HOW INDONESIA’S NICKEL BAN DESTROY EUROPEAN ECONOMY
by Ashley Robertson / @indonesiadocumentary
According to the United States Geological Survey or USGS report, global nickel production reached 3.3 million metric tons in 2022, with Indonesia being the world's largest nickel producer in 2022. Its total production is estimated to reach 1.6 million metric tons, contributing 48.48% to the total global nickel production throughout last year.
But Indonesia, recently dropped a bombshell by putting the brakes on exporting raw nickel ore. Now, you might be scratching your head, wondering, "What's the big deal?" Well, here's the lowdown: Nickel is like the MVP of many industries, from stainless steel to electric vehicles. It's the stuff that keeps the gears turning.
While Europe's booming automotive industry, charging full speed ahead into the electric vehicle revolution. And Nickel is the crucial ingredient in those sleek EV batteries that we all love to rave about. Without a steady supply, production could grind to a screeching halt, leaving carmakers in the lurch and consumers feeling the pinch. And that's just the tip of the iceberg, folks. The ripple effects of this nickel ban could send shockwaves across multiple sectors, spelling trouble for Europe's economic stability.
Watch the full discussion in the full video.
#indonesia #jokowi #europeanunion
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