Indonesia targets attracting nearly 8 billion USD in mining

The Indonesian government expects to attract 7.75 billion USD in investment in the mining industry this year, a record level between 2015 and 2024, fuelled by a wave of smelter development projects.

Wednesday, February 12, 2020 21:08

Indonesia targets attracting nearly 8 billion USD in mining ảnh 1

Illustrative image (Photo: Internet)

Jakarta (VNA) – The Indonesian government expects to attract 7.75billion USD in investment in the mining industry this year, a record level between2015 and 2024, fuelled by a wave of smelter developmentprojects.

According the Energy and Mineral Resources Ministry’s coal and mineralsdirector general Bambang Gatot Ariyono, investments will decline from 2021 to2024 because of a decrease in smelter development and investment during thatperiod.

A wave of smelter construction began a few years ago in anticipation of thegovernment’s ban on mineral ore exports. Indonesia, the world’s largest nickelproducer, banned nickel ore exports from 2020.

According to the ministry, the largest chunks of investment this year areslated to come from mining heavyweights PT Freeport Indonesia and PT AmmanMineral Nusa Tenggara.

The two mining giants will invest 2.3 billion USD in copper metallurgy in WestJava province, and 1.59 billion USD in building a metallurgy plant in West NusaTenggara, respectively. The two facilities are expected to be operational in2022./.

VNA

#Indonesian government #Vietnamplus #Vietnam News Agency #mining industry #Energy and Mineral Resources Ministry

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