JAKARTA — The nickel associations of Indonesia and the Philippines on Friday signed a memorandum of understanding on nickel cooperation, Indonesia’s coordinating ministry of economics said.
Here are some key details about the agreement:
- The agreement includes the exchange of information, joint development of nickel downstream processing technology, and human resource development to support a sustainable nickel industry ecosystem, the ministry said.
- The signing was witnessed by Indonesia’s chief economics minister Airlangga Hartarto and the Philippines’ trade and industry minister Cristina Roque.
- “The Philippines will no longer be only an exporter of raw nickel ore as it will be integrated into a higher-value regional supply chain, while Indonesia will secure a reliable supply for its battery and stainless industries,” Airlangga said.
- Indonesia exported $9.73 billion of nickel products last year, Airlangga said, adding that smelters in Indonesia required supplies with the proper silicon-to-magnesium ratio which can be supplied by the Philippines.
—Reporting by Ananda Teresia, Stefanno Sulaiman; Editing by John Mair
