Investor Presentaiton
MERDEKA
COPPER GOLD
Indonesia's Rich Resources and Supportive Government Makes it an
Optimal Country for EV
Indonesia has established itself as the largest nickel producer globally underpinned by its large nickel resource
base and strong government support allowing it develop into a global EV supply chain hub
Indonesia Nickel Reserves (m tonnes)
Indonesia has the largest nickel reserves in the world
Indonesia Nickel Estimated Production
Indonesia to dominate global nickel production by 2026
2,500
60% of global
production by 2026
2,230
60%
2,106
1,878
2,000
1,447
1,701
83
88
190
88
245
90
290
50%
40%
21
21
Kt Ni
1,500
76
980
30%
65
1,000
691
65
1,490
1,597
1,769
1,846
20%
7
500
72
1,303
903
10%
5
617
0
0%
Indonesia
Australia
Russia
Philippines
China
2020
2021
2022
2023
2024
2025
2026
% of Global
Reserves
NPI
HPAL Products
Ni Matte
FeNi
22%
22%
7%
5%
3%
Indonesia Share of
World Supply (RHS)
Indonesia Government Strategic Initiatives to Support the Development of EV Battery Supply Chain
Nickel ore export ban: Indonesia first
announced a nickel ore export ban in
2014 to take control of natural
resources and encourage the
production of domestic value-add
products
2014
Nickel Export Ban Relaxation: Ban
was relaxed in 2017 to a quota,
following a budget deficit in 2016, with
plans to fully-reimpose the ban in 2022
Nickel Ban Reinstated: In September
2019, the Indonesian Energy and
Mineral Resources Ministry announced
the reinstatement of the ban on nickel
exports two years early, starting on 1
January 2020
2019
Drawing Investors: Indonesia
effectively stopped shipments of
unprocessed nickel, which attracted
onshore investment from major
Chinese companies
2020
Progressive Export Tax on Nickel
Products: Indonesia's investment
minister is considering imposing a
progressive export tax on low content
nickel products (NPI and Ferronickel)
to further encourage downstream
investments
2022
Source: USGC.gov, CRU, Macquarie Nickel Outlook
2017
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