Closing Nickel Mines Worldwide: What’s the Impact on Indonesia?

If nickel plants continue closing down, Indonesia must take several measures to maintain nickel’s relevance in the global market and continue the downstream program.

Ibeth Nurbaiti

19 Feb 2024 - 17.40
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Closing Nickel Mines Worldwide: What’s the Impact on Indonesia?

Illustration - Nickel production activities at factory facilities owned by PT Aneka Tambang Tbk. (ANTM), Kendari, Southeast Sulawesi./Bisnis/Antarafoto.

Bisnis, JAKARTA — The closure of nickel mines in other countries due to plummeting prices and an oversupply of metal commodities in the global market is believed not to affect the Indonesian nickel market.

However, Indonesia still needs to closely monitor the closure of nickel mines in other countries because if it continues unabated, it would incur an imbalance between demand and supply of nickel worldwide.

So far, Indonesia can still be said to control the global nickel market, contributing more than half of the supply, or about 3.4 million metric tons last year. However, if nickel plants continue closing down, Indonesia must take several measures to maintain nickel’s relevance in the global market and continue the downstream program.

Indonesia is believed to have overall nickel resources reaching 17.7 billion tonnes of ore and 177.8 million tonnes of metal, with reserves of 5.2 billion tonnes of nickel ore and 57 million tonnes of metal.

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© Copyright 2024, Hak Cipta Dilindungi Undang - Undang.