Indonesian EV Battery Development

[Indos]

ITB Students Propose Utilizing Nickel Tailings to Produce Cost-Efficient LFP Battery Cathodes​

Jumat, 20 - Maret - 2026



A team of three students from the Bandung Institute of Technology (ITB) has developed an innovative idea to utilize nickel tailings for the production of Lithium Iron Phosphate (LFP) battery cathodes, aiming to create a more cost-efficient and sustainable solution.

The idea was presented in a mining competition organized by the Mining Engineering Student Association (HMT-ITB). The team—Kornelius Candra Hutabarat, Adyatma Putra Fausta Hariyadi Said, and Nikolo Albertgati Barasa—submitted a project titled:

“Low-Cost LFP Battery Cathode Production from HPAL Nickel Tailings: A Techno-Economic Feasibility Study and Circular Business Model at IMIP Morowali.”

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Turning Waste into Valuable Battery Materials​

The team highlighted the issue of high volumes of tailings generated from the High Pressure Acid Leaching (HPAL) process, commonly used to process low-grade nickel ores in Indonesia.

• Producing 1 ton of nickel can generate up to 100 tons of tailings
• These tailings are largely underutilized

Through literature studies, the team found that HPAL tailings still contain significant amounts of iron (Fe), which can be processed into a key component of LFP battery cathodes.

“We see a huge opportunity in this underutilized waste. The iron content can be processed into an important component for LFP batteries, whose demand continues to grow,” said Kornelius.

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Aligning with Global Energy Transition​

The project is closely linked to global trends, particularly:

• Energy transition
• Net-zero emission targets
• Rapid growth in electric vehicle (EV) demand

While Nickel-Manganese-Cobalt (NMC) batteries still dominate, the market is gradually shifting toward LFP batteries, which are:

• More stable
• Safer
• More cost-efficient

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Integrated Industrial Ecosystem Approach​

The team analyzed not only the technical aspects but also:

• Economic feasibility
• Business model design

They used the IMIP Morowali industrial area as a case study, where integrated infrastructure allows:

• Easier access to raw materials (iron, lithium)
• Reduced logistics costs
• Higher potential profit margins

“We approached this from upstream to downstream—focusing not only on production, but also on how the business model could realistically operate,” the team explained.

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Circular Economy Model​

The team proposed a circular business model, inspired by Indonesia’s Domestic Market Obligation (DMO) policy in coal:

• LFP cathodes are prioritized for domestic use (supporting local content / TKDN)
• Excess production can be exported

This model supports both industrial development and national supply chain resilience.

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Environmental Innovation​

From an environmental perspective, the innovation promotes sustainability by:

• Utilizing waste as raw material
• Reducing environmental impact of tailings

The team also explored:

• Enhanced Volatilization and Recovery (EVR) technology to recycle phosphoric acid
• Lower-temperature processing to improve energy efficiency

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Challenges and Future Development​

Despite its potential, the innovation is still at an early stage:

• Current technology is laboratory-scale
• Requires industrial-scale development

Key challenges include:

• Scaling up the technology
• Managing lithium price volatility

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Economic Potential​

Based on initial simulations:

• Production capacity: ~60,000 tons per year
• Estimated payback period: ~3.2 years

However, these results are based on secondary data and require validation using real industrial data.

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Conclusion​

This project demonstrates a comprehensive approach combining:

• Technical innovation
• Economic feasibility
• Policy alignment

“A good idea is one that is not only innovative, but also relevant and applicable in the real world,” the team stated.

The initiative not only offers a solution for mining waste management, but also opens opportunities to strengthen Indonesia’s domestic battery supply chain using local resources—supporting a more sustainable industrial future.

