Details Of Project 02
Upon careful deliberation, we have reached the final stage of the selection process for ‘Project 02’. This second project is in nickel mining at a site located in Southeast Sulawesi, Indonesia. At present, we are proceeding with the comprehensive preparation works and planning required prior to starting the operations.
Why is our second project also in nickel mining?
The global effort to promote carbon neutrality has propelled the switch to renewable energy in recent years. As countries are more committed to tackling climate change, the adoption of electric vehicles (EVs) has gained significant momentum.
As the EV market continues to expand extensively, demands for raw material components are anticipated to be on the uptrend. Commonly used in the production of stainless steel, nickel, which is known to deliver higher energy density and greater storage capacity at a lower cost, is one of the critical minerals in the making of EV batteries.
Indonesia, the top producing country, accounts for 25% of the global nickel supply, making it a preferred jurisdiction for significant nickel consumers, as well as nickel miners and processors. The rapidly burgeoning EV sector has motivated the government of this biggest economy in Southeast Asia to develop an integrated EV supply chain by capitalizing on its mineral resources. Indonesia's nickel mining industry has seen considerable growth to meet the rising demand for nickel from the EV sector.
The islands of Sulawesi are home to most of Indonesia’s nickel reserves. Notably, nickel lateritic ores in this mineral-rich country are estimated to comprise 15 percent of the global reserves.
Henceforth, we view this business venture as one that has good long-term profitability. Of course, the management will not limit the nature of our business projects to nickel mining. Our goal is to maximize returns through our continual efforts to source opportunities with potential in other industries.