Indonesia could wipe out global nickel rivals according to the CEO of a French mining firm

Aerial view of nickel smelter activities at Virtue Dragon Nickel Industry in Konawe, Indonesia on Sept. 21, 2022. Andry Denisah—AFP/Getty Images

Indonesia has a strong hold on the nickel industry. The Southeast Asian country boasts the world’s largest nickel reserves and last year produced about 40% of the world’s supply of the metal, which is used to make stainless steel and is also vital to the production of electric car batteries.

Now, Indonesia’s position is poised to become even more dominant—the CEO of Eramet, a French mining firm, says the country’s low-cost nickel…