Province

North Sulawesi

Overview Economy

Sulawesi - North Sulawesi

North Sulawesi is a province of Indonesia located on the northern tip of Sulawesi Island, covering approximately 14,500 square kilometers with a population of 2.6 million people. The province extends farther north than any other Indonesian island, with the small island of Miangas acting as its sentinel in the vastness of the sea. Manado, the crown jewel of North Sulawesi, not only serves as the province's capital and most populous city but also acts as its primary entry point and economic hub. The province’s administrative area is divided into 11 regencies and 4 cities.

North Sulawesi boasts a diverse tapestry of ethnicities, religious beliefs, and languages. The Minahasan ethnic group constitutes the largest portion of the population at 30 percent, followed by the Sangirese at 19.8 percent, the Mongondow at 11.3 percent, the Gorontaloan at 7.4 percent, and the Chinese at 3 percent. This diversity makes North Sulawesi more ethnically heterogeneous than other regions of Indonesia.

In terms of religious affiliation, Christianity is the predominant religion in North Sulawesi, comprising 62.91 percent of the population, followed by Islam at 31.85 percent. Catholics also hold a notable presence of 4.45 percent of the population, further enriching the province's religious landscape with other faiths. This diversity is mirrored in the province’s languages. While Indonesian is the official spoken language, many indigenous languages such as Minahasan and Sangir are still widely spoken, indicating the region's distinct cultural legacy.

Furthermore, North Sulawesi's rich tapestry of ethnicities, religions, and languages translates directly to its culinary scene, where each ethnic group contributes its culinary traditions and ingredients. From the Minahasan's penchant for spice to influences from Dutch traders, the province offers a plethora of unique dishes. Notable North Sulawesi dishes include Tinutuan, Klapertart (a Dutch-influenced cake from Manado), Ikan Fufu, and Dodol Amurang.

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Economic Condition

North Sulawesi boasts a vibrant economy. As of 2023, the province acquired Rp 102 trillion in Gross Regional Domestic Product (GRDP). Driving the province’s economic landscape is its robust trade sector, with wholesale and retail trade, including car and motorcycle repair, leading the way with a contribution of Rp 13.57 trillion. Agriculture closely follows, bringing in a significant Rp 13.38 trillion. Additionally, the food and beverage sector plays a key role, contributing Rp 9.06 trillion to North Sulawesi’s economy, while the fisheries sector also makes a substantial contribution of Rp 6.29 trillion to the GRDP.

In terms of agriculture, North Sulawesi is well known for its paddy production, with 59,000 hectares of rice harvested in 2022, resulting in 253,000 tonnes of rice produced. Apart from paddy, North Sulawesi also has potential in plantations and horticulture.

North Sulawesi’s extensive coastline positions the province as a treasure trove of marine resources. As part of Indonesia’s fisheries management area (WPPNRI), North Sulawesi boasts rich fishing grounds. This abundance has made the province a prime investment destination for those looking to tap into the region’s significant fishery potential, especially in tuna and skipjack species. The government of North Sulawesi aims to boost fishery productivity to meet local demands, aligning with the province’s fishing industry.

In addition to its economic achievements, North Sulawesi is also home to two special economic zones (SEZ), namely the Bitung SEZ and the Likupang SEZ. Furthermore, several national strategic projects (PSN) have been launched in the province, including the inaugurated Lolak Dam in Bolaang Mongondow Regency. The dam provides irrigation benefits covering an area of 2,214 hectares.

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Latest News

January 12, 2025

PT J Resources Asia Pacific reported a new gold deposit it prospected in the North Sulawesi mining area operated by its subsidiary. The company informed that the new gold mine deposit has the potential to have a mill throughput of 1.3 million tons of ore per year.

"The prospect is expected to produce 70,000 ounces to 100,000 ounces of gold, more than 2 tons to 3 tons per year for more than 10 years," said J Resources President Director Edi Permadi in an official statement on Nov. 11, 2024.

He said that J Resources is currently reviewing the potential size of the gold exploration target, determining the processing method, and conducting an initial economic analysis study for the new gold deposit. The program was a follow-up to the initial exploration that was carried out during 2023.

"With this positive [finding], the company hopes that the implementation of the advanced drilling program and other development programs could be carried out immediately so that this deposit can become an economically-lucrative mine," Edi said.

Several programs that have been carried out by J Resources for the deposit include detailed geological mapping and detailed rock sampling, spectral analysis, gold resource modeling, exploration target estimation, gold inventory simulation, initial metallurgical studies and analysis, as well as initial economic analysis.

The results of the modeling and exploration target estimation of the main Oboy gold vein produced an exploration target ranging from 10 million to 15 million tons, with a grade range of 1.5 to 2.5 grams per ton (g/t) of gold. Modeling of two other veins, namely Odik and Mangkasep, produced an exploration target ranging from 7 million to 10 million tons, with a grade range of 1 to 3 g/t of gold.

J Resources also reported that it has tested 959 kilograms of ore rock samples which showed five different types of ore, including gold. The results of the initial metallurgical test study showed positive results.

"Considering the large potential exploration target and the fairly high grade, this deposit has great potential to be developed into an economically-lucrative gold mine," he asserted.

J Resources booked a net profit of US$10.08 million in the first half (H1) of 2024 based on its financial statement. The achievement is a reversal from the current year loss attributable to the parent entity of US$18.32 million back in H12023. J Resources' net profit was supported by its sales soaring by 125.85 percent year-on-year (yoy) from US$57.62 million in H12023 to US$130.14 million in H1 2024.

J Resources' largest gold sales were made to Metalor Technologies Singapore Pte. Ltd. and PT Aneka Tambang Tbk. (Antam), which respectively reflected 83 percent, or US$108.66 million, and 12 percent, or US$15.72 million, of the company's total sales.

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