National mining company PT. Aneka Tambang (ANTAM) and Australian mining company Newcrest Mining Ltd. are building a partnership in order to explore gold and copper potential in Indonesia.
A statement released by the Australian Embassy on Sunday, November 6, 2016, mentioned that the collaboration document between both countries was signed by Indonesian Trade Minister Enggartiasto Lukita and Head of the Investment Coordinating Board Thomas Lembong in Sidney.
Australian Ambassador to Indonesia Paul Grigson, who was present during the document signing, also welcomed the collaboration. “Two-way investment is a form of acknowledgment that both countries’ economics have many potential to offer,” Paul said.
Indonesia and Australia have decided to raise economic issues in both countries’ bilateral partnership by reviving the Indonesia-Australia Comprehensive Economic Partnership Agreement (IACEPA), according to Grigson.
“More investment means joint prosperity,” Grigson said, while adding that increasing investments will create new job opportunities for both countries.
Indonesia-Australia partnership in the gold and copper mining sector has been established since late 2015 in the form of preliminary studies.
The preliminary studies were later followed up with a joint exploration in Indonesia.