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Fortescue and Castle Peak holdings will jointly invest in Indonesias metal smelting industrial zone
Postdate：2021-08-27 Views：2112
Fortescue metals group of Australia and Qingshan holding group of China may jointly invest in the construction of a metal smelting industrial zone on Borneo island, Indonesia.
Since the beginning of 2021, Fortescue metal group and Chinas Qingshan holding group have been negotiating on the construction of metal smelting industrial zone. Luhut pandjaitan, Minister of maritime affairs and investment, said that the smelting of iron ore, nickel ore and copper ore on the island of Borneo may begin as early as 2023, and Fortescue may invest US $12 billion, Castle Peak may invest $30 billion.
The new metal smelter will be located near the 11000 MW Kayan hydropower project in North Kalimantan Province, Indonesia, on the side of Borneo island, Indonesia.
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