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Indonesia targets to attract 13 billion USD to bauxite processing

Indonesia, having the sixth-largest bauxite reserves in the world, sees the potential of bauxite downstream could reach 13 billion USD next year from the current 9 billion USD.
Indonesia targets to attract 13 billion USD to bauxite processing ảnh 1Indonesian Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan (Photo: Ministry for Maritime Affairs )

Jakarta (VNA) – Indonesia, having the sixth-largest bauxitereserves in the world, sees the potential of bauxite downstream could reach 13billion USD next year from the current 9 billion USD.

According to Coordinating Minister for Maritime Affairs Luhut BinsarPandjaitan, although Indonesia is in top six bauxite reserves in the world, thecountry only exports it.

President Joko Widodo has recently directed to enhance processing so as toincrease value for the processing industry, he said.

If bauxite is processed into various derivatives, the value can go up to 11digits, and this potential has not been maximized yet.

The Indonesian government will consider accelerating an export ban on bauxiteand other mineral items such as tin and alumina, among others, subject to thescale of investment, he revealed.

Under the current rules, exports of bauxite are allowed till January 11, 2022.

He encouraged the development of the bauxite processing industry to beaccelerated. It includes PT Indonesia Asahan Aluminum in collaboration with PTAneka Tambang Tbk via its subsidiary PT Borneo Alumina Indonesia (PT BAI) tobuild a bauxite-to-alumina plant in Mepawah, West Kalimantan./.
VNA
#Indonesia#sixth-largest bauxite reserves#bauxite downstream#13 billion USD#Luhut Binsar Pandjaitan#export ban on bauxite#bauxite processing industry#Vietnam News Agency#Vietnamplus
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