Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Australia’s Fortescue Metals Group and China’s Tsingshan Holding Group could invest $12bn and $30bn respectively for iron, nickel, and copper ore smelting in Indonesia by 2023. 


Luhut Binsar Pandjaitannear Coordinating Minister for Maritime Affairs and Investment noted to the media on Aug 24 that the mega project will also include a dam and a 900Mw per year hydroelectric power plant for a sustainable supply of energy. 


Indonesia has targeted a total $100bn investment and will take about 10 years to complete. Borneo Island’s smelting project will be in North Kalimantan province in the Tanah Kuning industrial area. 


Fortescue has conducted feasibility studies into Indonesia’s hydropower and geothermal resources for industrial operations through Subsidiary Fortescue Future Industries (FFI). 

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