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Chinese Nickel Miners in Indonesia Are Becoming Very Anxious About Falling Prices

Aerial view of the massive Chinese-owned Virtue Dragon Nickel Industry mine in Morosi, Indonesia. ADEK BERRY / AFP

The year-long slump in nickel prices is endangering the economic viability of some of the many Chinese mining companies in Indonesia that dominate the sector.

Chinese-owned mines account for 60-70% of all investment in Indonesia’s nickel mining business, which is significant given the Southeast Asian country’s massive reserves of the metal that’s a key ingredient in manufacturing EV batteries.

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