The Jakarta Post reported that the Indonesian government plans to develop “rare earth element downstream industries that will produce a wide range of products, including for energy and transportation needs.”

As quoted in the market news:

The Industry Ministry director general for base manufacturing industry, Harjanto, said Thursday the ministry would establish a consortium comprising research agencies, such as the Agency for the Assessment and Application of Technology Agency (BPPT), the National Nuclear Energy (Batan) and universities, to seek out ways to add value to the nation’s mineral resources.

‘The consortium will develop the projects that process rare earth elements and we expect foreign investors will be able to take part,’ he told reporters at this office.

Click here to read the full report from The Jakarta Post.