How China Took Over Indonesia’s Nickel Industry To Fuel Its EVs
Indonesia has become the world’s leading producer of nickel, supplying over 40% of global demand crucial for electric vehicle batteries. This surge is driven by partnerships with China, which has improved local refining capabilities. Meanwhile, the United States faces challenges with limited nickel supply, mining just 17,000 metric tons in 2023 compared to Indonesia’s 1.8 million metric tons. Elon Musk has emphasized the need for increased nickel production, highlighting its importance for Tesla and the EV sector. Companies like Talon Metals have been working on opening a new nickel mine in Minnesota, aiming to address the challenges of limited nickel supply in the U.S. CNBC visited a remote area in Sulawesi, Indonesia to understand the impact of nickel mining on locals’ lives, and to find out why China and Indonesia together have disrupted the entire nickel industry.
