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