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3 Mahasiswa ITB Gagas Pemanfaatan Tailing Nikel untuk Produksi Katoda Baterai LFP yang Ramah Biaya

Tim Melange menerima penghargaan sebagai Juara 1 Paper Competition International Mining Students Competition (ISMC) ke-15 di ITB. (Dok. Tim Melange) BANDUNG, itb.ac.id - Tiga mahasiswa Teknik Pertambangan Institut Teknologi Bandung (ITB) angkatan 2024 meraih Juara 1 di ajang Paper Competition...

itb.ac.id

 

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[Indos]

US$4 Billion Investment: GEM Group Builds a Complete Nickel Downstream Industrial Chain in Morowali​

30/03/2026,


PT QMB New Energy Materials in the Morowali Industrial Area operates a high-pressure acid leach (HPAL) hydrometallurgical system to process low-grade laterite nickel ore into electric vehicle battery materials. (Doc. QMB)


KOMPAS.com — For years, nearly half of Indonesia’s nickel reserves went to waste due to the lack of economically viable processing methods.

Low-grade laterite nickel ore, with a content of around 0.8–1.2%, was discarded as mining waste, while the national nickel industry was only capable of processing high-grade saprolite ore above 1.7%.

At that time, with ongoing mining intensity, high-grade ore reserves were estimated to last for less than 20 years.

---

Turning “Waste” into Valuable Assets​

GEM Group (GEM Co., Ltd), a circular economy pioneer from China, saw an opportunity behind this issue. Since 2017, the group has entered Sulawesi and conducted in-depth studies on the potential of low-grade laterite ore that had previously been neglected.

GEM engineers discovered that this low-grade ore contains:

• Nickel
• Cobalt
• Manganese

with a ratio of approximately 10:1:3, which matches the standard composition of high-nickel ternary battery materials.

The ore previously considered waste was in fact an ideal raw material for the electric vehicle (EV) battery industry. However, no technology had been able to process it economically.

Several companies in Morowali had invested hundreds of millions of dollars since 2015 to test hydrometallurgical processing of this ore, but without success.

Globally, similar projects in New Caledonia and Papua New Guinea required investments exceeding US$600 million per 10,000 tons of nickel, yet failed to generate profits.

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Technological Breakthrough​

GEM Group took a different approach. Under the leadership of Chairman and Founder Prof. Xu Kai Hua, the company managed to:

• Reduce investment costs to below US$200 million per 10,000 tons of nickel
• Lower production costs to below US$10,000 per ton of nickel

This achievement was the result of intensive on-site efforts. In 2020, during the pandemic, GEM’s scientific team spent 24 months in Sulawesi, building engineering laboratories from scratch—from 10-liter reactors to 100-cubic-meter systems—to solve the technical challenges of processing low-grade laterite ore.

The results were significant. By September 2022, all production lines in GEM’s Morowali industrial area were fully operational.

The group successfully developed the world’s first independently designed, built, and operated high-pressure acid leach (HPAL) system with a capacity of 1,168 cubic meters, enabling the simultaneous extraction of nickel, cobalt, and manganese in a single integrated process.

---

​

The GEM Group industrial area in Morowali has become the first nickel downstream industrial chain in Indonesia to integrate the processing of laterite ore into global electric vehicle battery materials.​

​

Building a Complete Industrial Chain​

This technological achievement became the foundation for building a complete nickel downstream industrial chain in Indonesia.

Over five years, GEM Group invested US$4 billion to establish a fully integrated production chain in Morowali, including:

• Processing of low-grade laterite ore
• Production of high-purity nickel sulfate crystals
• Production of electrolytic nickel
• Production of ternary precursor materials for EV batteries

Production capacity includes:

• 100,000 tons/year of battery-grade nickel sulfate
• 30,000 tons/year of high-purity nickel plates
• 50,000 tons/year of ternary battery precursor materials

This makes GEM’s Morowali industrial area the first fully integrated, world-class nickel downstream industrial chain in Indonesia.

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Expanding Indonesia’s Role in the Global Supply Chain​

This transformation has had broader impacts. By recovering cobalt from ore containing only 0.08–0.1% cobalt, GEM’s operations have helped position Indonesia as the world’s second-largest cobalt producer.

