Indonesia Targeting US$21bn Investments from Raising Mineral Added Value

Translator

Ririe Ranggasari

Editor

Laila Afifa

25 November 2021 19:09 WIB

TEMPO.CO, Jakarta - The Indonesian government is targeting to reap US$21.28 billion worth of investments through increasing the added value of minerals. Indonesia has commodities with reserves and production levels ranking in the world's top 10.

Energy and Mineral Resources Minister Arifin Tasrif said Indonesia is an attractive destination for mining investments, as it owns the largest reserves and production capacity for one of the most sought-after commodities in the world, namely nickel.

"According to the United States Geological Survey (USGS), our nickel reserves volume is number one in the world. Twenty-three percent of the world's nickel reserves are under Indonesia's surface," he said in a statement as quoted in Jakarta, Thursday, November 25.

Indonesia is also rich in bauxite, number six in terms of total reserves and production globally; copper, seventh in reserve and 12tn in production; gold is fifth in terms of potential and sixth for production; and tin, 17 percent of the world's reserves or is in second place.

Indonesia currently has 19 smelting facilities, 13 of which are nickel smelters. The government has planned the construction of 17 new smelters with an investment value of US$8 billion. By 2023, the government plans to have 53 smelters operating in Indonesia.

"We hope that the progress will be accelerated in 2022, because 2023 is the deadline for the export permit of concentrates. These smelters must be completed," Arifin said.

Read: Jokowi Plans to Stop Raw Bauxite, Copper Exports

Antara



Indonesia to Gradually Enact Bauxite, Lead, Copper Export Ban

3 hari lalu

Indonesia to Gradually Enact Bauxite, Lead, Copper Export Ban

Restricting the exports of raw mining products such as lead, bauxite, and copper will be implemented in gradual steps.


VP Ma'ruf Amin Meets with Japanese PM Fumio Kishida

3 hari lalu

VP Ma'ruf Amin Meets with Japanese PM Fumio Kishida

Indonesia's Vice President Ma'ruf Amin met with Japanese Prime Minister Fumio Kishida at Japan's Akasaka Palace on Monday, September 26, 2022.


Bali Compendium Intended to Fight Nickel Dispute, Investment Minister Says

4 hari lalu

Bali Compendium Intended to Fight Nickel Dispute, Investment Minister Says

The Minister said this Bali Compendium will give the government the upper hand in facing the WTO nickel export ban dispute.


Indonesia Returns 90 Out of 2,078 Revoked Mining Permits

4 hari lalu

Indonesia Returns 90 Out of 2,078 Revoked Mining Permits

The Indonesian government has returned 90 mining business permits or IUPs that were previously revoked.


Task Force Finds Many Illegal Online Lending Platforms Based in US, Hongkong

14 hari lalu

Task Force Finds Many Illegal Online Lending Platforms Based in US, Hongkong

The Investment Watch Task Force has discovered that many illegal online lending service providers operating in Indonesia used servers based abroad.


Bahlil Lahadalia: Many Resent ASEAN's Growth, Mentions EU Nickel Lawsuit

16 hari lalu

Bahlil Lahadalia: Many Resent ASEAN's Growth, Mentions EU Nickel Lawsuit

Minister Bahlil said there are countries that are not content with the economic growth of ASEAN countries.


Investment Minister to Lift Up 'Super Priority' Tourist Destinations

21 hari lalu

Investment Minister to Lift Up 'Super Priority' Tourist Destinations

The government is highly motivated to accelerate tourist destinations apart from Bali, says Minister of Investment Bhalil Lahadalia.


Investment in New Capital Project 'Not a Concern', Minister Bahlil Claims

22 hari lalu

Investment in New Capital Project 'Not a Concern', Minister Bahlil Claims

Investment Minister Bahlil Lahadalia says a number of countries have expressed commitment to be involved in the construction of the New Capital City.


Thousands of Mining Permits Revoked, Investment Minister Says

22 hari lalu

Thousands of Mining Permits Revoked, Investment Minister Says

Minister of Investment Bahlil Lahadalia claims to have revoked 2,078 mining permits (IUP) that are deemed to be inactive.


Erick Thohir Laments Import Dependency; Encourages SOEs to Invest Abroad

23 hari lalu

Erick Thohir Laments Import Dependency; Encourages SOEs to Invest Abroad

SOEs Minister Erick Thohir calls for state-owned enterprises to boost overseas investments.