Indonesia identifies over 100 new potential nickel reserve sites
There are at least 100 additional sites in Indonesia with the potential to contain nickel reserves that remain unexplored, according to recent findings by the Geological Agency of the Energy and Mineral Resources Ministry.
"Many say that our nickel reserves will run out in the coming years, but our findings indicate there are at least 100 new locations that have the potential for further exploration," said Muhammad Wafid, head of the Geological Agency, on Thursday, according to local media.
The findings further solidify Indonesia's position as the leading global producer of nickel, an essential component for electric vehicle batteries. The exploration for new deposits will persist, Wafid noted, Xinhua news agency reported.
Last year, Indonesia produced 1.8 million metric tons of nickel, which represented half of the world's production. Concurrently, the archipelagic nation generated $33.5 billion in revenue from exporting this commodity.
