May 31

British Consortium to Invest $9 Billion in Indonesia Mining, EV Batteries, Minister Says

A British consortium that includes mining giant Glencore (GLEN.L) will invest about $9 billion in Indonesia’s mining and electric vehicle (EV) battery sectors, a minister said on Wednesday, as the resource-rich country tries to lure a host of multinational firms.

Indonesia, which has the world’s biggest nickel reserves, is keen to develop downstream industries with the ultimate aim of producing batteries and vehicles for the world’s biggest electric car manufacturers.

Photo courtesy of The EITI

Source: Reuters (link opens in a new window)

Technology, Transportation
electric vehicles, manufacturing, mining, wind