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decade","indonesia-cobalt-supply-to-push-market-into-surplus-this-decade","article/indonesia-cobalt-supply-to-push-market-into-surplus-this-decade",{"_uid":547,"date":548,"tags":549,"editor":556,"content":566,"excerpt":689,"featured":51,"reporter":690,"_editable":694,"component":695,"seo_title":543,"categories":696,"visibility":702,"author_company":49,"featured_image":703,"seo_description":689,"author_full_name":49,"author_job_title":49,"formattedDate":707,"formattedArticleDate":708},"6f75369f-4786-4c55-857a-63ab6ec874c5","2022-10-26 00:00",[550,553],{"slug":551,"name":552},"data-visualisation","Data Visualisation",{"slug":554,"name":555},"indonesia","Indonesia",[557],{"slug":558,"name":559,"content":560},"matthew-bird","Matthew Bird",{"job_title":561,"image":562,"bio":564,"linkedin":565},"Senior Editor - Supply Chains & Data Visualisation",{"filename":563},"https://a.storyblok.com/f/287943243085208/512x512/14738033ec/matthew-bird.jpeg","Matthew writes, edits and produces content for Benchmark Intelligence and Benchmark Source across the whole mine to grid supply chain. He also acts as a liaison to the press. He has a PhD in electrochemistry from the University of Nottingham.","https://www.linkedin.com/in/birdmatthew/",{"type":567,"content":568},"doc",[569,576,581,586,591,596,601,610,617,622,627,632,637,642,647,652,657,664,669,674,679,684],{"type":570,"attrs":571,"content":572},"paragraph",{"textAlign":49},[573],{"text":574,"type":575},"Indonesia’s cobalt production could increase more than thirty-fold this decade, making it the second-largest producer after the Democratic Republic of the Congo and helping to ease concerns about a shortfall of the battery metal.","text",{"type":570,"attrs":577,"content":578},{"textAlign":49},[579],{"text":580,"type":575},"Supply from the South-East Asian country is expected to reach 76,345 tonnes a year by the end of 2030, from just 2,367 tonnes last year, according to Benchmark’s latest Cobalt Forecast.",{"type":570,"attrs":582,"content":583},{"textAlign":49},[584],{"text":585,"type":575},"That will help push the global cobalt market into a surplus this decade, just as sales of electric vehicles are set to acclerate. It will also help diversify supply away from the DRC, which currently dominates global production with 71% of supply.",{"type":570,"attrs":587,"content":588},{"textAlign":49},[589],{"text":590,"type":575},"“The sheer number and scale of the projects that have been announced in Indonesia this year has led us to revise our market outlook, as we now project the cobalt market to remain in oversupply until the end of the decade,” according to Benchmark’s Cobalt Forecast.",{"type":570,"attrs":592,"content":593},{"textAlign":49},[594],{"text":595,"type":575},"Indonesia’s share of global cobalt supply will increase from 1% last year to 19% by the end of 2030, according to Benchmark. DRC’s share, in contrast, will fall to 61% by the end of the decade even as the overall market grows.",{"type":570,"attrs":597,"content":598},{"textAlign":49},[599],{"text":600,"type":575},"“We are still forecasting a long term deficit, but the medium term view is quite different,” Harry Fisher, an analyst at Benchmark said.",{"type":570,"attrs":602,"content":603},{"textAlign":49},[604],{"type":605,"attrs":606},"image",{"id":49,"alt":607,"src":608,"title":49,"source":49,"copyright":49,"meta_data":609},"","https://a.storyblok.com/f/287943243085208/75056ea5f2/bm-indonesia-cobalt.png",{},{"type":611,"attrs":612,"content":614},"heading",{"level":613,"textAlign":49},4,[615],{"text":616,"type":575},"HPAL Projects Drive Growth",{"type":570,"attrs":618,"content":619},{"textAlign":49},[620],{"text":621,"type":575},"The growth in Indonesia’s cobalt is being driven by high-pressure acid leach (HPAL) projects that convert laterite ore into a mixed nickel-cobalt hydroxide precipitate (MHP) intermediate.",{"type":570,"attrs":623,"content":624},{"textAlign":49},[625],{"text":626,"type":575},"Benchmark is now tracking 38 cobalt-producing operations and projects in Indonesia, up from 10 in 2021.",{"type":570,"attrs":628,"content":629},{"textAlign":49},[630],{"text":631,"type":575},"“Indonesia