) benchmarks.

The nickel price index will be used to calculate royalties and any export tax. Indonesia is currently seeking proposals from index providers and will see which is the best.

Meanwhile, Indonesia said it will put off the implementation of the policy to impose export duties on nickel pig iron and high-grade nickel matte.