MOSCOW (Yosefardi) – UC RUSAL, a leading, global aluminium producer, had Tuesday (Feb 25) signed a Memorandum of Understanding (MOU) with PT Arbaya Energi (part of Satmarindo Group) to enter into a strategic partnership in the exploration and mining of bauxite and production of alumina in West Kalimantan, Indonesia.
The agreement was inked in Jakarta by Oleg Deripaska, CEO of UC RUSAL and Suryo B. Sulisto, Chairman of PT Arbaya Energi, on the field of the Intergovernmental Russian Indonesian Joint Commission on Trade, Economic and Technical Cooperation.
Under the terms of the MOU the two parties will enter into a strategic agreement to work together to develop the appropriate resources and infrastructure investment. The concrete projects are to be identified in due course and agreed by both companies.
Indonesia’s mining industry has seen explosive growth in recent years as the country is now the world’s third largest bauxite producer.
Arbaya Energi is a leading Indonesian energy and natural resources company. As part of the Satmarindo Group it currently operates in the coal and nickel mining industry while aggressively expanding its business to diversify its minerals portfolio. The company is based in Jakarta, Indonesia.