Indonesia to monitor fulfillment of nickel demand
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Update time : 2023-09-18 16:33:22
The Indonesian government recently pledged to monitor the fulfillment of nickel demand, especially the supply of high-grade nickel raw materials required for battery production should be guaranteed in this way. Nickel demand will continue to grow as the electric vehicle (EV) industry grows.
It was reported that Indonesia’s nickel reserves may be exhausted in around ten years due to strong domestic demand and the continuous addition of smelting capacity. Besides, the exploration for new deposits would also not progress. Compared to last year, Indonesia's nickel imports increased by more than 100%.
Agus Gumiwang Kartasasmita, the Minister of Industry, said that the Indonesian government is encouraging the development of downstream industries to increase the added value of domestic mineral raw materials, adding that there are currently 38 independent nickel smelters operating under the guidance of the Ministry of Industry, with an investment value of up to US$15.8 billion.
