JAKARTA: Indonesia’s sprawling nickel industry is creaking under the weight of its own success, as a production surge drags down prices and a shortage of ore forces even the country’s own smelters to curb output.
The South-East Asian nation’s metal boom over the past decade has convulsed the industry, catching many off-guard with its speed and scale. Cheap coal-based power and Chinese technology that makes the most of bountiful low-grade reserves have helped Indonesia to control more than half of the world’s nickel production - a win for Jakarta governments eager to boost manufacturing.
