In Depth: Chinese Companies’ Quest for Indonesian Nickel Grows Perilous

Morowali, an Indonesian county with fewer than 200,000 residents, has attracted billions of dollars in investment from Chinese companies.

The list of Chinese investors included battery materials producers Zhejiang Huayou Cobalt Co. Ltd. (603799.SH), Eve Energy Co. Ltd. (300014.SZ), and Guangdong Brunp Recycling Technology. In 2021 alone, they put nearly $4 billion into the county.