INSIGHT-Russia's leading role in the Indonesian mining revolution

Понедельник, 24 марта 2014 0:00 MSK

* Rusal, Norilsk push Jakarta to stick to ore export ban

* Russian giants aided by support for nickel prices

* Ban alarms Japan and China, big buyers of nickel, bauxite

* U.S. firms Newmont and Freeport hurt by new rules

* Russia considers Indonesia smelter, rail investment

By Randy Fabi and Fergus Jensen

JAKARTA, March 24 (Reuters) - Russia's two metal giants have emerged as big winners from Indonesia's new mining law, after leading a drive to get Jakarta to stick to its controversial mineral ore export ban in the face of opposition from miners and Asian buyers.

In its six-month lobbying campaign last year, United Company Rusal and Norilsk Nickel delivered a blunt message to Indonesian officials: We will only invest billions of dollars in smelters if you ban bauxite and nickel ore exports.

The effort seemed to have paid off, despite a denial by Indonesia that it was influenced. When the law came into effect this year, Indonesia enforced a water-tight export ban for only two major minerals - nickel ore and bauxite.   Продолжение...