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Commodities

Indonesia state company to acquire stake in nickel miner

Southeast Asian nation intent on playing key role in EV battery supply chain

JAKARTA -- Indonesia's state-owned mining holding company will acquire a 20% stake in the local subsidiary of Brazilian mining giant Vale, operator of the world's largest nickel mine on the island of Sulawesi. 

Indonesia is keen to expand control over nickel production as global demand for the commodity, used as batteries in electric vehicles, rises.

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