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View all search resultsState-owned steelmaker China Baowu Steel Group Ltd. is reportedly in talks to acquire some of Tsingshan Holding Group's assets in Morowali, in a mission to expand its business in nickel, which is the main material used in stainless-steel production.
Despite the government's hopes to gain "economic benefits" from Tesla's multi-billion nickel investment in Sulawesi, a constitutional economist has pointed out that the 'unconstitutional' deal involves two Chinese firms reselling Indonesia’s natural resources.
If approved, the waste from the nickel and cobalt metallurgy industry would be dumped at sea. According to Environmental and Forestry Minister Regulation No. 18/2018, deep sea tailings must be dumped outside of “sensitive areas” with standard levels of water quality, where the thermocline layer (where water temperatures rapidly decline) is at least 100 meters below the surface and where seabed canyons would allow the tailings to sink to depths of 200 m or more.
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