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Indonesia's nickel reserves under threat: Could run out in 5 years

Julian Ambassadur Shiddiq, Director of Mines and Coal Program Development, said, “The country's nickel reserves could be depleted in 4 to 5 years.

Indonesia's nickel reserves under threat: Could run out in 5 years

Julian Ambassadur Shiddiq, Director of Mining and Coal Program Development at the Indonesian Ministry of Energy and Mineral Resources (ESDM), warned that the country's nickel reserves could be depleted within 4 to 5 years. Stating that the current annual demand for nickel ore is about 1 billion tons, Shiddiq said that the current mining capacity and reserves are not enough to meet this demand.

Nickel prices in Asia edged higher by 1.1% on Monday. Nickel contracts and spot prices on the SHFE commodity exchange gained 1.1% and 0.9%, respectively. This increase was also reflected in stainless steel scrap prices, with grade 304 steel rising by 0.4%.

On the other hand, Indonesian coal offers were under slight pressure due to high coal stocks held by consumers. Exporters are worried about falling prices and are not planning a significant increase in supply until the end of the year.
These developments could pose serious environmental and economic challenges.

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