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Measurable Economic Impact​

The investment and production capacity have begun to generate tangible economic results.

During 2024–2025, GEM’s Morowali industrial area recorded:

• US$2.5 billion in exports
• US$400 million in tax payments
• Creation of more than 10,000 jobs

These figures demonstrate that technology-driven nickel downstreaming can generate real value—not only for industry players but also for:

• Government revenue
• Local employment

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From Raw Material Exporter to Global Supply Chain Player​

This shift has positioned Indonesia not merely as a supplier of raw nickel, but as a core player in the global EV battery material supply chain.

According to internal estimates, this transformation has accelerated Indonesia’s entry into the new energy industry by more than two decades ahead of previous projections.

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QMB as Operational Backbone​

Behind GEM Group’s achievements, PT QMB New Energy Materials, located in the Indonesia Morowali Industrial Park (IMIP), serves as the operational backbone in Indonesia.

QMB represents GEM’s vision of integrating the entire nickel value chain into a sustainable industrial ecosystem, from laterite ore to ready-to-use battery materials for the global EV industry.

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Investasi 4 Miliar Dollar AS, GEM Group Bangun Rantai Industri Hilir Nikel Lengkap di Morowali

GEM Group investasikan 4 miliar dollar AS di Morowali untuk olah bijih nikel kadar rendah menjadi material baterai kendaraan listrik kelas dunia.

biz.kompas.com

 

[Indos]

Indonesia dominates around 60 % of world nickel production.

 

[Indos]

Vale Indonesia Lands $750 Million Green Loan to Fund Nickel Expansion​

Muawwan Daelami
April 24, 2026


Vale Indonesia Chief Executive Officer Bernardus Irmanto during the signing ceremony for the company's $750 million sustainability-linked loan facility in Jakarta on Friday, April 24, 2026. (Vale Indonesia/Handout)


Jakarta. Vale Indonesia (IDX: INCO) secured a $750 million (Rp 12.96 trillion) sustainability-linked loan, with an option to increase the facility by a further $250 million, in a deal that drew strong demand from global lenders as nickel producers position for the energy transition.

The syndicated facility, Vale Indonesia’s first sustainability-linked loan, was oversubscribed by 1.7 times and backed by a consortium of 14 international banks, indicating investor appetite for companies tied to electric-vehicle supply chains and lower-carbon mining.

Chief Executive Officer Bernardus Irmanto said the facility reflects the company’s push to embed sustainability into strategic decision-making. “This marks an important step in aligning our financing strategy with decarbonization goals and long-term growth,” he said in Jakarta on Friday.

The financing will boost the company’s balance sheet while funding expansion projects and aligning operations with global sustainability standards, the Jakarta-listed unit of Vale S.A. said in a statement Friday.

Vale Indonesia Lands $750 Million Green Loan to Fund Nickel Expansion

Vale Indonesia secures a $750 million sustainability-linked loan, drawing strong demand as nickel demand for EV batteries surges globally.

jakartaglobe.id

 

[Indos]

Hormuz Disruption Raises Supply Risks, Vale Says Sulfur Stocks for Nickel Smelters Remain Secure​

Azura Yumna Ramadani Purnama

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JAKARTA — Amid concerns over potential disruption in the Strait of Hormuz, Vale Indonesia stated that its sulfur supply for nickel smelters remains secure, even as global supply risks increase.

Vale is currently developing three major mining and processing projects in Bahodopi, Pomalaa, and Sorowako, integrated with HPAL (High Pressure Acid Leach) facilities, with total investment reaching:

$8.5 billion USD

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Project Progress​

The largest project is:

• IGP Pomalaa
  • Investment: $4.5 billion USD
  • Partners: Ford & Huayou
  • Construction progress:
    • HPAL plant: 65%
    • Mining sector: 72%
  • Workforce: 5,000+ employees
  • Target operation: August 2026
  • Capacity: 120,000 tons MHP/year

Meanwhile:

