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Indonesian Government: developing downstream Nickel to revive economy
Jul 29,2020 10:14CST
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Source:SMM
The content below was translated by Tencent automatically for reference.

SMM7 March 29: according to recent Indonesian media reports, the Indonesian government has formulated a tourism mining industry-based economic recovery strategy, in attracting investors to Indonesia as an investment destination, downstream is considered to be one of the most strategic policies.

One that is currently being added is the downstream of nickel which can provide significant added value by processing nickel ore into stainless steel plates.

Indonesia's Minister of Ocean and Investment Coordination Luhut Binsar Pandjaitan said that in the past, the annual export value of raw nickel ore was US $612 million, but now the export value of downstream nickel products such as ferronickel and stainless steel is US $6.24 billion.

In the future, lithium batteries in electric vehicles will replace fossil fuels, and the demand for lithium batteries will increase, which is an opportunity for Indonesia, which has the largest reserves of nickel in the world.

'This kind of battery is because we have the largest and best reserves of nickel, and we will be a major player in processing nickel in lithium batteries,'he said.

This is in line with the goal of operating electric vehicles in Europe by 2030, and Luhut also said that Indonesia will also adopt electric vehicles to adapt to the development of electric vehicles.

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