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London
CNN Business
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Indonesia produces more nickel than any other country. As demand soars for batteries to power the energy transition, that presents a huge opportunity, and the archipelago nation of 276 million people intends to take advantage of it.
With the electric vehicle revolution driving up demand for key battery metals such as nickel, Indonesia has started lobbying for the creation of an OPEC-like group — but instead of governing the export of oil, it would unite top miners, allowing them to align their policies.
The bid looks like a long shot. Canada, another top producer, has said it would be “very unlikely” to participate. The nickel market is also structured very differently than the market for crude oil, with private firms rather than national companies running the show.
“I’m not convinced it’s going to be quite as amenable to a producer…
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