Dili, March 12 (AseanAll)  — The President of the Republic of Timor Leste, J. Ramos Horta has expressed support for a potential new investment in Timor Leste’s mining sector following a meeting with representatives from PT Celebes Mineral Indo Resources, a subsidiary of Xinjiang, China that is currently established in Indonesia. 

The company presented its plans to invest in the exploration and processing of copper, gold, and manganese minerals in Timor-Leste, with the President welcoming the proposal that could boost the nation’s economic development.

During the discussions, the Chinese firm outlined its commitment to prioritizing local workforce development as part of their investment strategy. PT Celebes Mineral Indo Resources acknowledged the high-risk nature of mining ventures and informed the President of their intention to conduct thorough preliminary research before proceeding with larger investments, demonstrating what the President viewed as a responsible approach to resource development.

The company has already initiated communication with the Ministry of Petroleum of Timor Leste and is preparing to submit formal permit applications in accordance with Timor Leste’s regulatory framework. The proposed next steps include conducting preliminary surveys that would involve collaboration between local and international geological experts, a process the President has indicated aligns with the government’s vision for sustainable resource management and foreign investment.