RI investors encouraged to do mining in Australia
RI investors encouraged to do mining in Australia
JAKARTA (JP): Australia is inviting Indonesian investors to do
business in Australia's mining sector, while offering its
technology to Indonesia's mining industry to help meet the
rapidly increasing mining demands in the Asia-Pacific region.
"Indonesia and Australia are both well endowed with rich
natural and human resources. And our stronger cooperation in the
mining sector will maintain our position as the largest exporters
of mining products in the region," visiting Australian Minister
for Resources David Beddall told reporters here yesterday, a few
hours before ending his four-day visit in Indonesia.
He said that even though the mining industry is a dominant
sector in Australia, the country continues to need more capital
for its development.
"There are a lot of opportunities for Indonesian companies to
invest in the Australian mining sector," Beddall said.
He said that during a luncheon talk with the Indonesian Mining
Association's executives here yesterday he had urged the group's
members to expand mining operations in Australia to excavate
mineral resources in isolated areas.
In return, Beddall said Australia will offer Indonesia its
sophisticated technology for exploration and mining as well as
its expertise in environmental management and mine
rehabilitation.
He acknowledged that the two countries are competitors in
export markets for some resource commodities, particularly
liquefied natural gas (LNG) and coal.
Indonesia is the world's largest exporter of LNG, while
Australia is the largest coal exporter.
But stronger cooperation in the mining industry will make
Indonesia and Australia more dominant in supplying mining
products for the region and the world market, said Beddall.
"It is the fact that the market is growing so rapidly in South
East and North Asia," he said.
Australia, whose mineral and energy resources contributed
around 30 percent to its total commodity exports last year, is
the largest exporter of alumina, black coal, diamond and mineral
sands in the world.
Beddall noted that Australia has already supplied equipment
and services worth more than US$70 million for exploration,
engineering, construction and mining activities in Indonesia.
The Investment Coordinating Board (BKPM) reported that
Australia's investment during the period of 1967 through Oct. 15
this year reached US$2.01 billion. (fhp)