Indonesia: Mining sector to receive $2.5b in investment in 2010

Indonesian government plans to invest US$2.5 billion in the mining sector, the Jakarta Post quoted an official as saying Tuesday.

Bambang Setiawan, the director general of mineral resources, coal and geothermal mining at the Energy and Mineral Resources Ministry, told Antara the government had increased its investment target from $1.8 billion in 2009 due to the improving global economy.

He said investments this year would come from workholder contracts worth $1.2 billion, coal production contracts worth $860 million, mining concessions from state and regional enterprises   worth $43.53 million, and geothermal concessions worth $382.5 million.

Investments in mining and geothermal are expected to reach $3.077 billion in 2011, $5.008 billion in 2012, $4.68 billion in 2013 and $7.468 billion in 2014.

Bambang said the government expected coal production to reach 250 million tons this year, 175 tons of it destined for export. Copper production is expected to reach 1.017 million tons in 2010, gold 115,998 kilograms, silver 261,897 kilograms, tin 105,000 tons and nickel 77,700 tons.

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