Indonesia's Nickel Reference Price Increases by 3.8% for Early April 2025

The Indonesian Ministry of Energy and Mineral Resources (ESDM) has set the benchmark price for nickel at US$16,126.33 per dry metric tonne (dmt) for the early April 2025 period.

This benchmark is a slight increase of 3.8% from the second period of March 2025, which was US$15,534.62 per dmt.

However, compared to the previous year (year-on-year/yoy), the early April 2025 benchmark price is down 33.43% from the full April 2024 period, which was US$24,227 dmt.

This benchmark price was set through Indonesian Minister of Energy and Mineral Resources Decree (Kepmen ESDM) Number 101.K/MB.01/MEM.B/2025 concerning the Benchmark Price for Metal Minerals and Coal for the First Period of April 2025, on March 27, 2025.

Mining Royalties

According to Katadata, the government is reviewing an increase in royalty rates for the mineral and coal (minerba) sector. Six commodities proposed for royalty rate changes include coal, nickel, copper, gold, silver, and tin.

Director General of Minerba, Tri Winarno, responded to the issue that Indonesia's minerba royalty rates are higher than in other countries. Tri affirmed that this is in line with the amount of expenditure required for mining activities.

"Look, our costs are 40% lower, so it's only natural. Article 33 of the 1945 Constitution states that Indonesia owns the land, water, and all its resources. Meanwhile, in Australia, landowners also have rights to the resources within their land. It's different," said Tri when met at the ESDM Ministry on Monday (March 25, 2025).

(Read Katadata: Comparison of Minerba Royalties in Several Countries, Is Indonesia the Highest?)