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SMM2: according to foreign media reports, the US copper giant Freeport-McMoRan is about to finalize a $2.8 billion deal with China's Aoyama to build a copper smelter in Veda Bay, Indonesia.
Indonesian Minister of Maritime Coordination and Investment Luhut Pandjaitan said: "the smelter will produce copper tubes and wires, which could be worth more than US $10 billion. The copper smelter will be equipped with the capacity to produce copper products that can be used as lithium battery components. It is also expected to support the country's goal of establishing a (EV) supply chain for electric vehicles. "