JAKARTA, Nov. 29 (Xinhua) -- Indonesia is seeking investors to accelerate its bauxite downstreaming efforts, as the country faces challenges in securing funding for smelter development, a minister said on Friday.
"Our bauxite downstreaming agenda is still hindered by funding issues, causing several bauxite smelter projects to be postponed. Therefore, we are now looking to attract financing from investors," Indonesian Minister of Energy and Mineral Resources Bahlil Lahadalia told reporters in Jakarta.
He said the government plans to invite bauxite industry players, particularly those involved in processing and refining, to help expedite downstreaming efforts.
Indonesia banned the export of raw bauxite ore in June 2023 to prioritize the development of its downstream industry. Data from the ministry shows that Indonesia is currently developing 12 bauxite smelters, but only four are ready for operation.
Bahlil acknowledged that progress in bauxite downstreaming has been slower compared to nickel, which already boasts 116 refining facilities across the country. ■
