Nickel is an indispensable metal for high-energy-density electric vehicle (EV) battery technologies. Rising global demand for batteries is creating increasing opportunities for industrial development along these supply chains.
Alongside these opportunities, profound challenges exist for nickel-based industries. Persistent oversupply, depressed prices, declining ore grades, evolving battery technologies, and concerns about environmental, social, and governance expectations are placing pressure on the long-term competitiveness of these industries and threatening to cause severe environmental and social harms in nickel-producing countries.
This report examines how Indonesia and the Philippines can maximize the economic benefits of their nickel resources while managing emerging risks. It argues that success will depend on strengthened national policies as well as deeper cooperation within the Association of Southeast Asian Nations (ASEAN).
Key recommendations include boosting the competitiveness of nickel value chains in the two countries while reducing harms through community-centred governance of the industry and stronger environmental regulation.
