Jakarta, Aug. 25 -- Coordinating Minister for Economic Affairs Airlangga Hartarto stated that the establishment of the Mineral Industry Agency is intended to manage strategic minerals, particularly rare earth elements, amid surging global demand.

Speaking at the Presidential Palace complex in Jakarta, Hartarto emphasized that rare earths are currently in high demand worldwide and therefore require special attention.

"The Mineral Industry Agency is related to rare earths, which have now become a major concern," Hartarto said.

He explained that the newly established agency will be responsible for extracting, safeguarding, and developing the industry.

He noted that the end products of rare earth processing include magnets and batteries, ...