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.