• IGP Morowali (Bahodopi)
  • Operational since: Q1 2025
  • Phase 1 mining: 100% completed
  • Nickel ore sold (early 2026): 2.2 million tons
  • HPAL plant (GEM & EcoPro):
    • Progress: 27%
    • Capacity: 66,000 tons MHP/year
    • Investment: $2 billion USD
• IGP Sorowako (South Sulawesi)
  • Area: 70,566 hectares
  • Mining progress: 42%
  • HPAL progress: 18%
  • Capacity: 60,000 tons MHP/year
  • Target operation: 2027

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Global Sulfur Supply Risk​

Around:

• 50% of global sulfur supply (~20 million tons/year)
  comes from the Middle East (Persian Gulf region)

Key exporters include:

• Saudi Arabia
• UAE
• Qatar
• Kuwait
• Iran

All shipments must pass through the Strait of Hormuz.

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Indonesia’s Exposure​

According to Shanghai Metal Market (SMM):

• >75% of Indonesia’s sulfur imports (2025) come from the Middle East

Major suppliers:

• Saudi Arabia: 1.76 million tons
• Qatar: 967,000 tons
• UAE: 918,000 tons
• Canada: 515,000 tons
• Kuwait: 366,000 tons

This concentration creates vulnerability:

A disruption in Hormuz could directly affect raw material supply for Indonesia’s nickel processing industry

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Impact on Nickel Industry​

Sulfur is critical for HPAL processing:

• 1 ton of MHP requires ~11.7 tons of sulfur

MHP (Mixed Hydroxide Precipitate) is a key intermediate for:

• Electric vehicle (EV) batteries

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Clean analytical sentence​

Despite heavy reliance on Middle Eastern sulfur, Vale’s secured supply highlights the importance of supply resilience as Indonesia’s nickel-to-EV battery ecosystem expands rapidly.

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Hormuz Lumpuh, Vale Klaim Stok Sulfur Buat Smelter Nikelnya Aman - Energi

PT Vale Indonesia Tbk (INCO) mengklaim stok sulfur perseroan yang bakal digunakan untuk smelter nikel HPAL-nya dalam kondisi aman.

www.bloombergtechnoz.com

 

[Indos]

Indonesia, Philippines Forge Nickel Corridor to Strengthen Regional Supply Chain​

RRI


Indonesia-Philippines High Level Business Roundtable. The Indonesian Chamber of Commerce and Industry beliieves that a new strategic partnership with the Philippines in the critical minerals sector will elevate both countries’ positions in the global market. (Photo: Kadin)

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RRI.CO.ID, Jakarta - The Indonesia Chamber of Commerce and Industry (Kadin) believes that a new strategic partnership with the Philippines in the critical minerals sector will not only reinforce regional supply chains but also elevate both countries’ positions in the global market.

Speaking in Jakarta on Saturday, May 9, 2026, Kadin’s Deputy Chairman for International Relations, Bernardino Moningka Vega, described the Indonesia-Philippines Nickel Corridor initiative as a fresh model of regional economic cooperation.

Unlike traditional commodity trade, he said, the partnership focuses on building stronger industrial value chains.

The initiative was unveiled during the Indonesia-Philippines High-Level Business Roundtable in Cebu, organized by Kadin Indonesia and the Philippine Chamber of Commerce and Industry (PCCI), coinciding with President Prabowo Subianto’s official visit to the Philippines for the 48th ASEAN Summit.

“Aligned with this year’s ASEAN theme -- Navigating Our Future, Together -- the roundtable has mapped out a roadmap not only for bilateral cooperation but also for ASEAN’s readiness to face current geo-economic realities,” Bernardino explained, as quoted by Antara.

Collaboration between the Indonesian Nickel Miners Association (APNI) and the Philippine Nickel Industry Association (PNIA) will cover data and information exchange, policy dialogue, cross-border investment promotion, ESG methodology development, and workforce capacity building.

Indonesia produced around 2.6 million metric tons of nickel in 2025, while the Philippines contributed 270,000 metric tons. Together, the two nations accounted for 73.6 percent of global nickel output, according to the United States Geological Survey (USGS).

