Indonesia discovers a number of potential nickel deposits.

On August 2nd, the Geological Survey of Indonesia's Ministry of Energy and Mineral Resources announced that it had identified at least 100 more locations with untapped nickel reserves.

The survey results help solidify Indonesia's position as a leading global producer of nickel – a key metal in the production of electric vehicle batteries. (Source: Pulitzer Center)

Muhammad Wafid, head of the Geological Survey under Indonesia's Ministry of Energy and Mineral Resources, said recent discoveries indicate at least 100 new sites with reserves of this mineral, opening up opportunities for future exploitation. This is a positive sign, as many believed Indonesia's nickel reserves would be depleted in the coming years.

Last year, Indonesia produced 1.8 million tons of nickel, accounting for half of the world's output. Exports of this commodity bring in $33.5 billion annually for the Southeast Asian nation.

A shortage of grade 1 nickel for electric vehicle battery manufacturing is expected to begin in 2029 and worsen in the following year. This assessment was made by Allan Ray Restauro, a metals and minerals analyst at energy research firm BloombergNEF, at the Indonesia Miner event in Jakarta last June.

Despite slowing growth in recent years, electric vehicle sales are expected to continue increasing for many years to come, driving demand for lithium-ion batteries. Consequently, demand for type 1 nickel, or high-purity nickel – the primary raw material for these batteries – is also rising.

Source: https://baoquocte.vn/indonesia-phat-hien-ha-ng-loat-mo-nickel-tie-m-nang-281122.html