Nickel producer Vale Indonesia's shares jump 5 pct after ore export ban

JAKARTA Sun Jan 12, 2014 9:11pm EST

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JAKARTA Jan 13 (Reuters) - Shares of PT Vale Indonesia , which processes its nickel ore domestically, rose by as much as 5.65 percent on Monday after the government halted mineral ore exports in an attempt to promote processing in Indonesia.

Shares of state-owned nickel miner PT Aneka Tambang (Antam) were up 1.53 percent in early trading. The broader Jakarta stock exchange was up 1.65 percent.

Indonesian President Susilo Bambang Yudhoyono approved the mineral ore export ban but, in last minute changes at the weekend, diluted it to allow exports of copper, iron ore, lead and zinc concentrates to continue. (Reporting by Eveline Danubrata; Editing by Jonathan Thatcher and Paul Tait)

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