Weda Bay Mine, co-owned by Eramet, Tsingshan and Antam, has suspended operations for maintenance amid steep quota cuts, marking a critical shift in Indonesia’s nickel policy.
The mine’s annual mining quota fell from 42 million wet tons in 2025 to 12 million in 2026 (a 71% drop). Rapid early-year ore exhaustion forced the shutdown. Global nickel pricing is now dictated by Indonesian regulatory limits instead of mineral reserves.
Indonesia tightened quotas mainly to seize global nickel pricing power. Past overexpansion caused oversupply and falling LME nickel prices; the country switched mining permits to yearly quota control to manage supply intentionally.
