Indonesia’s downstream sector continues to attract strong capital inflows, with nickel emerging as the centerpiece of the country’s industrial strategy.
In 2024, investment in downstream nickel projects reached Rp153.2 trillion. By the first quarter of 2025, the sector had already recorded Rp47.82 trillion in realized investment — the largest among mineral commodities, outpacing copper, bauxite, steel, and tin.
The momentum underscores nickel’s growing role as a “star sector” with a broad multiplier effect. Data from the Indonesian Nickel Miners Association show that total realized investment between 2020 and the third quarter of 2024 amounted to Rp514.8 trillion.
The industry now involves 194 companies, employing around 193,000 workers. Over the same period, production capacity of nickel-based components—the core material for electric vehicle (EV) batteries—reached 44,959 KTPA.
With its vast resources, Indonesia has already established dominance in the global market and is able to influence pricing. In 2018, Indonesia controlled just 35% of global nickel ore production. By 2024, its share rose to 61%, and is projected to reach 73% by 2030.
The export value of the nickel industry in 2023 stood at USD 33.7 billion. With growth prospects remaining strong, the industry’s contribution to both the economy and society is expected to expand even further.
