Indonesian President Joko Widodo is reported to have said that Indonesia will stop exporting nickel ore despite protests from the European Union. It follows news that Indonesia's policy of banning nickel exports has been taken to the WORLD Trade Organisation by the European Union. Joko stressed that the potential of nickel is very high. This resource is no longer exported as raw materials, but processed into lithium or stainless steel battery anode, further integration with the automotive industry.
With 72m tonnes of nickel reserves, or 52 per cent of the world's total, Indonesia holds the lion's share, according to authoritative publicly available data. The global new energy vehicle industry is in full swing. Nickel, as an important raw material for manufacturing electric vehicle batteries, will be in greater demand in the future. In the first half of this year, nickel supplies in the rest of the world, excluding Indonesia, were 265,000 tonnes lower than in the first half of 2020, a 26 per cent drop. This suggests that the world's nickel supply is heavily dependent on Indonesia. Indonesia's tightening export ban on nickel ore will no doubt push prices up further.
Xingye Mining (000426) has mining rights for a variety of metals, including nickel, copper, zinc, lead, tin, indium, antimony, gold and silver, iron ore, etc. Tanghe Times Mining Co., LTD., a wholly-owned subsidiary of Tanghe Times Mining Co., LTD., has proven reserves of 324,300 tons of nickel ore, which is one of the largest nickel mines in China. Greenme (002340), as the world's leading enterprise in the field of circular economy, has the technology of comprehensive recycling and utilization of cobalt, nickel, copper, tungsten, gold, silver, palladium, rhodium, germanium, rare earth and other rare metals. It is expected to recover more than 55,000 tons of cobalt and nickel metal annually by 2025.
