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

A British consortium with the likes of mining major Glencore Plc (OTC: GLNCY) reportedly plans a $9 billion investment in Indonesia's mining and electric vehicle (EV) battery sectors.
byShivani Kumaresan
May 31, 2023
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    • A British consortium with the likes of mining major Glencore Plc (OTC: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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