Friday, March 1, 2024

Indonesia wants more than a nickel for natural resources

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Author: James Guild, RSIS Indonesian Minister of Investment Bahlil Lahadalia suggested that Indonesia is looking into forming an OPEC-style cartel for nickel and other inputs used in battery production. Nickel is becoming a hot commodity as it is a key input in the manufacture of lithium-ion batteries needed for electric vehicles (EVs) — and Indonesia has the world’s largest nickel ore deposits. Given that demand for EVs is expected to balloon in the coming years, countries rich in natural resources are exploring the most expeditious ways to capitalise on the situation. The idea for an OPEC-style cartel reflects the Indonesian…

Source link : Indonesia wants more than a nickel for natural resources by East Asia Forum

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