https://www.northernminer.com/
Chinese investors have managed to gain control over most nickel refining capacity in Indonesia, the world’s biggest producer of the mineral – a dominance that may give China a greater say over future prices while crowding out rivals, a new report suggests.
Chinese companies or shareholders ultimately control at least three-quarters of Indonesia’s nickel refining capacity, though the holdings are hidden behind “layers of shell companies” to mask foreign ownership, according to an analysis prepared by the Washington-based Center for Advanced Defence Studies.
Global demand for nickel is expected to almost double to as many as 6 million tonnes by 2040 as clean energy technologies gain in popularity. The mineral is used in the production of electric vehicle batteries and in the making of stainless steel, among other applications. Indonesia is the world’s No. 2 stainless steel producer.
For the rest of this article: https://www.northernminer.com/news/chinese-investors-control-75-of-indonesia-nickel-refining-capacity-report/1003875455/