Wenhua Finance reported on June 24, quoting external sources, that Indonesia’s Ministry of Energy and Mineral Resources (ESDM) announced that Indonesia is expected to become the world’s fourth-largest cathode copper producer next year, aligning with the country’s ambition to lead in battery and electric vehicle production.
Irwandy Arif, an expert staff at ESDM’s Mineral and Coal Governance Advancement Department, stated that this prediction supports the country’s strategy to become a major producer of batteries and electric vehicles, both of which require cathode copper as a key raw material.
“If we become the fourth-largest producer, we are likely to meet domestic demand for the development of these strategic industries,” Irwandy said at an ESDM meeting in Jakarta on Friday, June 21.
Indonesia has set an ambitious goal to produce 400,000 electric vehicles by 2025, with this number expected to increase in subsequent years, thereby driving up demand for cathode copper.
PT Freeport Indonesia (PTFI) President Tony Wenas also agreed with this view, noting that the current high demand for copper would greatly benefit Indonesia.
“Given the strong demand for copper, this is advantageous for Indonesia,” Tony said.
Indonesia could achieve this ranking through the operations of two companies: PT Freeport Indonesia and Amman Mineral. Both companies are currently developing copper smelting and refining facilities.
The full operation of these smelters will place Indonesia among the major cathode copper producers, including China, Chile, Congo, Japan, and Russia.
Tony emphasized that copper demand would further increase due to the needs of renewable energy power plants. Hydroelectric plants require 1.5 tons of copper per megawatt of power generated, while solar power plants require 4 tons of copper per megawatt of power.
“Electric vehicles need four times more copper than traditional vehicles. Therefore, the future prospects for copper are very bright,” Tony concluded.
[Source – 上海有色网] 印尼有望在明年成为全球第四大阴极铜生产国 https://news.smm.cn/news/102816839