Abstract: Indonesia’s nickel export ban is a pivotal policy aimed at promoting the development of its domestic nickel industry chain and enhancing its position in the global supply chain. As a strategic mineral resource, nickel plays a vital role in fields such as stainless steel production and electric vehicle batteries. This paper examines the policy process, driving factors, and global impacts of the export ban through an analysis of policy documents and statistical data. The study finds that the implementation of the Indonesia’s nickel ore export ban has gone through three phases: initiation, relaxation, and tightening. Driven by a combination of resource nationalism, the Joko government’s battery industry strategy, and the threat of depletion of high-grade nickel, Indonesia has implemented the ban and succeeded in attracting a large amount of foreign investment, which has fueled the rapid development of high value-added industries such as smelting and battery manufacturing. The ban marks Indonesia’s transformation from a traditional resource exporter to a central player in the global nickel value chain. Taking the Morowali Industrial Park as an example, the nickel ore ban has become a typical case of policy effectiveness by attracting a large amount of foreign investment to promote the rapid development of the regional economy and realize a significant increase in gross regional product. However, Indonesia’s nickel ore export ban has also brought about many negative impacts. It has not only impacted the global nickel supply chain, but also aggravated the international nickel resource market’s concern about resource shortages and price volatility. In particular, it has triggered trade friction with the EU and prompted the EU to take retaliatory measures. The study’s conclusions suggest that Indonesia’s nickel ore export ban has not only boosted the country’s economic growth and industrial upgrading, but also strengthened its strategic position in the global nickel industry chain. Indonesia should optimize its policy design while actively responding to the complex challenges of international trade relations, so as to provide a stable resource guarantee for global energy.