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Indonesia altering the nickel market?","is-indonesia-altering-the-nickel-market","article/is-indonesia-altering-the-nickel-market",{"_uid":557,"date":558,"tags":559,"editor":563,"content":573,"excerpt":726,"featured":50,"reporter":727,"_editable":731,"component":732,"seo_title":553,"categories":733,"visibility":742,"author_company":49,"featured_image":743,"seo_description":726,"author_full_name":49,"author_job_title":49,"formattedDate":748,"formattedArticleDate":749},"3b93eee0-29bf-4de9-ae25-edecd4cf8024","2019-01-28 00:00",[560],{"slug":561,"name":562},"indonesia","Indonesia",[564],{"slug":565,"name":566,"content":567},"matthew-bird","Matthew Bird",{"job_title":568,"image":569,"bio":571,"linkedin":572},"Senior Editor - Supply Chains & Data Visualisation",{"filename":570},"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":574,"content":575},"doc",[576,583,588,593,598,603,608,613,618,623,628,633,638,643,648,653,658,663,668,679,684,689,694,699,706,711,716,721],{"type":577,"attrs":578,"content":579},"paragraph",{"textAlign":49},[580],{"text":581,"type":582},"At the end of Q3 2018 a consortium announced plans to build a $700 million nickel processing plant in Indonesia aiming to produce battery-grade nickel chemicals. The joint venture sees major stainless-steel manufacturer Tsingshan, and leading battery materials producer GEM, pair up with a 36% share each.","text",{"type":577,"attrs":584,"content":585},{"textAlign":49},[586],{"text":587,"type":582},"The Chinese-led investment will also see the battery producer CATL taking a 25% share and Japan’s Hanwa receive an 8% interest in the joint venture.",{"type":577,"attrs":589,"content":590},{"textAlign":49},[591],{"text":592,"type":582},"The project, based in Morowali, Indonesia, is expected to produce 50,000 tonnes per annum (tpa) of high purity nickel and 4,000 tpa of cobalt for use in lithium ion batteries, with production beginning in 2021 and ramping up to capacity in 2022.",{"type":577,"attrs":594,"content":595},{"textAlign":49},[596],{"text":597,"type":582},"The material is set for the Chinese market where battery-hungry OEMs are looking to secure supplies of critical materials to meet demand for China’s EV industry.",{"type":577,"attrs":599,"content":600},{"textAlign":49},[601],{"text":602,"type":582},"A number of Indonesian projects are set to come into production in the next few years as the country is attracting investments which is set to see the country’s share of nickel production surge.",{"type":577,"attrs":604,"content":605},{"textAlign":49},[606],{"text":607,"type":582},"The country is currently well-placed to increase its nickel output as a number of global metal producers have shown recent interest in Indonesia’s nickel reserves. In September 2018, for example, Vale and Sumitomo announced that they were conducting a feasibility study to build a nickel processing project in Southeast Sulawesi, from which the companies are looking to produce nickel sulphate for use in batteries.",{"type":577,"attrs":609,"content":610},{"textAlign":49},[611],{"text":612,"type":582},"Indonesian nickel to soar",{"type":577,"attrs":614,"content":615},{"textAlign":49},[616],{"text":617,"type":582},"In 2015 Indonesia was responsible for only 7% of global nickel supply. But we expect Indonesia’s share of global nickel supply to increase dramatically and in 2019 it could account for 27% of global supply, it should sustain this out to 2040 when we expect it to have up to 30% global production.",{"type":577,"attrs":619,"content":620},{"textAlign":49},[621],{"text":622,"type":582},"The rapid growth in Indonesia’s nickel production will likely help the nickel market to stave off any global nickel shortage out to the mid-2020s with EVs adding to demand-side pressures.",{"type":577,"attrs":624,"content":625},{"textAlign":49},[626],{"text":627,"type":582},"The headline figures belie the difficulties producers face when bringing Indonesian nickel to the EV supply chain.",{"type":577,"attrs":629,"content":630},{"textAlign":49},[631],{"text":632,"type":582},"Nickel principally comes from two types of ore: nickel sulphide and nickel laterite. The ore in Indonesia is nickel laterite (either limonite or saprolite). Nickel laterite can be used to produce class 1 nickel for use in batteries but this has been associated with cost over-runs, capex blow-outs and ramp up delays.",{"type":577,"attrs":634,"content":635},{"textAlign":49},[636],{"text":637,"type":582},"During last decade’s boom, Indonesian laterite ore was used to produce NPI – which is used for stainless steel production. At the time, laterite NPI production helped to solve nickel’s supply shortfall, whereas now producers are hoping to use laterite to meet the growing demand coming from the EV industry.",{"type":577,"attrs":639,"content":640},{"textAlign":49},[641],{"text":642,"type":582},"Now there are moves from the likes of Tsingshan to start using Indonesia’s laterite ore to produce nickel sulpate by following a different processing route. This would effectively see a move away from NPI to produce a mixed nickel-cobalt precipitate and ultimately nickel and cobalt sulphates for the battery industry.",{"type":577,"attrs":644,"content":645},{"textAlign":49},[646],{"text":647,"type":582},"To produce nickel sulphate from nickel laterite requires significantly more energy and chemical-heavy processing, commonly through high pressure acid leaching (HPAL). Constructing HPAL operations are known to be time-intensive and the process has increased environmental and capital costs associated with it. This is why to date nickel sulphate producers have typically overlooked countries like Indonesia and the Philippines for nickel sulphate production.",{"type":577,"attrs":649,"content":650},{"textAlign":49},[651],{"text":652,"type":582},"Despite the associated costs a number of projects are looking to use HPAL to process nickel laterite into battery grade nickel sulphate, as with Tsingshan’s Morowali nickel