Indonesia holds an estimated 62 million metric tons of reserves, compared to the Philippines’ 4.8 million metric tons. For Indonesia, the partnership secures raw material supplies for its expanding downstream nickel industry, while for the Philippines, it opens opportunities to add value through regional processing and investment.

Beyond nickel, the forum also produced agreements on strategic chamber-to-chamber cooperation, agricultural technology collaboration, and aviation partnerships -- including a deal between Garuda Maintenance Facility and JAR Aviation Services valued at approximately USD 80 million.

Plans were also announced for a nickel processing facility in the Philippines, to be developed by Agro Investama Group with RBN Solutions Inc. and Ploutus Inc., with a supply commitment of at least 200,000 metric tons per month starting June 2026 to support the battery and electric vehicle supply chain.

PCCI President Ferdinand Ferrer emphasized the broader significance of the partnership. “ASEAN will be strongest when acting as one. At the heart of this unity is the robust bilateral relationship between Indonesia and the Philippines, representing nearly 400 million people,” he concluded.

This landmark cooperation signals a shift toward deeper integration of critical mineral industries in Southeast Asia, positioning the region as a key player in the global energy transition. **

Indonesia, Philippines Forge Nickel Corridor to Strengthen Regional Supply Chain - RRI.co.id

The Indonesia Chamber of Commerce and Industry (Kadin) believes that a new strategic partnership with the Philippines in the critical minerals sector will not only reinforce regional supply chains but also elevate both countries’ positions in the global market.

rri.co.id

 

[Indos]

Indonesia's Largest EV Battery Plant to Begin Operations in July 2026​

Verda Nano Setiawan, CNBC Indonesia
24 June 2026

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JAKARTA — Indonesia Battery Corporation (IBC) has confirmed that Indonesia's first large-scale electric vehicle (EV) battery cell plant, operated by PT Contemporary Amperex Technology Indonesia Battery (CATIB), will begin commercial operations in late July 2026.

CATIB is a joint venture between IBC and Contemporary Amperex Technology Co. Limited (CATL), through its subsidiary CBL International Development.

According to IBC President Director Aditya Farhan Arif, construction of the Karawang battery plant is approximately 90% complete and remains on schedule.

"The first production line will have a capacity of 6.9 GWh, and, God willing, we remain on schedule. We are targeting commercial operations by the end of July 2026. Construction progress has now reached 90%, and we are optimistic about achieving our target," Aditya said.

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Initial Capacity of 6.9 GWh​

The first production phase will deliver an annual battery cell manufacturing capacity of 6.9 gigawatt-hours (GWh).

Commercial production is expected to begin immediately after commissioning, as customer demand has already been secured.

"Buyers are already in place, so once commercial operations begin, production will immediately start. Trial production is already underway at the CATIB facility," Aditya explained.

Expansion to 15 GWh​

Following the completion of Phase 1, CATIB plans to expand total production capacity to 15 GWh per year.

According to Aditya, a 15 GWh facility would be capable of supplying batteries for approximately 250,000 electric vehicles annually.

Indonesia's Integrated Battery Ecosystem​

The CATIB battery cell plant forms part of Indonesia's integrated upstream-to-downstream EV battery ecosystem, currently one of the largest such projects in Asia.

The overall ecosystem is jointly developed by:

• PT Aneka Tambang (Antam)
• Indonesia Battery Corporation (IBC)
• Ningbo Contemporary Brunp Lygend (CBL)

The integrated project represents a total initial investment of US$5.9 billion (approximately Rp96 trillion).

Six Joint Ventures Across the Battery Supply Chain​

The project consists of six joint ventures covering the complete battery value chain.

Upstream​

• JV1: Nickel mining with annual production capacity of 13.8 million wet metric tons, already operating since 2023.
• JV2: RKEF nickel smelter producing 88,000 tons of refined nickel alloy annually, targeted to begin production in 2027.
• JV3: HPAL processing facility producing 55,000 tons of mixed hydroxide precipitate (MHP) annually, targeted for 2028.

