British Consortium Plans $9B Investment In Indonesia Mining: Report

  • A British consortium with the likes of mining major Glencore Plc GLNCY reportedly plans a $9 billion investment in Indonesia's mining and electric vehicle (EV) battery sectors.
  • With the world's biggest nickel reserves, Indonesia is trying to bring in a host of multinational firms, reported Reuters.
  • Investment Minister Bahlil Lahadalia said the investment will be in an industrial park in the Bantaeng region on Sulawesi island.
  • The facility, powered by wind energy is expected to be completed by September this year.
  • The consortium also includes Indonesian state miner Aneka Tambang, materials company Umicore and energy company Envision Group.
  • Indonesia has imposed a ban on the exports of unprocessed nickel ore since 2020 in order to preserve supplies for potential investors.
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