Expert says Perminas and BIM accelerate rare earth metal downstreaming

Jakarta (ANTARA) - Yayan Satyakti, a researcher and lecturer at the Faculty of Economics and Business at Universitas Padjadjaran, has assessed that the Mineral Industry Agency (BIM) together with PT Perusahaan Mineral Nasional (Perminas) plays a role in accelerating the downstreaming of rare earth metals in Indonesia.

“These two institutions should be understood as two legs of the same stride. Both are needed — one leg alone is not enough to walk,” Yayan told ANTARA when contacted from Jakarta on Monday.

Yayan stated that BIM has a role in closing gaps in the capability to manage rare earth metals, such as in terms of technology, governance and the handling of radioactive materials.

Meanwhile, Perminas has a role in closing capacity and funding gaps, such as building and operating plants, securing raw materials, and securing buyers.

Regarding Perminas’s role in securing raw materials, Yayan highlighted the state-owned company’s collaboration with PT Timah.

“Perminas is securing raw materials (monazite stock) from PT Timah and supplies from Gabon through partners,” Yayan said.

In addition, he continued, Perminas is also bringing in capital through funding from Danantara, as well as technology cooperation with India and other partners.