Armed with the world’s largest reserves of nickel and a ban on the export of nickel ore, Indonesia is making itself indispensable for the electric vehicle industry, which uses the metal extensively. | Reuters
Indonesia has a total of 21 million tons in proven reserves with nickel content, according to the U.S. Geological Survey. That is nearly a quarter of the world’s reserves.
Indonesia is expected to account for half of the global production increase in nickel between 2021 and 2025, according to the International Energy Agency, as demand for electric vehicles surges. Each vehicle uses up to 40 kg of nickel. Jokowi did not give a timeline for the exports growth but said Indonesia was aiming to establish an integrated supply chain for electric vehicle batteries by 2027.
Last week, Jokowi said he has even offered Tesla a nickel mining concession and tax breaks to invest in the country, and that he was confident a deal would be finalised.
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