Singapore | Indonesia is preparing to throw a grenade into the global bauxite market by banning exports of the ore used in aluminium as South-East Asia’s largest economy doubles down on protectionist policies to boost refining and advanced manufacturing at home.

Indonesia’s Investment Minister, Bahlil Lahadalia, confirmed in remarks at the World Economic Forum in Davos that bauxite exports would stop in June. Indonesia wants to move its exports up the value chain by increasing its bauxite refining capacity and production of alumina.