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Indonesia Trying to Cut China Stakes in New Nickel Projects, FT Reports
Indonesia is the world’s largest nickel producer, accounting for more than half of global supply.
Photographer: Dimas Ardian/BloombergThis article is for subscribers only.
Indonesia’s government is seeking to reduce Chinese participation in new nickel projects to help the industry qualify for US government subsidies, the Financial Times reported, citing a person familiar with the matter.
Government officials have been in discussions with investors to build new smelters in which Chinese companies have less than a 25% stake, the newspaper reported. Septian Hario Seto, deputy co-ordinating minister for investment and mining, confirmed the country’s efforts, according to the FT.