Jakarta, Indonesia Sentinel — Indonesia’s nickel downstream program is positioning the country as the world’s largest nickel exporter, according to Minister of Energy and Mineral Resources, Bahlil Lahadalia.
The program has significantly boosted Indonesia’s nickel export value, from just US$3.3 billion (IDR 49.98 trillion) in 2018 to US$34 billion (IDR 515 trillion) in 2023.
Bahlil revealed that with continued growth, nickel export value could reach US$40 billion (IDR 606 trillion), a milestone that could solidify Indonesia’s position as the top global nickel exporter. “If the export value reaches US$40 billion, it will cement Indonesia’s role as the largest nickel exporter.”
Indonesia has gained recognition from major countries like China, the U.S., and European nations for its rapid growth in nickel exports, achieved within just five years. Bahlil emphasized that the nickel downstream program is only one part of a broader economic growth strategy that includes job creation.
President Joko Widodo also highlighted Indonesia’s success in nickel exports during the inauguration of PT Borneo Alumina Indonesia’s Smelter Grade Alumina Refinery (SGAR) in West Kalimantan. In 2023, nickel exports from the downstream program reached US$34.8 billion.
Jokowi reiterated that Indonesia’s ban on raw material exports, particularly nickel, initially faced international resistance, including a dispute with the European Union at the WTO. However, there has been no similar pushback regarding Indonesia’s bauxite export ban, which he attributed to global geopolitical and economic issues.
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The nickel downstream program has been a key component of Indonesia’s economic transformation, demonstrating the potential of resource-based industries to generate significant value and economic growth.
(Ray)