Downstream​

• JV4: Cathode material and precursor production facility in East Halmahera, targeted for operation in 2028.
• JV5:CATIB battery cell plant in Karawang with:
  • Phase 1: 6.9 GWh per year (2026)
  • Phase 2: 8.1 GWh per year (2028)
  • Total: 15 GWh annually
• JV6: Battery recycling facility with annual capacity of 20,000 tons of recovered metals, targeted to begin operations in 2031.

Completing Indonesia's Battery Value Chain​

The Karawang battery cell plant represents the downstream segment of Indonesia's EV battery ecosystem.

Starting from nickel mining, the value chain progresses through ore processing, battery material production, battery cell manufacturing, and ultimately battery recycling.

Once fully operational, the integrated ecosystem is expected to strengthen Indonesia's position as one of the world's leading EV battery manufacturing hubs by leveraging its abundant nickel resources and expanding domestic value-added processing.

Source: CNBC Indonesia

Pabrik Baterai EV Raksasa Berdiri di RI Juli 2026, Segini Produksinya

Kapasitas produksi pabrik baterai EV di Karawang mencapai 6,9 giga watt hour di fase pertama

www.cnbcindonesia.com

 

[Indos]

Australia Plans to Build Rp6.29 Trillion Battery Precursor Plant in Indonesia​

Kamis, 02 Jul 2026




JAKARTA — Indonesia is advancing its national nickel downstream strategy through discussions on a planned investment in a precursor Cathode Active Material (pCAM) facility with Australian battery materials technology company Pure Battery Technologies.

Deputy Minister of Investment and Downstreaming and Deputy Head of the Indonesia Investment Coordinating Board (BKPM), Todotua Pasaribu, said the investment is crucial for completing Indonesia's nickel downstream value chain, particularly in the midstream segment, where battery precursor materials are produced for electric vehicle (EV) batteries.

Todotua recently met with Stephen Wilmot and Leidy Surianingrat at the Indonesia Investment Promotion Center (IIPC) office in Sydney, Australia.

According to Todotua, Pure Battery Technologies plans to develop a precursor Cathode Active Material (pCAM) industry using Mixed Hydroxide Precipitate (MHP) supplied from Indonesia's domestic High Pressure Acid Leach (HPAL) facilities, with the long-term objective of establishing a pCAM manufacturing plant in Indonesia.

"Indonesia already has HPAL facilities and will soon have battery cell manufacturing. The remaining links in the value chain are pCAM and cathode production. This is precisely where investments such as Pure Battery Technologies are critical to completing a fully integrated battery ecosystem," Todotua said.

The proposed project is valued at approximately US$350 million (around Rp6.29 trillion) and would strengthen Indonesia's battery value chain, covering the entire process from nickel mining, Mixed Hydroxide Precipitate (MHP), pCAM, cathode materials, to battery cell manufacturing.

The investment is also expected to enhance Indonesia's competitiveness as a regional electric vehicle manufacturing hub.

For Indonesia, developing domestic pCAM production is particularly important because it addresses one of the country's remaining gaps in the battery supply chain while capturing significantly higher value-added activities that have traditionally taken place overseas.

Battery precursor production remains one of the few major segments of Indonesia's nickel downstream industry that has yet to be developed domestically. It also represents one of the highest value-added stages in the nickel processing chain, where material value increases substantially as MHP is converted into battery precursor materials.

By establishing pCAM production within Indonesia, the government expects more of that value creation to remain within the domestic economy.

Meanwhile, Leidy Surianingrat, Director of the Indonesia Investment Promotion Center (IIPC) Sydney, said the agency will continue facilitating the project's development, including coordinating with relevant government agencies and potential strategic partners.

"IIPC Sydney is committed to supporting Pure Battery Technologies throughout its investment journey in Indonesia by connecting the company with relevant government stakeholders and strategic partners, while facilitating the next steps toward project realization," she said.

