Indonesia is the largest nickel mining and refining country. The third largest democracy has voted.
Indonesia is and remains an important partner country for Germany and the EU. And Indonesia has been able to score points with its economic development in recent years. It could soon become one of the largest economies in the world. Economic growth is around five percent per year, incomes are rising, and poverty is falling massively. The country is also known as a battery nickel power plant. This is because lithium-ion batteries need nickel. Indonesian nickel mine operators need mining quotas, which are subject to an award process that was already delayed at the end of last year. If mining permits continue to be delayed, this could lead to a nickel shortage, which would drive up the nickel price.
According to forecasts, South America could become the most important lithium production region by 2027. Argentina in particular is involved. Important battery components are still coming from China, Korea or the USA. Chinese companies in particular are also keen to invest in Europe. Increasing electromobility and growing electrification are dependent on raw materials such as nickel, cobalt and lithium. Although prices are currently falling on the battery raw materials market and lithium supply is expected to increase in 2024, the price of lithium is forecast to rise again as cost-intensive production volumes are reduced. And once the price has bottomed out, especially for lithium, things will start to pick up again.
The Canada Nickel Company - https://www.commodity-tv.com/ondemand/companies/profil/canada-nickel-company-inc/ -, for example, relies on nickel and cobalt. Agnico Eagle is involved in its Crawford project in Canada, which speaks for quality.
Gama Explorations - https://www.commodity-tv.com/ondemand/companies/profil/gama-explorations-inc/ - has projects in Quebec and the Northwest Territories. They contain lithium, nickel and copper.
Current company information and press releases from Gama Explorations (- https://www.resource-capital.ch/en/companies/gama-explorations-inc/ -) and from the Canada Nickel Company (- https://www.resource-capital.ch/en/companies/canada-nickel-company-inc/ -).
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