President Joko Widodo (Jokowi) has confirmed that he will stop copper exports in mid-2023 even though the demand is high. This confirms Jokowi’s stance regarding the downstream of several Indonesian mining products, such as Nickel, Bauxite, and Copper.
The Central Bureau of Statistics has released Indonesia’s copper ore export performance. Based on these data, during the January-October 2022 period, Indonesia’s copper ore export volume reached 2.5 million tons, up 13% compared to export volume throughout 2021.
During the January-October 2022 period, the export value of this commodity also reached US$ 7.7 billion, 42% higher than the achievement in 2021. The demand in 2022 is the highest record in the last decade.
Although the performance is improving. Later, Indonesian President Joko Widodo (Jokowi) emphasized that he plans to stop copper exports starting in mid-2023.
The ban actually strengthens the provisions in Law Number 3 of 2020 concerning Mineral and Coal Mining (Minerba) which states that these commodities are prohibited from being exported and that it is mandatory to build downstream domestically three years after the issuance of the Minerba Law.
President Jokowi’s goal is to ban the export of raw ore or minerals abroad as an effort to get large added value downstream.
Jokowi said that Indonesia’s big job going forward would be to build a large system so that mineral raw materials such as nickel, bauxite, copper, and tin could be truly integrated.
Jokowi previously confirmed that he would ban copper exports. The export ban follows two other commodities, namely nickel, and bauxite.
“Although we are afraid that nickel will lose at the WTO, we will continue, instead we will stop bauxite. Then in the middle of the year, we will stop copper,” Jokowi said at the commemoration of the 50th anniversary of PDIP, Tuesday (10/1).