has been interesting because up until recently, they basically didn’t produce any cobalt and the country has been a major nickel producer for many years,” said Harry Fisher, a Benchmark analyst.",{"type":570,"attrs":633,"content":634},{"textAlign":49},[635],{"text":636,"type":575},"“But the start of these HPAL facilities has enabled them to quickly build out large capacities for nickel and cobalt from the laterite deposits.”",{"type":570,"attrs":638,"content":639},{"textAlign":49},[640],{"text":641,"type":575},"These include Halmahera Persada Lygend, a joint venture between Indonesia’s Harita Group and China’s Ningbo Lygend. The JV’s HPAL plant is located at Kawasi village in North Maluku province, Indonesia.",{"type":570,"attrs":643,"content":644},{"textAlign":49},[645],{"text":646,"type":575},"There’s also PT Huayue, a joint venture between Tsingshan Holding Group and China Molybdenum Co, which started production last year.",{"type":570,"attrs":648,"content":649},{"textAlign":49},[650],{"text":651,"type":575},"PT QMB New Energy Material, a JV between GEM, CATL and EcoPro BM, started production of the first phase of its HPAL project in Central Sulawesi last month.",{"type":570,"attrs":653,"content":654},{"textAlign":49},[655],{"text":656,"type":575},"Further, Chinese mining major, Zhejiang Huayou Cobalt and mining giant, Vale Indonesia, announced in April and September plans to build two collaborative HPAL projects in South Sulawesi and Southeast Sulawesi, Indonesia respectively.",{"type":570,"attrs":658,"content":659},{"textAlign":49},[660,662],{"text":661,"type":575},"In addition, last month Nanjing Hanrui Cobalt (Hanrui), announced plans",{"text":663,"type":575},"to build an HPAL project in Morowali county, with a nameplate capacity of 7,500 tpa of cobalt contained in MHP.",{"type":570,"attrs":665,"content":666},{"textAlign":49},[667],{"text":668,"type":575},"Before China’s investments HPAL, as a technology, had a fairly rocky history as there were a number of facilities that missed their deadlines and went significantly over budget, Fisher said.",{"type":570,"attrs":670,"content":671},{"textAlign":49},[672],{"text":673,"type":575},"“There was a lot of scepticism from across the industry when these new HPAL facilities were announced in Indonesia. But that’s been proven wrong, really, by the success so far of the two existing producers that started last year,” said Fisher.",{"type":611,"attrs":675,"content":676},{"level":613,"textAlign":49},[677],{"text":678,"type":575},"Chinese money in Indonesia",{"type":570,"attrs":680,"content":681},{"textAlign":49},[682],{"text":683,"type":575},"Of the 38 projects in Indonesia that Benchmark currently tracks, at least 26 are those that have some or the other kind of Chinese ownership.",{"type":570,"attrs":685,"content":686},{"textAlign":49},[687],{"text":688,"type":575},"“A lot of the money’s coming from China and that is what led to the success. There is a very strong supply chain between Indonesia and China. And that’s enabled them to quite successfully start this from scratch,” said Fisher.","Indonesia’s cobalt production could increase more than thirty-fold this decade, making it the second-largest producer after the Democratic Republic of the Congo and helping to ease concerns about a shortfall of the battery metal. Supply from the South-East Asian country is expected to reach 76,345 tonnes a year by the end of 2030, from just […]",[691],{"slug":558,"name":559,"content":692},{"job_title":561,"image":693,"bio":564,"linkedin":565},{"filename":563},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"6f75369f-4786-4c55-857a-63ab6ec874c5\", \"id\": \"\"}-->","article",[697,699],{"slug":698,"name":115},"cobalt",{"slug":700,"name":701},"critical-minerals","Critical Minerals","private",{"id":49,"alt":607,"name":607,"focus":607,"title":607,"source":607,"filename":704,"copyright":607,"fieldtype":705,"meta_data":706,"is_external_url":51},"https://a.storyblok.com/f/287943243085208/67cbc079ce/bm-morowali-2.jpg","asset",{"alt":607,"title":607,"source":607,"copyright":607},"Oct 26, 2022","26th October 2022",[],[],1781280284894]