Indonesian Investment Minister Bahlil Lahadalia, in discussion with his Canadian counterpart Mary Ng on the sidelines of the G20 summit in Bali, floated the formation of a group to “coordinate and integrate nickel policy” as the growing electric-vehicle industry spurs demand for critical minerals and metals. (The Logic, Reuters) 

Talking point: The creation of such a group would resemble the Organization of the Petroleum Exporting Countries (OPEC), the body of 13 nations that manipulates oil markets by controlling their collective output. Applied to nickel, the model would ensure that member countries enjoy an “evenly distributed value addition” from their respective industries, according to a statement from Indonesia’s investment ministry. Indonesia, which has banned nickel ore exports as part of a bid to secure domestic supply, raised the prospect of an OPEC-like cartel last month. Those discussions have seemingly broadened to include Canada, although it was unclear whether Ng will agree to Indonesia’s proposed governance structure.