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Jakarta Post

Mining investment expected to reach five-year high

  • Norman Harsono

    The Jakarta Post

Jakarta   /   Thu, February 13 2020   /  01:56 am

The government is expecting mining investments to reach US$7.75 billion this year, the highest projected amount between 2015 and 2024, fueled by a tidal wave of smelter development projects.The largest chunks of investment this year are slated to come from mining heavyweights PT Freeport Indonesia and PT Amman Mineral Nusa Tenggara.According to Energy and Mineral Resources Ministry data released Tuesday, the two mining giants would invest $2.3 billion and $1.59 billion, respectively.“Investments will decline from 2021 to 2024 because smelter development and investment will decline during that period,” the ministry’s coal and minerals director general, Bambang Gatot Ariyono, said at a House of Representatives hearing in Jakarta.A wave of smelter construction began a few years ago in anticipation of the government’s ban on mineral ore exports. The world’s leading nickel producer ...