Australia Mau Bangun Pabrik Baterai Rp 6,29 T di RI

Nilai investasi proyek tersebut direncanakan mencapai sekitar US$ 350 juta atau setara Rp 6,29 triliun.

finance.detik.com

 

[Indos]

Nickel Giant Merdeka Battery Materials Swings to Strong Profit, Shares Seen Upside of 57%​

2 Jul 2026 | 21:52 WIB




JAKARTA — PT Merdeka Battery Materials Tbk (MBMA) delivered a strong financial turnaround in the first quarter of 2026, swinging from a net loss of US$3.5 million in the same period last year to a net profit of US$82 million.

The sharp improvement is expected to provide a strong catalyst for the company's share price.

According to Phintraco Sekuritas, MBMA's revenue increased 24% year-on-year to US$455 million, driven primarily by higher contributions from its Nickel Pig Iron (NPI) and nickel ore businesses.

Revenue growth was supported by exports to China, which accounted for 31% of total revenue, as well as higher average selling prices (ASP) following the rally in global nickel prices during early 2026.

Strong Growth in Nickel Ore Production​

Operationally, saprolite nickel ore production reached 2.3 million tonnes, representing a 72% year-on-year increase, while sales rose 42% to 1.9 million tonnes.

The increase reflects MBMA's strategy of maximizing ore supply from its SCM mine to its own smelters while reducing dependence on third-party saprolite purchases.

Meanwhile, limonite nickel ore production surged 195% year-on-year to 5.4 million tonnes, while sales climbed 126% to 4.8 million tonnes.

Battery Materials Business Continues to Expand​

The significant increase in limonite production is primarily intended to support operations at PT ESG New Energy Material's High Pressure Acid Leach (HPAL) facility.

Production of Mixed Hydroxide Precipitate (MHP)—a key raw material used in electric vehicle batteries—has already commenced.

According to Phintraco Sekuritas, development of MBMA's HPAL projects continues to make steady progress. The company targets commissioning of its SLNC HPAL plant in the second half of 2026, with initial MHP production expected during the same period.

Buy Recommendation Maintained​

Phintraco Sekuritas maintained its "Buy" recommendation on MBMA shares, assigning a target price of Rp790 per share, implying a potential upside of approximately 57%.

The brokerage noted several key risks that could affect the company's outlook, including:

• The potential implementation of a windfall tax on the mining sector;
• Higher government benchmark mineral prices (HMA); and
• Planned increases in nickel royalty rates.

https://investor.id/market/445059/raja-nikel-balikkan-rugi-jadi-laba-jumbo-saham-digadanggadang-melejit-57

 

[Indos]

MIND ID: The Orchestrator of Indonesia's End-to-End Electric Vehicle Battery Ecosystem

​

Rio Indrawan
Kamis, 9/07/2026

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JAKARTA — Indonesia's transformation into one of the world's leading producers of electric vehicle (EV) battery materials is no longer driven solely by its vast nickel reserves, but increasingly by its ability to develop a sustainable and fully integrated industrial ecosystem. The country is strengthening its EV value chain from upstream mining to downstream battery manufacturing, creating greater value-added industries while enhancing Indonesia's competitiveness as a global EV production hub.

Indonesia possesses more than 40% of the world's nickel reserves, providing a strategic foundation to support long-term global battery demand. However, maximizing the value of these resources depends not only on mining but also on the country's ability to process nickel into battery-grade materials. In addition to nickel, Indonesia also has significant reserves of copper, manganese, and aluminum, all of which are essential raw materials for battery production.

MIND ID Drives Indonesia's EV Battery Ecosystem​

MIND ID serves as the principal orchestrator of Indonesia's EV battery ecosystem, coordinating development across multiple subsidiaries and joint ventures spanning the entire value chain from mining to battery manufacturing.

President Director Maroef Sjamsoeddin stated that the company continues to implement its downstream industrialization strategy through mineral processing, metal refining, and energy security initiatives.

