The Indonesian government recently became the controlling shareholder of PT Vale Indonesia, a mining company that has been operating in the nickel-rich island of Sulawesi for decades. The government, through state-owned holding company MIND ID, already owned 20 percent of PT Vale Indonesia and in February they completed a deal to acquire an additional 14 … Read more
Indonesian police on Monday named two Chinese nationals as suspects in the explosion of a smelting furnace at a Chinese-owned nickel plant on Sulawesi Island that killed 21 workers and injured dozens of others. Four Chinese and nine Indonesian workers died instantly on December 24 when the furnace at PT Indonesia Tsingshan Stainless Steel, or … Read more
At a time of global energy transition, the world is racing to secure critical mineral supplies such as cobalt, nickel, and lithium, so much so that critical minerals security has turned into a strategic geo-economic issue. The electric vehicle (EV) market alone saw unprecedentedly rapid growth of 60 percent in 2022, exceeding 10 million units … Read more
In a global system characterized by geopolitical turbulence, Indonesia stands as a rising economy and key player in international affairs. Over the past two decades, Indonesia has experienced strong economic growth. By 2030, the thriving republic is projected to become one of the world’s seven largest economies and to enter the top five by 2050. … Read more
Indonesia’s President Joko “Jokowi” Widodo urged Joe Biden to “do more” to stop Israel’s ruthless assaults on the Gaza Strip, as the two leaders met in Washington and announced a major upgrade to their bilateral relationship. Biden welcomed the Indonesian leader to the White House yesterday, in a bid to strengthen trade and defense ties … Read more
On Monday, Indonesian President Joko Widodo will hold a bilateral meeting with U.S. President Joe Biden at the White House on Monday, prior to next week’s APEC Leaders’ Meeting in San Francisco. There will no doubt be a number of issues on the agenda, but according to some reports, one shared interest is both countries’ … Read more
In April 2023, the United States government introduced guidance for the $7,500 tax credit for the purchase of each electric vehicle (EV) under the Inflation Reduction Act (IRA) 2022. To be eligible for half of the credit, a portion of the “critical minerals” used in the EV’s battery must come from a country with which … Read more
Advertisement Leaping up from his chair, Rachmat Kaimuddin begins to sketch out on a whiteboard the various stages of the complex supply chain for electric vehicles (EVs). From his office in the Coordinating Ministry of Maritime Affairs and Investment, Indonesia’s point man for its EV industrial policy lays out a vision of nickel ore flowing … Read more
Pacific Money | Economy | Southeast Asia As with similar recent restrictions in Indonesia, the goal is to stimulate the development of a domestic processing industry. Advertisement Malaysia plans to ban exports of rare earth raw materials in a bid to boost domestic processing of the valuable elements, Prime Minister Anwar Ibrahim said yesterday, echoing a recent string of … Read more
Advertisement Yesterday, a senior Indonesian official announced that the U.S. electric vehicle (EV) manufacturer Tesla plans to invest in the manufacture of battery materials in the country. According to a report from Reuters, Coordinating Minister of Maritime and Investment Affairs Luhut Binsar Pandjaitan said in an Instagram post that he met with Tesla chief Elon … Read more