Trading day running commentary, page-4146

Indonesia, with its huge Ni laterite (very high CO2-producing) reserves, is the biggest Ni exporter in the world- obviously a main competitor for BSX.

With the increasing emphasis by the EU & USA etc., on ESG issues/"green passports" etc., re the production of EV metals & precursor chemicals etc., I believe the type of labour-safety problems (ie not just the major environmental problems) occuring in Indonesia will cause some Ni importers to reject Indonesian Ni. Many workers have been killed.
This bodes well for CTM's competitiveness.

aljazeerra A. Chew 11.7.23 said

“Poor working conditions is an instant recipe for social tension, if not social disasters,” Muhammad Habib Abiyan Dzakwan, researcher at the Jakarta-based Center for Strategic and International studies (CSIS), told Al Jazeera.

“It will generate resentment, it may eventually cause operational disruption as unsatisfied workers resort to carrying out strikes in voicing out their concerns.”
“The competitiveness of Indonesia’s nickel industry will likely be at stake,” Habib added...

Airlangga Julio, a lawyer at the Jakarta-based firm, said the workers also work 50-70 hours a week without rest days despite labour law in Indonesia mandating a 40-hour work week.

“Their passports (for Chinese nationals- my words) are withheld, they cannot leave the area, many working accidents occurred almost every week, and depression…many suicide cases,” Airlangga told Al Jazeera...

Muhammad Habib of CSIS said that Indonesia does not have the luxury of overlooking social and labour issues in the mining industry, which could negatively affect direct foreign investment.

“Buyers are now more conscious over the social and environmental elements of the products they buy,” Habib said".

https://www.aljazeera.com/economy/2023/7/11/indonesias-electric-battery-hub-bid-clouded-by-mining-deaths?traffic_source=KeepReading