Oz to Invest Billions in Indonesian Mines

Australian firms are preparing to invest more than US$4bn in Indonesia's mining industry, Australia's Senior Trade Commissioner Rod Morehouse has announced.

"Australia has more than US$4bn waiting to be invested," Morehouse told reporters at Indonesian publication The Jakarta Post.

The investment is expected to come from companies already operating in Indonesia and new players in the market.

Last year, Australia-based Rio Tinto announced plans to invest in a nickel and mining project in Sulawesi, expected to create thousands of jobs.

By staff writer