Wednesday, July 5, 2023

"Australia and Indonesia have signed a ‘win-win’ EV battery deal, analyst says"

There's a combination I didn't have on my bingo card.

From CNBC, July 5:

  • Indonesian President Joko Widodo met his Australian counterpart Anthony Albanese on Tuesday, during a three-day state visit to Australia.
  • In addition to their commitment to regional peace and security, the two countries discussed economic partnerships including cooperation on electric vehicle batteries, longer business visas and investment in the green economy.

Mining giants Australia and Indonesia have signed a “win-win” EV battery deal, said Sabrin Chowdhury, head of commodities analysis at BMI, a research unit of Fitch Solutions.

Indonesian President Joko Widodo met his Australian counterpart Anthony Albanese on Tuesday during a three-day state visit to Australia.

In addition to their commitment to regional peace and security, the two countries discussed economic partnerships including cooperation on electric vehicle batteries, longer business visas and investment in the green economy.

The two countries welcomed “new commercial deals between Australian and Indonesian business across the health, mining and digital economy sectors,” according to a government press release....

....MUCH MORE

If interested see also February 2023's "Nickel shows Indonesia how to escape the middle income trap"  which focuses on resource nationalism and includes a comment on Serbia's giant lithium deposit:

"Rio Tinto–backed firm InoBat plans to build battery gigafactory in Serbia":....Although the story of why the deposit has not been mined is complicated (see links in intro if interested), one thing is certain, these resource-rich little countries want to be left with something much higher up the value chain than just a hole in the ground. 

Just as applicable to the bigger countries.