The construction of bauxite smelting projects in Indonesia faces numerous difficulties. Although downstream plans are in place, only three smelters have been built in the past decade, while seven remain stalled. The obstacle lies in the lack of serious investors committed to project development. Since 2014, aside from PT Aneka Tambang and PT Bauxite Alumina Indonesia, no IUPK holders have successfully constructed a smelter. The Minister of Energy and Mineral Resources has previously stated the intention to improve the stagnant bauxite downstream industry. According to records from the Ministry of Energy and Mineral Resources, there are seven mineral processing facilities or bauxite smelters with construction progress exceeding 50% that do not meet site conditions. Currently, four smelters are operational in Indonesia. APB3I noted that banks and financial institutions often assess bauxite smelting projects as having low feasibility, making it difficult to obtain external funding. Indonesia's annual bauxite production capacity can reach 30 million tons, but domestic processing and refining capacity is limited.