Indonesia Strengthens Cooperation with India on Critical Minerals and Steel Industry Development

Indonesia will strengthen cooperation with Indian companies regarding critical mineral development and the steel industry, according to Deputy Minister of Energy and Mineral Resources (ESDM) Yuliot Tanjung.

This decision was made during bilateral negotiations between the ESDM Ministry and the Secretary General of India’s Ministry of Steel, which discussed enhanced cooperation to be formalised through a Memorandum of Understanding (MoU).

“In principle, we have agreed that further discussions will be held at ministerial level. India will also encourage Indian companies to invest in Indonesia, particularly in the metals industry,” Tanjung said during an interview at the ESDM Ministry office on Friday, 27 February.

Beyond the metals industry, cooperation will also be extended to downstream metalworking industries in Indonesia, as well as capital goods development through research and innovation focused on more efficient energy utilisation.

“During the discussions, India will present a draft MoU. We will then consult with the Foreign Ministry regarding the MoU framework, which will subsequently be signed by both the Energy and Mineral Resources Minister and the Indian Steel Minister,” Tanjung explained.

According to an official Instagram post by the Deputy Energy Minister, the ESDM Ministry held a bilateral meeting with India’s Ministry of Steel Secretary Sandeep Poundrik at the ESDM Ministry office on Tuesday, 24 February.

The meeting discussed investment opportunities and strengthened strategic cooperation between Indonesia and India, particularly in critical minerals development and facilities supporting steel production in Indonesia.

“This synergy represents an important step in strengthening national energy security whilst opening opportunities for sustainable investment that delivers long-term economic benefits,” Tanjung stated in the post.