Indonesia embraces resource nationalism
It is about to discover that no two metals are alike
Indonesia banned exports of nickel ore in 2020 in a bid to capture more of the metal’s value. So far, so good. Exports of Indonesian nickel products were worth $30bn last year, more than ten times what they were in 2013. Nickel smelters have sprouted around the country, and makers of batteries, in which the metal is a key component, are building factories. On January 17th a cabinet official said the government was close to sealing deals with the world’s two largest makers of electric vehicles (evs), Tesla and byd, to build cars in Indonesia. Flushed with progress, the government is now thinking beyond nickel.
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This article appeared in the Asia section of the print edition under the headline “Full metal jacket”
Asia January 28th 2023
From the January 28th 2023 edition
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