Indonesia Says US Must Invest Amid Critical Minerals Race
- Country sees a role in helping advanced nations de-risk
- Deputy Minister says critical minerals are the ‘new oil’
Developed nations such as the US need to invest in countries with vast reserves of critical minerals to reduce supply chain risks as these commodities are “the new oil” driving geopolitics, according to Indonesia’s Deputy Foreign Minister Pahala Mansury.
Advanced countries need to see where the geo-economics are shifting and adjust their priorities as the world is already transitioning into renewable energy, Mansury said in an interview with Bloomberg News last week. This could help build better economic ties with Indonesia, the biggest producer of nickel, a metal that’s used for electric vehicle batteries, he said.