According to Maroef, one of MIND ID's primary priorities is the development of Indonesia's EV battery ecosystem, encompassing nickel mining, processing and refining facilities in East Halmahera, battery material production, and battery cell and battery pack manufacturing facilities in Karawang.

ANTAM and Vale Strengthen Upstream Supply​

PT Aneka Tambang Tbk (ANTAM) operates nickel mines in Pomalaa, North Konawe, Tanjung Buli, and Gag Island. The company produced 16.11 million wet metric tons (wmt) of nickel ore in 2025, a 62% increase from the previous year, while nickel ore sales reached a record 14.58 million wmt.

Meanwhile, PT Vale Indonesia Tbk is developing three major High Pressure Acid Leach (HPAL) projects:

• IGP Pomalaa (120,000 tons of MHP annually), developed with Zhejiang Huayou Cobalt and Ford Motor Company.
• IGP Bahodopi (60,000 tons annually), developed with GEM Co., Ltd..
• IGP Sorowako Limonite (60,000 tons annually).

Combined, these projects are expected to produce 240,000 tons of Mixed Hydroxide Precipitate (MHP) annually, making Vale one of Indonesia's key battery material producers.

CATIB Battery Plant in Karawang​

MIND ID also participates directly in downstream battery manufacturing through ANTAM, Indonesia Battery Corporation (IBC), and the CBL consortium (CATL, Brunp, and Lygend), which established Contemporary Amperex Technology Indonesia Battery (CATIB).

CATIB's battery cell plant in Karawang, West Java, will begin with an annual production capacity of 6.9 GWh, before expanding to 15 GWh, equivalent to batteries for approximately 250,000 to 300,000 electric vehicles annually. The facility is scheduled to commence commercial operations in late July 2026, initially producing both Nickel Manganese Cobalt (NMC) and Lithium Iron Phosphate (LFP) batteries.

Nearly US$6 Billion Investment​

According to the Ministry of Energy and Mineral Resources, Indonesia's integrated EV battery ecosystem consists of multiple upstream and downstream projects in East Halmahera and Karawang.

The integrated program includes:

• Nickel mining operations
• Rotary Kiln Electric Furnace (RKEF) facilities
• HPAL processing plants
• Cathode precursor and Cathode Active Material (CAM) production
• Battery recycling facilities
• Battery cell manufacturing

Total planned investment is estimated at nearly US$6 billion, with the potential to create approximately 35,000 direct and indirect jobs while contributing around US$42 billion annually to Indonesia's Gross Domestic Product (GDP).

Indonesia's Competitive Advantage​

Unlike many competing countries, Indonesia possesses abundant reserves of nickel and is also developing synthetic graphite production through PT Bukit Asam Tbk (PTBA). Synthetic graphite serves as the anode material for NMC batteries, an increasingly strategic component given limited global suppliers.

The article notes that while countries such as Malaysia, Vietnam, and India are also developing EV ecosystems, Indonesia's combination of abundant mineral resources and integrated downstream strategy provides a significant competitive advantage.

Long-Term Challenges​

Experts emphasize that Indonesia's long-term success will depend not only on mineral resources but also on strengthening domestic technological capabilities, accelerating technology transfer, improving battery recycling, reducing carbon emissions, ensuring supply chain traceability, and maintaining sustainable industrial practices.

Industry observers believe MIND ID is well positioned to become the cornerstone of Indonesia's globally competitive and sustainable battery industry, provided these long-term challenges are addressed through consistent policy implementation and continued industrial development.

MIND ID Sang Orkestrator Ekosistem Baterai Kendaraan Listrik dari Hulu ke Hilir - Dunia Energi

MIND ID menjadi penggerak utama pengembangan ekosistem nikel untuk industri EV di Indonesia. Pengembangan dilakukan melalui sejumlah anak usaha dan perusahaan patungan sehingga mencakup rantai pasok dari tambang hingga baterai.

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