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Nickel-rich Indonesia draws global suppliers of EV battery materials

BASF and Sumitomo Metal Mining tap world's largest reserves amid ore export ban

A worker at a nickel processing plant: Indonesia has banned the export of nickel ore to encourage companies to process the metal domestically instead.   © Reuters

JAKARTA/TOKYO -- From Germany-based BASF to Japan's Sumitomo Metal Mining, overseas companies are rushing to set up nickel-processing facilities in Indonesia as the country bans exports of raw ore.

Nickel is a critical part of electric-vehicle batteries, and Indonesia hopes to leverage its rich reserves to establish a domestic battery supply chain. But aggressive policies by the world's largest producer of the metal have also raised concerns over the negative impact of resource nationalism.

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