Jakarta. From 2023 to 2024, the investment in smelters in Indonesia is projected to amount to $11.6 billion (Rp 182.3 trillion) for the development of 16 smelters.

During a parliamentary hearing in Jakarta on Tuesday, the Acting Director General of Minerals and Coal at the Energy and Mineral Resources Ministry, Bambang Suswantono, said that out of the 16 planned smelters, seven will be dedicated to nickel, seven to bauxite, one to iron, and one to copper.

Bambang Suswantono noted that the seven nickel smelters entail a $2.67 billion investment, with five already operational since 2023. State-owned mining company Antam's nickel smelter is nearing completion at 99 percent, while Ang And Fang Brother's smelter is still under construction.

In addition, the seven bauxite sector smelters are valued at $5.85 billion, with $51.5 million invested in iron smelters. The largest investment, totaling $3.08 billion, is directed towards Freeport Indonesia's copper smelter, currently at 90 percent completion.

Furthermore, Bambang Suswantono stressed the importance of efficient industrialization policies in the mineral industry. The ministry is implementing strategies to integrate the supply chain between mining and smelting, involve stakeholders in downstream policies, and foster the development of advanced industries.