Chinese Delegation Discusses Investment Coop With RI

Jakarta, June 17 (Antara) - A Chinese delegation has come to discuss investment cooperation with PT Antam in the nickel mining sector. Industry Minister MS Hidayat made the statement at a press conference here on Monday after accompanying President Susilo Bambang Yudhoyono in a meeting with a communist party delegation from the Chinese province of Guangxi. "He (the secretary of the Guangxi chapter of the Chinese Communist Party, Peng Qinghua) has a mission of following up investment cooperation between the two countries including cooperation in the minerals sector with Antam worth US$1.6 billion," he said. Negotiation is still ongoing and has reached a process of business negotiation, he added. The minister would not tell the location of the investment cooperation project saying "regarding the location let Antam and not me tell it," he said. Hidayat said the Indonesian and Chinese governments would also sign a memorandum of understanding relating to an economic zone in the Indonesian eastern regions especially Kalimantan, Sulawesi and Maluku in the near future. According to plans, smelters would be built in the zone to process mine raw minerals. "The Chinese government will invite big investors to set up the smelters," he said. He said the zone would be for adaptation in connection with the implementation of the law on coal and minerals in 2014. Under the law, he said Indonesia would ban exports of mine raw materials and would require processing of the minerals in the country. "This will be an important momentum with regard to the implementation of the law in 2014 when Indonesia would no longer export mine raw materials and set up smelters to increase their added value in Indonesia," he said.