Indonesia doesn’t need China to keep its nickel industry afloat
This is the first of a multi-part series on Indonesia’s nickel industry. China’s nickel investors in Indonesia are sending a familiar warning: reverse regulatory uncertainty, or they’ll potentially walk. However, that tacit warning rests on an assumption — that Jakarta has no institutions capable of running its own nickel industry — that no longer holds.
- ▪This is the first of a multi-part series on Indonesia’s nickel industry.
- ▪China’s nickel investors in Indonesia are sending a familiar warning: reverse regulatory uncertainty, or they’ll potentially walk.
- ▪However, that tacit warning rests on an assumption — that Jakarta has no institutions capable of running its own nickel industry — that no longer holds.
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This is the first of a multi-part series on Indonesia’s nickel industry. China’s nickel investors in Indonesia are sending a familiar warning: reverse regulatory uncertainty, or they’ll potentially walk. However, that tacit warning rests on an assumption — that Jakarta has no institutions capable of running its own nickel industry — that no longer holds. In May, the China Chamber of Commerce in Indonesia sent an open letter to President Prabowo Subianto warning that abrupt policy shifts — from mining-quota cuts to new foreign-exchange retention rules — were undermining investor confidence. Major Chinese smelters have recently throttled output and put expansion plans on hold in response.
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