On the evening of November 9, the official website of the Chinese government released the "Joint Statement between the People's Republic of China and the Republic of Indonesia on Promoting a Comprehensive Strategic Partnership and Building a Community with a Shared Future between China and Indonesia" (hereinafter referred to as the "Joint Statement"). The "Joint Statement" noted that China and Indonesia will strengthen mutually beneficial and sustainable cooperation in the mineral sector.
　　According to interviews conducted by reporters from the Securities Daily, Indonesia boasts a diverse array of mineral resources—including coal, nickel, tin, aluminum, copper, gold, oil, and natural gas—and has long been highly regarded by Chinese listed companies. Through supporting infrastructure development, engaging in cooperative investments to build factories, and exporting products and services, these listed companies have been helping Indonesia’s mineral resources develop steadily and reaping significant economic benefits in the process.
　　Rich in mineral resources
　　Actively seek transformation
　　Professor Cao Erbao, Vice Dean of the School of Economics and Trade at Hunan University, introduced to a reporter from the Securities Daily the situation regarding Indonesia’s mineral resources: “Indonesia is a major coal-exporting country, with proven coal reserves approaching 40 billion tons. The coal quality is relatively good, with high calorific value, and has been regularly exported to China for many years via scheduled shipping lines. Indonesia is also a major exporter of nickel; its nickel reserves account for about 50% of the global total. The nickel ore in Indonesia boasts high grade and shallow deposits, making it easy to mine. In recent years, Indonesia has actively attracted foreign investment, vigorously pursuing the deep development and utilization of its nickel resources. In addition, Indonesia possesses a variety of other resources, including tin mines, bauxite, copper mines, gold mines, oil, and natural gas. In recent years, the pace of exploration and exploitation of these resources has been accelerating.”
　　According to a review by reporters from the Securities Daily, Indonesian coal has long been one of the preferred choices for China's major power plants due to its excellent quality and convenient transportation. Listed companies such as Zhejiang Energy Power, Yangtze Power, Guodian Power, and Yue Dian A have all designated Indonesian coal as a key long-term procurement target. Construction machinery enterprises including Sany Heavy Industry, Zoomlion, and Shanhe Intelligent have also actively participated in Indonesia's coal mining and development projects, providing Indonesia with crucial equipment such as excavators, graders, and mining trucks, and contributing to the construction of related logistics infrastructure.
　　Staff from Sany Heavy Industry explained to a reporter from the Securities Daily the key features of Indonesia’s mining sector development in recent years: “Indonesian coal is one of the country’s major mineral resources driving its export earnings, and the related infrastructure development has received high priority from the Indonesian government. In recent years, China has been promoting a transformation of its energy industry, leading to rapid growth in new energy sectors such as photovoltaics, wind power, electric vehicles, and lithium batteries. Meanwhile, thermal power generation units are moving toward cleaner and more efficient operations. Indonesia attaches great importance to China’s energy transition trends and is actively promoting the diversification of its mineral resources while closely aligning with the demand from China’s relevant industrial chains. Currently, Indonesia is vigorously developing the mining, smelting, and deep-processing industries for minerals such as nickel and bauxite, and is simultaneously building supporting infrastructure like hydropower stations. Our company’s construction machinery and equipment have all been involved in these project developments.”
　　Extend the industrial chain
　　Achieve value enhancement
　　Indonesia boasts abundant nickel ore resources, and nickel is one of the key materials essential for recent breakthroughs in lithium-battery technology. Thanks to their superior safety, lower production costs, and longer service life, high-nickel lithium batteries are widely used in fields such as electric vehicles, advanced energy storage, and power batteries. Listed companies including EVE Energy, Huayou Cobalt, Zhongwei Co., Ltd., and Greenmei place great importance on Indonesia’s nickel ore resources and are adopting various strategies—such as exporting mature technologies, engaging in cooperative investments to set up manufacturing plants, and deepening nickel processing—to extend the industrial chain and help enhance the value of Indonesia’s local nickel ore resources.
　　Among these, Huayou Cobalt has been developing Indonesia’s laterite nickel resources since 2018. Its Indonesian Huafei Company’s hydrometallurgical nickel refining project has reached full production capacity, while its Indonesian Huayue Company’s hydrometallurgical nickel refining project continues to maintain stable and even exceeding production levels. Additionally, the Huake Indonesia high-grade nickel matte project is operating smoothly and reliably. Huayou Cobalt has continuously innovated in key technologies for smelting Indonesia’s laterite nickel ores, and more than ten R&D achievements have been successfully implemented on an industrial scale in Indonesia’s nickel resource development projects. Huayou Cobalt stated that its projects in Indonesia boast advanced technology and strong overall capabilities, earning it the favor of companies from Europe, the U.S., Japan, South Korea, and other countries, with which strategic cooperation agreements have been reached.
　　Since fully launching its internationalization strategy in 2021, Zhongwei Shares has designated Indonesia as its first stop on the international stage, establishing a nickel smelting production base there. In the first half of this year, both the Yuhui Bay Project and the Debang Project in Indonesia—both under Zhongwei Shares—were completed and put into operation at full capacity. Meanwhile, the NNI 80,000-ton nickel refining project in Indonesia and the Zhongqing New Energy 60,000-ton nickel refining project in Indonesia are currently in the phase of ramping up production capacity. Zhongwei Shares stated that with the full-scale operation of nickel mining and refining projects in Indonesia, the company’s performance in related businesses is expected to improve significantly.
　　Indonesia also boasts abundant bauxite resources. In recent years, with the development of lightweight technologies for electric vehicles, drones, and aerospace applications, aluminum has become a key material highly valued by companies in these sectors. Chinese aluminum smelting and downstream processing enterprises, equipped with advanced technology and extensive experience, are actively choosing to invest and set up factories in Indonesia, thereby extending the aluminum smelting and downstream processing industrial chain.
　　Tianshan Aluminum stated that the company’s bauxite project in Indonesia is undergoing detailed exploration, and the preconditions for project handover are expected to be fulfilled as soon as possible. The company’s Phase I alumina project with a capacity of 1 million tons, invested in Indonesia, is currently undergoing various preliminary approval procedures. Nanshan Aluminum reported that the production capacity of its 2-million-ton alumina project, which it is building in Indonesia, has been fully utilized, and its profitability continues to perform exceptionally well, creating substantial economic value for shareholders. Currently, the company is making further investments based on this project, planning to expand its alumina capacity by another 2 million tons and build a new 250,000-ton electrolytic aluminum project, along with supporting facilities such as a wharf, reservoir, and slag disposal site.
　　Companies such as Chinalco International and China Hongqiao are also actively investing in Indonesia and developing local bauxite resources. Chinalco International stated that the Indonesian metallurgical-grade alumina project—with an annual capacity of 1 million tons (expandable)—which the company and its consortium are constructing, is currently being expedited.