The Minister of Energy and Mineral Resources demonstrated at the Mandiri Investment Forum that due to downstreaming in the nickel industry, the export value of nickel has surged tenfold. He stated that from 2017 to 2018, Indonesia's nickel export value stood at only $3.3 billion. Because President Joko Widodo halted the export of raw nickel materials, this figure has risen sharply. In 2023, it had reached approximately $33-35 billion, with an expected $40 billion in 2024. He noted that implementing the policy to stop nickel exports faced opposition and led to protests for several days, along with resistance from Western countries through the WTO, as these nations, reliant on Indonesian raw materials, pressured Indonesia to continue exporting unprocessed nickel. He further stated that Indonesia's current ministers possess wisdom and integrity, and that outdated methods should no longer be used in Indonesia.