BASE METALS

Musk hosts Widobo, eyes on Indonesian nickel

Elon Musk hosted Indonesian President Joko Widodo at his SpaceX rocket facility in Texas on May 14, adding to speculation that Tesla aims to secure Indonesian-sourced nickel for the electric car firm’s growing battery metals needs.

Musk gets closer to Indonesia

Musk gets closer to Indonesia

Indonesia holds the world's largest nickel reserves and uses those reserves to attract investment in the battery supply chain. 

Tesla has existing supply contracts with Vale to supply nickel from the Brazilian miner's Canadian mines and this year signed an agreement with Talon Metals for 75,000 tonnes a year from the Tamarack nickel project in Minnesota, US. 

Nickel contracts are also in place with BHP in Australia, Chinese refiners and a project in the French territory of New Caledonia. 

Tesla is diversifying its direct supply of key battery metals cobalt, lithium, and nickel and sees strong demand for these critical minerals going forward. 

Tesla has also been linked to building a vehicle manufacturing plant in Indonesia after negotiations with the Indian government struggled to make headway. 

A consortium led by South Korea's LG Energy Solution, the world's second-largest maker of electric vehicle batteries, last month said it planned to invest US$9 billion in Indonesia as part of a deal that would include nickel refining to producing battery cells in Indonesia. 

LG's larger rival, China-based Contemporary Amperex Technology, which is already a supplier to Tesla, entered a similar-sized deal with Jakarta in April this year. 

Musk this month said he did not rule out buying a mine to ensure Tesla was supplied with key battery metals. 

Widodo, who has asked Musk to build a space launch facility in Indonesia, said he had invited Musk to visit the country.

 

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

A growing series of reports, each focused on a key discussion point for the farming sector, brought to you by the Kondinin team.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.

editions

Mining Journal Intelligence Mining Equities Report 2023

Access an exclusive, inside look on the quarterly mining IPOs and secondary raisings data and mining equities performance tables with an annual Stock Exchange Comparisons supplement.

editions

Mining Journal Intelligence World Risk Report 2023 (feat. MineHutte ratings)

A detailed analysis of mining investment risks across 121 jurisdictions globally, built on 11 ‘hard risk’ metrics and an industrywide survey.

editions

Mining Journal Intelligence Global Leadership Report 2023: Social licence

Gain insights into social licence trends and best practices from interviews with 20+ top mining company executives and an industrywide survey.