- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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