JAKARTA - The Indonesian Mining Industry Holding BUMN (MIND ID) has accelerated the downstream program mandated by the state through the completion of a number of strategic projects.
MIND ID Corporate Secretary Heri Yusuf said his party was accelerating project completion to the Commercial Operation Date (COD) of each strategic project.
One of the strategic projects that will enter the commissioning phase period is the construction of the Smelter Grade Alumina Refinery (SGAR) in September 2024 with a completion progress of around 97 percent.
Smelter belongs to the consortium PT Indonesia Asahan Aluminum (Inalum) and PT Aneka Tambang Tbk (ANTM) through PT Borneo Alumina Indonesia (BAI) in Mempawah, West Kalimantan is expected to enter the COD stage in February 2025.
The two MIND ID members disbursed investments of up to USD 830 million or approximately IDR 13.1 trillion for the SGAR project. Later, this bauxite ore refining plant can produce 1 million tons of alumina per year.
"This project is believed to have a direct impact on economic growth in the surrounding area with up to 1,000 workers," said Heri, Thursday, August 15.
In addition, he said, the MIND ID Group also has a new smelter from Freeport Indonesia which will be able to purify the copper concentrate with a production capacity of 1.7 million tons.
PTFI disbursed capital of up to 3.67 billion US dollars or around Rp 58 trillion for a smelter with the world's largest single line design.
Apart from that, CATL and MIND ID have also agreed to establish joint venture cooperation, especially to start building an upstream ecosystem, namely a battery factory. MIND ID is also collaborating to build Industrial Park which is expected to be a home for electric vehicle manufacturers in Indonesia.
"Next year, MIND ID Group has several champion programs that can certainly help us in carrying out the mandate given by the state. Starting from the expansion of aluminum smelters, the addition of coal surveyors, the expansion of the chemical tin and tin solvers capacities, to the development of lead primary blocks #1 and block #2," he said.
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