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Jakarta Post

Mining investment to fall short by 40 percent this year

  • Norman Harsono

    Jakarta

Jakarta   /   Mon, July 6 2020   /  01:00 am
The Tayan bauxite mine in Sanggau, West Kalimantan, operated by state-owned metal miner PT Aneka Tambang (Antam).(Antam/Antam)

Investment in the mining industry is expected to fall short by US$4.74 billion this year, 40 percent of the initial target, as a result of delays in several smelter projects, the Energy and Mineral Resources (ESDM) Ministry has said. Lockdowns at various levels applied in many countries around the world to contain the spread of COVID-19 have disrupted material and labor supplies for the projects, adding more issues to developers’ financial problems, said the ministry’s coal director, Sujatmiko. “Smelter construction will only resume in July 2020,” he said during a webinar hosted by Cerah Foundation on Tuesday. Prior to the COVID-19 pandemic, the energy ministry expected four new smelters to start operations this year. However, only two smelters – a ferronickel smelter and lead bullion smelter – are slated for completion in 2020, energy mini...