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President Jokowi to Inaugurate Copper Smelters in Sumbawa, Gresik
WINDONESIA September 21, 2024
President Jokowi. (Presidential Secretariat)
President Joko "Jokowi' Widodo revealed that Indonesia continues to accelerate its downstream projects. Next week, he will inaugurate two copper smelters in Sumbawa and Gresik.
"Next week there will be two large smelters with an investment [value] of approximately Rp50-60 trillion which will start operating, namely Amman [Mineral's smelter] in Sumbawa and Freeport['s smelter] in Gresik," he explained while speaking at the Indonesian Economist Association (ISEI) Congress that was broadcasted virtually on Sep. 19, 2024.
After banning raw nickel exports since 2020, Indonesia then banned raw copper exports since 2022. Like nickel, copper that is to be exported must have been produced as a result of their respective natural resources downstreaming development.
Industrial downstreaming of copper can produce various more valuable goods, ranging from copper foil, cables, to car frames.
In addition to nickel and copper, Jokowi said that Indonesia is boosting bauxite downstreaming. The commodity is prohibited from being exported raw and business actors are asked to build smelters.
"Bauxite downstreaming has been completed in Bintan Regency. Next week, another will be inaugurated in Mempawah Regency, Riau Islands Province. The smelter could come to produce everything, alike it can be aluminum foil, car bodies, airplane bodies," Jokowi concluded.
Source: finance.detik.com