Minister says RP has yet to response to proposed nickel cartel

By Thomas Sembiring

Petromindo

Luhut Panjaitan, Indonesian Coordinating Minister for Maritime Affairs, which among others oversees the Ministry of Energy and Mineral Resources, said the Philippines (RP), a major nickel producing country, has yet to respond to Indonesia?s proposal to set up a cartel similar to the Oil Petroleum Exporting Countries (OPEC) to help influence global price of the commodity.

?I have not yet received response from them (the Philippines),? Luhut said on Monday, without elaborating.

Luhut in October of last year launched a discourse for Indonesia, also a major nickel producing country, to set up a nickel cartel together with the Philippines.

He said that Indonesia and the Philippines jointly control about 60 percent of global nickel reserves, and thus should be able to influence global price of the commodity, instead of the price being determined at the London Metal Exchange.

Editing by Reiner Simanjuntak