JAKARTA, Aug. 27 (Xinhua) -- Indonesian Minister of Energy and Mineral Resources Bahlil Lahadalia said on Wednesday that the newly founded Mineral Industry Agency aims to strengthen the management of strategic mineral resources, particularly rare earth metals.
The minister said the agency, which was officially established on Monday, will work with state-owned enterprises to ensure that downstream processing and industrialization of strategic minerals are aligned with the national interest.
"Under this new body, a state-owned company will be responsible for managing strategic minerals such as rare earth metals," Bahlil said at the State Palace.
Given the high value of rare earth metals in the global market, Bahlil emphasized that their use must be strictly controlled. The newly established agency will therefore focus on industrial research and efforts to generate added value, he noted.
On the management of rare earth metals, the minister underscored that their raw materials will remain under the state's authority.
"Going forward, our upstream policy will not permit private parties to manage the raw materials of rare earth metals. Only the state will be allowed to manage them," he stressed. ■
