Jakarta, CNBC Indonesia – Rare Earth Element (REE) or commonly called rare earth metal (LTJ) has recently returned to being the subject of conversation. The Coordinating Ministry for Maritime Affairs and Investment is currently looking for countries that want to become investors for commodities rare earth this.
This is considered important considering rare earth is said to be a raw material for making weapons. TTJ are 17 elements that function as main components in a variety of devices ranging from smartphone or smart phones and high-tech cameras to flat screen televisions and computers.
Maritime and Investment Coordinating Minister Luhut Binsar Pandjaitan said he had offered to countries ready to become investors, such as the United States (US).
At present the investor who is ready is China. However, in order to maintain the investment climate in Indonesia, he was reluctant to submit to the country.
“This is indeed our dilemma, because rare earth is the most widely produced in China, America itself is banned [blokir] by China it’s also frustrating. Now the fastest investor is China, now if we all love China, we will all bounce, “Luhut said in a discussion on Saturday (07/25/2020).
Therefore, Luhut is currently looking for other investors besides China, so that other countries have the opportunity to develop this rare land.
“So we are maintaining equilibrium, we are looking for investors, do we want America, we try or something else,” he explained.
According to him, looking for investors is not as simple as others see and think. But it must also be compatible with our national interests.
“So we have to look at our national interest, not just accepting people from investing, not the story. There is a calculation of our strategy, geopolitical considerations before deciding on it and how much we will give, we will not give it all,” he said.
The proposal to use rare earth as material for weapons is the result of discussions between the Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan with Defense Minister Prabowo Subianto.
This rare earth is commonly found in areas that produce tin, such as in Bangka Belitung.
When it was confirmed to the Governor of Bangka Belitung Erzaldi Rosma Djohan, he claimed to have met with Prabowo about the great potential of this rare earth.
“These are minerals that have great potential for the resilience of our country,” Erzaldi said when he was met at the Constitutional Court (MK) building, Jakarta, Friday (07/10/2020).
Not stopping there, he claimed that Prabowo had discussed the great potential of rare earth with President Joko Widodo. “Alhamdulillah, with Mr. Prabowo, we have followed up with the President and we will wait for the policy from the government,” said Erzaldi.
At present China is known to dominate the global supply chain, and Washington relies heavily on the Asian super power to access the metal in such a way that the commodity has not been subject to an increase in import duties.
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