Mining Industry Indonesia assigns $2 billion annual capex with focus on building alumina refinery

 

　　Mining Industry Indonesia assigns $2 billion annual capex with focus on building alumina refinery

 

　　MIND ID president director Orias Petrus Moedak said last week that of the total allotted fund, Rp 2 trillion would be used for working capital while the remaining amount toward strategic projects in the pipeline, including metal smelters and a coal gasification facility.

 

　　However, a maximum chunk of the project capex is reserved for an alumina refinery worth between 700 million and $800 million. The refinery is planned to be having a capacity of grading 1 million tonnes of alumina per annum, and its operation is estimated to begin in 2023.

 

　　“That funding is around 70 percent of the [alumina] project’s total value,” said Orias during a virtual press conference.