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The Indonesian government confirmed that it will import lithium from Australia to support the country’s fast-expanding electric vehicle (EV) industry. Speaking at the International Battery Summit conference held in Jakarta in early August, the country’s Energy and Mineral Resources Minister, Bahlil Lahadalia, said the country needs to step up imports of lithium to fulfill its ambition to become a major regional EV production hub.
Indonesia has set a production target of 9 million battery-powered motorcycles and 600,000 EVs by 2030, which it expects will help reduce the country’s annual consumption of fossil fuels by almost 22 million barrels.
The government is in the process of establishing a significant EV battery manufacturing industry, supported by leading overseas manufacturers such as China’s Contemporary Amperex Technology Company Ltd (CATL) and South Korea’s LG Energy Solution. It plans to establish a strong raw materials supply chain, underpinned by the country’s rich reserves of minerals such as nickel, manganese, and copper. However, the country has limited deposits of lithium, a key material used in EV batteries, forcing it to find new overseas suppliers.
Mr Bahlil confirmed at the summit: “Our vision to build an EV battery ecosystem is part of a broader mineral downstream industrialization strategy that we’ve pursued since 2020.” He confirmed that Indonesia had previously imported lithium from some African countries, but suggested that sourcing the mineral from Australia would be more cost-effective due to reduced shipping distances and higher volumes.
“Indonesia to source lithium from Australia” was originally created and published by Investment Monitor, a GlobalData owned brand.
The Waratah Super Battery is built on the site of the former Munmorah coal-fired power station. (Supplied: Akaysha Energy)
A battery capable of powering more than one million NSW homes has been officially connected to the power grid and switched on.
The Waratah Super Battery, on the site of the former Munmorah coal-fired power station on the Central Coast, has been operating at 50 per cent capacity, or 370 megawatts.
Akaysha Energy chief executive Nick Carter, whose company operates the battery storage system, said it would act as a shock absorber for the power network.
“The main function of the battery is to really protect the network in case of an outage or a transmission line falling down or a power station tripping off,” Mr Carter said.
Benefits to consumers were expected to go beyond reliability.
“The battery will allow more low-cost energy from across NSW to come into the grid,” said EnergyCo executive director of technical advisory services, Andrew Kingsmill.
“That will put downward pressure on electricity prices, which I think we can agree is something that’s welcome for us all.”
The Whyalla steelworks’ rebirth is a step closer, with a large group of potential buyers expressing interest in the asset.
More than 15 national and international parties remain in contention for the asset, with administrators closing the final expression of interest phase on August 1.
Among them is an international consortium, led by BlueScope Steel alongside Japan’s Nippon Steel Corporation, India’s JSW Steel Limited, and South Korea’s POSCO.
The Whyalla steelworks, one of only two major steel manufacturing plants in Australia, is a critical link in the value chain for iron ore mining operations in South Australia.
The business was placed in administration in February this year, with State and Federal Governments providing additional support to maintain operations while a new buyer was sought.
SA Premier Peter Malinauskas said this was to ensure the next owner was a credible, long-term partner of the business.
“The State Government’s objective has been to transition ownership of the steelworks to a new credible owner who can invest in Whyalla’s future,” he said.
“This strong interest is a positive sign for the future of the Whyalla steelworks and for the future of sovereign steelmaking capability in Australia. Most importantly, this is good news for Whyalla, for our state and for the thousands of people who rely upon the steelworks.”
Sales advisor 333 Capital will now move to solicit indicative bids from a shortlist of the remaining parties.
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