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Indonesian mineral export ban drives up Australia nickel miners
January 12, 2014 / 11:42 PM / 4 years ago

Indonesian mineral export ban drives up Australia nickel miners

SYDNEY, Jan 13 (Reuters) - Shares in Australian nickel miner Western Areas climbed nearly 10 percent on expectations global nickel prices will rise after a ban on mineral exports by Indonesia.

Indonesian President Susilo Bambang Yudhoyono signed off on the ban of a range raw mineral ores over the weekend in order to force home companies to build processing plants on Indonesian soil, with the ban particularly affecting shipments of nickel pig iron to China.

Western Areas was quoted 9.4 percent higher at A$2.56, while fellow Australian nickel miner Mincor Resources was 4.4 percent higher at A$0.58. (Reporting by James Regan; Editing by Ed Davies)

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