Indonesia will halt exports of bauxite ore from June to improve its processing and refining industry for the chief component of aluminum, President Joko Widodo said Wednesday.
The president said the measure is projected to increase state revenue from 21 trillion rupiah ($1.35 billion) to 62 trillion rupiah.
Indonesia is one of the world's largest producers of bauxite. In 2021, 25.8 million tons of the ore were produced in the Southeast Asian country, according to the country's statistics agency. China was the biggest buyer, with exports to the country reaching 19.9 million tons in the same year.
Since 2020, Indonesia has banned nickel ore exports, boosting the export value of nickel products processed in the country.
Instead of refining aluminum domestically, Japan imports the raw metal from refiners globally, including Australia.
