Indonesia's nickel industry revenue grew as much as tenfold last year

The Ministry of Investment and Downstream Industries revealed that the nickel downstream industry is planned to bring significant impact on the country's revenue, with exports of nickel commodities amounting to US$30 billion (about Rp 486.56 trillion) in 2024.Prior to the implementation of the nickel downstream industry program, the State's revenue from the nickel industry was only US$300 million (48.65 trillion dong); in 2024, this revenue has increased tenfold, indicating that the downstream industry program promoted by the Government has successfully increased domestic value-added and strengthened the country's industrial base. The Deputy Minister of Investment and Downstream Industries pointed out that the downstream industry strategy is not only limited to the mineral sector, but also covers the oil and gas, forestry, agriculture, and petrochemical industries, among which the oil and gas industry is an important support for the development of downstream industries, such as petrochemicals, fertilizers, and biofuels, and that some of the projects (e.g., the B40 fuel blend) have already entered the implementation stage.