China to invest US$1.6b on mineral exploration with Antam

By Bambang Atmaja

The government of China has made commitment to invest US$1.6 billion on mineral exploration with PT Aneka Tambang, a minister said in Jakarta on Monday.

Industry Minister MS Hidayat made the statement after the meeting at the State Palace of President Susilo Bambang Yudhoyono and Peng Qinghua, Secretary of Chinese Communist Party Committee of the China Guangxi Zhuang Autonomous Region.

"On economic field, he (Peng) has a special mission to continue investment cooperation of the two countries. On investment of mineral, the cooperation with Antam (will invest at US$1.6 billion U.S. dollar. It is on business process," he said.

The investment would be on mineral exploration," he told Petromindo.com at the Palace.

The minister said that China, which has long imported mineral ores from Indonesia, can understand RI government policy on the ban of mineral ores exports.

Editing by Adianto P. Simamora