Indonesia Wants an “OPEC-like” Organization for Nickel
- Asian nation is the world’s largest producer of nickel
- Canada asked to support nation’s idea for a global alliance
Excavators at a nickel mine in Central Sulawesi, Indonesia.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Indonesia, home to a quarter of the world’s nickel reserves, is proposing the creation of an organization similar to OPEC for the metal used in battery-making to coordinate supply.
Investment Minister Bahlil Lahadalia expressed the idea of creating an “OPEC-like” cartel in a meeting with Canada’s International Trade Minister Mary Ng on the sidelines of the Group of 20 Summit in Bali on Tuesday, according to a ministry statement. The government also held talks with Australia.