Minister Bahlil Lahadalia, noting that many existing foundries are already producing nickel pig iron or ferronickel, reported that Indonesia should prioritize using ore reserves to create higher-value materials, including for the production of batteries for electric vehicles.
Indonesia banned the export of unprocessed nickel ore in 2020 to support the development of nickel smelting.
The government reported that the export value of processed nickel products last year was $30 billion, that is, ten times higher than the export value of nickel four years ago.
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