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PT Weda Bay Nickel has been told to file a 2026 work plan reflecting 12 million wet metric tonnes of annual production and sales, a sharp cut from the 42 million wet metric tonnes permitted for 2025, according to a statement from Eramet.
The company said the 12 million figure was an initial notification and that it would apply promptly for an increase to the 2026 volume.
The Weda Bay complex, the largest in the world, is operated by Eramet and Tsingshan Holding Group and is central to Indonesia’s nickel supply chain, after Jakarta’s ore export ban helped drive heavy investment into domestic processing.
Nickel prices jumped on the news. Three-month nickel on the London Metal Exchange rose 2.2% to $17,880/t and hit $17,980/t, the highest since Jan 30, 2026.
The cut also fits a broader tightening of Indonesia’s approved mining plans for 2026. Indonesian media have cited official comments that national nickel ore work-plan approvals total roughly 260–270 million tonnes, down from 379 million tonnes in 2025, according to Reuters and the Financial Times.
Why it matters: Indonesia is now using permits and quotas as a direct market lever. For investors, that raises the upside to any sustained tightening — and the policy risk that quotas can be revised again. Financial Times
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