Insider Stories - Glencore Xstrata, a Switzerland company, which is one of the world's largest a commodity trader and miner, is looking into investment in bauxite and nickel smelter in Indonesia, a minister said on Tuesday.

Indonesia's industry minister MS Hidayat said top executives, from Glencore, including its CEO Ivan Glasenberg, met with him and expressed their interests to invest in processing facilities for Indonesia's ore-minerals.

Hidayat said they even already had a feasibility study over the plan.

Just like Rusal, the Russian aluminium producer, Glencore also asked for Indonesia's assurance to implement the ore-export bans, as if the government is lacking determination, then the smelters will be less useful for them as well as the country.

Hidayat also gave assurance that the government will not turn back from its plan and cannot ignore the mandate to do so as stated in the 2009 mineral and coal mining law.

Glasenberg was accompanied by Kiki Barki, the founder of Indonesian coal miner Harum Energy, which is a major trading partner of Glencore.

Hidayat said Glencore did not provide any investment figure, tough he predicted it will be more than $1 billion.