Indonesia will improve monitoring of environmental standards for nickel mining, amid concerns over production of the metal which is increasingly used in electric vehicle batteries, the country's President Joko Widodo told Reuters on Thursday.
"Sustainability is measured in two aspects: how long your reserves last, that's important, and operations of the mines. ESG cannot be bargained for if we want to continue to go forward," he said.
"We must control our output so that prices do not plunge because of our over production and over supply," he said, noting an influx of investment to process ore into nickel pig iron. More companies are now building HPAL plants, converting low-grade nickel ore into material used in EV batteries, but also producing toxic waste that must be treated and stored.
Melky Nahar, of the Mining Advocacy Network , said many companies did not comply with standards and questioned if there could be "political will" to enforce environmental rules.
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