JakartaPost-Sept 18, 2023
Indonesia may see its nickel reserves depleted in less than two decades as a result of high annual production amid increased demand from smelting facilities, a senior minister has warned. Energy and Mineral Resources Minister Arifin Tasrif has forecast that at current nickel ore consumption, the world’s largest nickel producer has around 15 years until its deposits run out. The minister told reporters on Friday he did not rule out the possibility there could be a longer reserve life if the country “was not wasteful in the use of nickel.” To further extend the reserves, the ministry will continue to attract more investment for exploration projects and develop recycling facilities for electric vehicle (EV) batteries, he said. The country is setting itself up as one of the world’s EV hubs, banking on its huge nickel reserves, which are deemed essential to produce EV batteries. Indonesia has a total of 22.3 billion tons of nickel ore reserves, consisting of proven reserves and estimated reserves of 5.3 billion and 17 billion tons, respectively, according to Arifin, referring to the weight of the ore. However, experts say the exact nickel content in ore is projected to be far smaller than the figure used by the government. Putu Rusta Adijaya, a researcher at The Indonesian Institute (TII), said the forecast was a much-needed alarm call that Indonesia should start extracting its natural resources more carefully. “There needs to be a measurable study of how many smelters actually need to be built. If [Indonesia] overbuilds [nickel-processing facilities], [it will cause] a decline in nickel reserves due to over-mining [and an increase in] environmental risks,” he said in a statement issued on Monday. Read more at: https://www.thejakartapost.com/business/2023/08/24/australia-wants-eu-investment-in-critical-minerals-but-first-a-free-trade-agreement.html.
