Nickel Reserve Advantage Boosts Strong EV Battery Ecosystem in Indonesia

State-owned mining holding company MIND ID said Indonesia will occupy a strategic position in the development of the global electric vehicle ecosystem in the next five years, thanks to its rich nickel reserves and related mineral resources.In the next five years, Indonesia's nickel supply is expected to reach 75% of the world's supply, and currently accounts for 60% of the world's supply. however, the president of MIND ID also admitted that the company is facing a lot of challenges, like the Russian-Ukrainian conflict, the conflict in the Middle East, and the trade war between the U.S. and China, and other global issues.

But viewed another way, these challenges also present opportunities for Indonesia. As Indonesia maintains a relatively neutral stance in international affairs, it is expected to attract industries that are affected by trade war tariffs to relocate their factories to Indonesia, which in turn will become an important industrialization base. Earlier, the company's Director of Portfolio and Business Development also mentioned that MIND ID does not control all strategic mineral commodities, but rather focuses on minerals that support the EV battery ecosystem, and that it already controls at least 14 out of 47 key minerals, working to build a strong framework to support the EV ecosystem.