Jakarta, Aug. 27 -- The National Economic Council (DEN) outlined that the total value of Indonesia's nickel and cobalt reserves is approximately US$800 billion.

A member of DEN's Mining and Minerals Expert Team, Nataneil Adhynagara Horansil, stated that this value is based on Indonesia's nickel reserves of 52 million tons and cobalt reserves of 1.2 million tons.

"If we estimate the value using the current LME market value, the valuation of the reserves is around US$700 billion for nickel and around US$50 billion for cobalt," he said during a discussion on Nickel Processing Reform to Promote Green Industry Growth in Jakarta on Thursday.

Horansil said the figure represents the value of monetizable reserves, not the entirety of Indonesia'...