PT Aneka Tambang Tbk (ANTM.JK)
- Reuters
Indonesian nickel smelters turn to Philippines for ore as local supply tightens
Nickel smelters in top producer Indonesia are making rare purchases of ore from the Philippines to ease tight supplies, people familiar with the matter said, upending trade flows of the raw material and pushing up costs across the supply chain. While mining at other sites continues and Indonesia, which accounts for half of global mined supply, has said there is no shortage of ore, prices have risen about 8% this week, following a 10% surge a week earlier, local buyers say. Some firms are now buying ore from neighbouring Philippines, the world's No. 2 supplier, in the event that new mining quotas are further delayed, said three smelter managers, two nickel traders and a Chinese analyst.
- Reuters
British consortium to invest $9 billion in Indonesia mining, EV batteries, minister says
A British consortium that includes mining giant Glencore will invest about $9 billion in Indonesia's mining and electric vehicle (EV) battery sectors, a minister said on Wednesday, as the resource-rich country tries to lure a host of multinational firms. Indonesia, which has the world's biggest nickel reserves, is keen to develop downstream industries with the ultimate aim of producing batteries and vehicles for the world's biggest electric car manufacturers. Investment Minister Bahlil Lahadalia did not provide a breakdown of the $9 billion but said it would go into an industrial park in the Bantaeng region on Sulawesi island powered by wind energy, with a completion target of September.
