Indonesia holds the world’s largest nickel ore reserves and is the world’s top exporter of nickel products, making up about 60 per cent of global supply, with export value growing from US$3.3 billion in 2017 to more than US$33 billion by 2024, according to government data.
It banned exports of raw nickel from 2020 to promote domestic processing industries.
The investment in the four projects at Weda Bay was worth US$3.4 billion, while investment for the six projects is expected to reach US$6.8 billion, investment minister Rosan Roeslani said at the same event on Thursday.
Prabowo also launched first exports of EV batteries at the ceremony.