16 October 2022
The Ministry of Energy and Mineral Resources (ESDM) as well as the Ministry pf Investment and the Ministry of Industries are encouraged to invest in derivative industries in an effort to process copper cathodes. This comes in the wake of a prediction of an overproduction of copper cathodes in 2025.
Information has it that in 2025 domestic smelters such as PTS Gresik, Amman Minerals effective in 2024 and the PT Freeport Indonesia smelters will be producing as many as 1.1 million tons of copper cathodes, while the demand of copper cathodes from Indonesia is only 300 thousand tons maximum. Therefore the excess of 70% of copper cathodes will be exported.
ESDM Minister Arifin Tasrif said he will call the derivative industries together to process copper cathodes because this product has still an abundance of derivatives.. “This is what we are trying to accomplish primarily together with the ministry of investment and ministry of industries,” he said when met at the ESDM Ministry on Friday (10/14).
He continued to say that copper demands are high and the prices are also right. In addition copper is a strategic mineral to support energy transition as it will be the main ingredient in the production of cables which function as transmitters. “How would we ever be able to transmit clean energy without cables? And this is what raises demands,” he explains. Arifin continued to say currently the cable industry is already domestic and the demands for copper in other industries like the automotive and electronic industries are constantly elevating.
Earlier, Rachmat Makkasau, President Director Amman Mineral Nusa Tenggara (AMNT) explained that one issue we are facing in this country is the fact that the absorption of copper has yet to reach its maximum capacity as a result of which in 2025 70% of our domestic copper cathode production will have to be exported while the balance of 30% and new production capacity can be absorbed by local industries. “This will of course lead to large scale issues because the 70% that is exported will be benefited from by other countries. Actually this issue can provide opportunities to anyone (in local industries) that is interested to get engaged in the copper industry,” he explained at an event called Investor Daily Summit 2022 at the JCC Senayan on Wednesday (10/12)/
Rachmat said the Indonesian copper industry contributes 3% to global copper needs. In future copper will be a commodity that is most essential as it will basically be used in every electric vehicle which requires approximately 3 to 4 times more copper than a normal car. In other words the use of copper in the future will be primarily in the interest of developing green energy, the electric vehicle, generators and others.
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