On the morning of May 8, 2024, Director for Downstream Strategic Investment Mohammad Faizal ST, MM gave a wonderful speech with the theme of "INDONESIA NICKEL DOWNSTREAM INDUSTRY UPDATE".
Mohammad Faizal ST, MM pointed out that Indonesia is currently developing natural resources towards products with higher added value. For example, the development of nickel ore from natural resources towards manufacturing EV batteries can increase added value. Minerals such as nickel, bauxite, and copper need to be processed and exported.
Mr. Mohammad Faizal ST, MM further proposed that the Indonesian government hopes to support the priority development of the EV battery and stainless steel industry, striving to become the world's best EV battery production country and also the world's top stainless steel production country by 2040.
Next, he introduced the position of China and Indonesia in the global supply chain of battery packs and stainless steel, and continuously innovate to enhance their trade position. Indonesia's nickel reserves are mainly distributed in 79 locations in Southeast Sulawesi, accounting for 35%, 76 locations in the central part of Sulawesi Island, accounting for 17%, and 79 locations in North Maluku accounting for 28%.
Finally, Mr. Mohammad Faizal ST, MM provided an outlook on the downstream nickel industry in Indonesia. Two plants under construction (IBI, LG Energy), planned to be operational as of 2024 with a total production capacity of 377 GWh. At the same time, the construction of supporting facilities such as airports and highways for downstream nickel exploration will be carried out. And build a stainless steel derivative industry with an annual production capacity of 100,000 tonnes to meet Indonesia's domestic and export needs.
Disclaimer: The above content is the personal academic opinion of the guest and does not represent the views and positions of Mysteel.