Mining investment reaches $4.2 b in 2012

By Bambang Atmaja

Investment on mining sector in Indonesia increased significantly to US$4.20 billion this year from $3.41 billion in 2011, official at the energy and mineral resources ministry said.

Thamrin Sihite, Director General of coal and mineral resources at the ministry said that ministry projected that the investment would decrease next year because the investors had already invested much of their funds this year on smelter. As the miners have invested a lot on smelters this year, they'd likely to invest less on others next year, he said.

Investment on mining sector reached $2.21 billion in 2009 and $3.19 billion in 2010, said Sihite.

Editing by Adianto P. Simamora