Lithium-ion batteries have catalysed a surge in nickel demand because it’s a crucial ingredient used to power electric vehicles, and Indonesian miners are collaborating to stay a step ahead.
A new company named Indonesia Battery Holding, a joint venture between state-backed Mining Industry Indonesia (MIND ID) and Aneka Tambang, has been created to build a new nickel concentration plant to meet scorching demand. Moreover, the venture plans to fully service China’s and South Korea’s EV industries with chemicals, minerals and recycling. To help with the chemical facet of the operation, MIND ID tapped Pertamina, a state oil company.
Although metrics have yet to be released, Orias Moedak, MIND ID’s chief executive officer, revealed plans to invest in q $2bn high-pressure acid leaching plant and a $3bn rotary kiln electric furnace smelter to efficiently produce large amounts of nickel.
Indonesia, the biggest nickel ore producer in the world, has been making headlines awhile now, with EV brands such as Tesla courting it as a supplier.