Indonesia Vows to Protect Foreign Investments
Indonesian President Prabowo Subianto promised to safeguard all investments during the launch of multi-billion dollar nickel and aluminium projects. The event included the first EV battery exports from facilities backed by Chinese partners.
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Indonesia President Prabowo Subianto launched $3.4B in new nickel and aluminium projects on Thursday, pledging to protect foreign investments from China and other nations. The initiative follows business community warnings that tighter mining quotas and higher taxes are threatening operational costs. Indonesia accounts for 60% of global nickel supply, with export value climbing from $3.3B in 2017 to $33B by 2024.