project, to meet increased demand for high-purity nickel from OEMs.",{"type":577,"attrs":654,"content":655},{"textAlign":49},[656],{"text":657,"type":582},"With bold plans to produce battery-grade nickel from Indonesia’s laterite deposits there is an ongoing debate about whether this can be achieved economically.",{"type":577,"attrs":659,"content":660},{"textAlign":49},[661],{"text":662,"type":582},"Industry scepticism",{"type":577,"attrs":664,"content":665},{"textAlign":49},[666],{"text":667,"type":582},"Much of the nickel industry’s established players are sceptical of Tsingshan’s – and other producers – plans to use laterite sources for non-NPI production (this is expanded on in the ‘Nickel – the Often Forgotten Battery Metal’ comment piece on page 11). In particular the $700 million costs, which is half that of similar – or even smaller – projects elsewhere, and the 3-year timeframe, has been refuted by many in the industry as impracticable.",{"type":577,"attrs":669,"content":670},{"textAlign":49},[671,673,675,677],{"text":672,"type":582},"At ",{"text":674,"type":582},"Benchmark Mineral Week ",{"text":676,"type":582},"in October 2018 Anton Berlin,",{"text":678,"type":582},"Marketing Director, Nornickel, paid particular attention to laterite nickel supply.",{"type":577,"attrs":680,"content":681},{"textAlign":49},[682],{"text":683,"type":582},"Mr Berlin said: “in Indonesia and the Philippines it’s laterites. Laterites have three available components: nickel, cobalt and iron. And for technology reasons, you can extract the two you like but you cannot get all three. So you can go the NPI route which most people do and you end up with low grade nickel, and effectively you lose the cobalt units because they end up in stainless steel…The other route you could go is leaching and you could extract the nickel and cobalt but you would probably lose out on iron.”",{"type":577,"attrs":685,"content":686},{"textAlign":49},[687],{"text":688,"type":582},"Mr Berlin was particularly sceptical of the choice by some companies to process laterites into battery-grade nickel, he continued: “if you make an investment you have two options; you can do the NPI, which has lesser capex, you can build it in a couple of years and there’s a nice margin installed, especially if you integrate it with steel-making. Or you can go with a process that’s complicated, which companies have been struggling for 30 years to make more efficient, and it’s high capex, high cost and in effect you get a smaller margin and the question would be why? Why would you spend 10 billion instead of 2 billion and make a smaller margin. I mean you can, but would you do that?”",{"type":577,"attrs":690,"content":691},{"textAlign":49},[692],{"text":693,"type":582},"Indonesian politics",{"type":577,"attrs":695,"content":696},{"textAlign":49},[697],{"text":698,"type":582},"Another issue facing Indonesian nickel mining expansions could be the country’s domestic politics which has a chequered past when it comes to mining. In 2009 Indonesia passed the Mining Law, which paved the way for a 2014 ore export ban mandating that companies must process raw materials before exporting them, despite Indonesia having next to no processing facilities for nickel at the time.",{"type":577,"attrs":700,"content":701},{"textAlign":49},[702,704],{"text":703,"type":582},"The premise behind the ban was to restructure the economy and presumably develop the surrounding industries associated with mining and processing. The policy seemed to be working, as processed nickel exports were on the rise, however, to the surprise of many the ban was",{"text":705,"type":582},"short-lived and by Q1 2017 it had been overturned.",{"type":577,"attrs":707,"content":708},{"textAlign":49},[709],{"text":710,"type":582},"NPI or sulphate growth regardless",{"type":577,"attrs":712,"content":713},{"textAlign":49},[714],{"text":715,"type":582},"As Indonesian nickel production ramps up to account for a quarter of global supply, it will become apparent whether operations such as the Morowali project can successfully produce nickel sulphate.",{"type":577,"attrs":717,"content":718},{"textAlign":49},[719],{"text":720,"type":582},"Future nickel demand growth will come from batteries and ultimately the growing EV industry – albeit starting from a low base. This is partly because of EV production volumes increasing but also because changes in cathode chemistries will lead to thrifting away from cobalt, which will likely see a growing dependence on nickel.",{"type":577,"attrs":722,"content":723},{"textAlign":49},[724],{"text":725,"type":582},"We expect Indonesian nickel to play a key role in shaping EV nickel supply. If these processing projects were to prove too costly to produce sulphate, Indonesia’s abundant laterite supply would still produce NPI, freeing up supply elsewhere to meet battery-grade demand.","At the end of Q3 2018 a consortium announced plans to build a $700 million nickel processing plant in Indonesia aiming to produce battery-grade nickel chemicals. The joint venture sees major stainless-steel manufacturer Tsingshan, and leading battery materials producer GEM, pair up with a 36% share each. The Chinese-led investment will also see the battery […]",[728],{"slug":565,"name":566,"content":729},{"job_title":568,"image":730,"bio":571,"linkedin":572},{"filename":570},"\u003C!--#storyblok#{\"name\": \"article\", \"space\": \"\", \"uid\": \"3b93eee0-29bf-4de9-ae25-edecd4cf8024\", \"id\": \"\"}-->","article",[734,737,740],{"slug":735,"name":736},"batteries","Batteries",{"slug":738,"name":739},"critical-minerals","Critical Minerals",{"slug":741,"name":150},"nickel","private",{"id":49,"alt":744,"name":744,"focus":744,"title":744,"source":744,"filename":745,"copyright":744,"fieldtype":746,"meta_data":747,"is_external_url":51},"","https://a.storyblok.com/f/287943243085208/7b4e5ddd48/bm-istock-961759958-e1548706413503.jpeg","asset",{"alt":744,"title":744,"source":744,"copyright":744},"Jan 28, 2019","28th January 2019",[],[],1792773943460]