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MIND ID to increase capacity, look for mines abroad
The state-owned mining holding company has announced plans to raise output and search for new assets, including abroad.
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A worker works at a ferronickel smelter owned by PT Aneka Tambang (Antam) in Pomalaa, Central Sulawesi, in May 2019. (MIND.ID/-)
State-owned mining holding company MIND ID has announced plans to increase its production capacity and exploration activities.
MIND ID president director Hendi Prio Santoso said on Wednesday that the company aimed to double the capacity of its aluminum smelter to 400,000 tons per year, with construction set to begin next year.
Furthermore, the company plans to participate in auctions of special mining license areas (WIUPK) and coal mining business permits (PKP2B).
“[We] will also explore opportunities to acquire mines abroad,” Hendi told House of Representatives Commission VII, which oversees energy and mining, at a working meeting in Jakarta.
Read also: MIND ID turns to H1 net profit as metal prices rise
Hendi told lawmakers at the same meeting that MIND ID would also begin work on a life of mine plan for PT Freeport Indonesia (PTFI).
PTFI controls the Grasberg mine, which holds some of the world’s largest gold and copper reserves.
