Supply Chain & Raw Materials

Indonesia Is Consolidating Its Dominance In The Nickel Industry Indonesia Ni exports have increased from $4B to $35B

NICKEL CURTAILMENT POLICY 56

TOP NICKEL PRODUCERS 2024

NICKEL RESERVES Millions mt)

44 smelters are currently in operation and 26 are still under construction. This condition pushes down Nickel prices in 2024 as low-cost supply floods the market. To mitigate the oversupply condition and risks that could undermine investments and the countryʼs lead in the market, Indonesia has:

Imposed a moratorium on RKEF Nickel Pig Iron smelters

Considered removing the tax holiday for RKEF smelters

Considered a future policy that favors higher-grade nickel smelters HPAL, which is relevant for the battery industry) Nickel ore production in 2024 also had bureaucratic delays, resulting in massive imports from the Philippines.

Australia

New Caledonia

Russia

Canada

ESG COMPLIANCE

Philippines

Indonesia

Source: S&P Global, SMM

Indonesia is working to design ESG frameworks tailored to its local conditions, balancing sustainable nickel production with global market demands, and environmental responsibilities.

Extracted from the PDF; charts and images may read imperfectly.