When Luhut and Bahlil Unite to Search for Tom Lembong

REPUBLIKA.CO.ID, JAKARTA — Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan and Investment Minister Bahlil Lahadalia agree with one voice in denying the Co-Captain of the Anies-Muhaimin National Team, Thomas Lembong, regarding nickel.

Thomas Lembong previously questioned nickel downstreaming which he considered reckless. Lembong also said that the world’s development of electric vehicles such as Tesla no longer uses nickel as raw material, but Lithium Ferro Phosphate (LFP).

“I want to say, it is not true if there is a former official, economic thinker or anyone else who states that nickel is no longer a material that investors are pursuing to make car batteries,” stressed Bahlil at a press conference in Jakarta, Thursday (25/1/2024 ).

Bahlil did not deny that the raw materials for LFP, phosphate and lithium do not exist in Indonesia. That’s because what’s available in the country is cobalt, manganese and nickel.

However, Bahlil emphasized the government’s commitment to focus on developing domestic natural resources, including nickel.

The former chairman of HIPMI actually suspects that information about nickel that is no longer used is being used to lobby the next government to no longer prohibit exports of raw materials.

“Be careful! I’m linking this. Don’t let foreign agents enter this nation to destroy the order in public policy, this is dangerous,” he said.

In line with Bahlil, Luhut also denied concerns about nickel prices which are now starting to fall on the market, as stated by Tom Lembong, Thomas Lembong’s nickname.

According to Luhut, the issue of the price of nickel, which is a downstream product, must be looked at in the long term. In the last 10 years, we can see how commodity price cycles move up and down,

“You’re a businessman too, the cycle of commodities right up and down. “Whether it’s coal, nickel, tin or gold,” he said.

However, explained Luhut, if you look at the last 10 years, the world nickel price has averaged 15 thousand US dollars. In the 2014-2019 period when downstreaming began, the average price of nickel was only 12 thousand US dollars.

“I don’t understand how Tom Lembong gave a statement like this. How do you give advice lie to the leadership candidates you support,” he said.

“I’m sad to see you, your intellect is doubtful,” he said.

Luhut continued, Tom might really be an intellectual. But he has a bad character. “My grandson who is in George Town, USA, said, when you (Tom) spoke in Washington DC two weeks ago, ‘how come there is a former minister who speaks ill of his own government, where he used to work there? what kind of personality is this Opung’,” said Luhut, imitating his grandson’s words.

According to Luhut, Tom must understand that if the price of nickel is too high, it will be very dangerous. Why is that, because people will look for other forms of material to make batteries such as LFP “So if our prices are high people will look for other alternatives, technology is developing very fast therefore we are looking for balance.”