Bisnis.com, JAKARTA — As the government slashed nickel output quota to 260–270 million tons this year, prices of the key metal used in battery have been climbing steadily. The question now is how the policy shift will shape the outlook for listed nickel miners such as INCO, ANTM, MDKA, and their peers.

The 2026 nickel production quota under the Work Plan and Budget (RKAB) has been set at 260–270 million tons, sharply lower than the 379 million tons approved for 2025.

Bisnis.com, JAKARTA — BlackRock Inc. and The Vanguard Group Inc., the world’s two largest investment firms, have jointly raised stakes in PT Merdeka Copper Gold Tbk. (MDKA), riding the momentum of a global rally in gold and nickel prices.

The rally in gold and nickel has also fueled MDKA’s performance on the Indonesia Stock Exchange (IDX). As of Thursday (1/22/2026), MDKA closed 2.11% lower at Rp3,240. Despite the daily pullback, the stock has surged 42.11% on a year-to-date (YtD) basis.

Bisnis.com, JAKARTA — Shares of nickel producers are extending their gains on Wednesday (1/7/2026), underscoring sustained investor appetite for the sector.

Bloomberg data show PT Vale Indonesia Tbk (INCO) surging 12.44% to Rp6,325 per share, while PT Aneka Tambang Tbk (ANTM) jumped 11.59% to Rp3,850 per share.