Indonesia Seeks Technology Investors To Develop Rare Earth Elements Industry

Trading

The Indonesian government is seeking investors, in the technology sector, to help extract rare earth elements (REE), as the country has targeted to develop the REE industry in the coming years.

The country’s state-owned mining company, PT Timah, has signed a cooperation agreement with Canada Rare Earth Corporation, to find the right technology to utilise, but has also expected to get a technology transfer from China.

“Maybe the easiest option is to get technology from China, because the country’s technology capability in exploring REE has been proven,” the company’s President, Director Achmad Ardianto said yesterday, during a hearing in the Indonesian parliament.

As of now, PT Timah, which has conducted cracking from monazite, the mineral that contains REE, up to 300 tonnes, has targeted to reach 1,000 tonnes of production in 2022, which needs advanced technology to accomplish, Ardianto said.

The ministry’s Director General for Metal, Machinery, Transportation Equipment and Electronics Industries, Taufiek Bawazier, said in the same hearing that, Indonesia is currently preparing a roadmap to develop the RRE industry as the metal is considered a strategic alternative to support the green energy transition.

Due to limited technology, Indonesia could have only found seven locations that have potentials for REE exploration, including those in provinces such as North Sumatra, Bangka Belitung, West Kalimantan and Central Sulawesi, according to the ministry.–

Source: NAM NEWS NETWORK