On December 21, 2022, President Joko Widodo announced Indonesia’s plan to impose a bauxite export ban starting June 2023 in order to increase domestic processing of its mineral resources. The ban is intended to create more jobs, increase foreign exchange reserves, and create more equitable economic growth. It is also expected to benefit the regions where bauxite reserves are located and the electric vehicle industry. China has been the third largest bauxite supplier to China, but its reliance on Indonesia has been declining. The ban may have a limited impact on China’s aluminum industry. Indonesia is also planning to ban the export of other unprocessed minerals.
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