Indonesia proposes to Canada setting up OPEC-like group for nickel – by Staff (Reuters – November 16, 2022)

JAKARTA, Nov 16 (Reuters) – Indonesia has proposed in talks with Canada establishing an OPEC-like organisation for nickel producing countries, the Southeast Asian nation’s investment ministry said in a statement on Wednesday.

Indonesia and Canada are the first and sixth biggest nickel producers in the world, respectively. The proposal was made when Indonesian Investment Minister Bahlil Lahadalia met Canada’s International Trade Minister Mary Ng on Tuesday on the sideline of the G20 summit in Bali.

The minister raised the prospect of trying to “coordinate and integrate nickel policy” like the Organization of the Petroleum Exporting Countries (OPEC), the group of 13 oil-producing nations that often determine global output, the statement said.

Bahlil previously raised the idea of such a grouping in an interview with the Financial Times last month, though at the time he said Indonesia was still formulating a structure and had yet to approach other nickel producers.

For the rest of this article: