(Reuters) - Shares of Indonesian nickel producer Vale Indonesia jumped as much as 7 percent on Wednesday, extending gains after government halted mineral ore exports in an attempt to promote processing domestically.
Global nickel prices and mining shares rallied in the first trading day after the ban in the world's top nickel ore exporter. The ban on a range of mineral ores took effect on Sunday, five years after a law was passed to force miners to build processing plants.
On Monday afternoon, Vale Indonesia said it may see the size of its mining concession areas cut if it uses nickel ore from smaller domestic miners at its smelters, the chief executive at the country's largest nickel producer told Reuters.
Shares of state-owned metal miner PT Aneka Tambang (Antam) were up 1.53 percent in early trading. Mining sector rose 0.7 percent while the broader Jakarta stock exchange was up 1.5 percent.
