Arab Today, arab today indonesia eases mineral export ban after opposition
Last Updated : GMT 20:48:20
Arab Today, arab today
Arab Today, arab today

Indonesia eases mineral export ban after opposition

Arab Today, arab today

Arab Today, arab today Indonesia eases mineral export ban after opposition

Bogor - AFP

Indonesia's president signed off on a controversial mineral ore export ban Saturday after an 11th-hour easing of the policy following opposition from miners and warnings it would hit state coffers, cabinet ministers said. Ministers announced late Saturday night that President Susilo Bambang Yudhoyono had signed the watered down version of the regulation just an hour before it came into effect. The government had originally proposed a blanket ban on the export of certain raw minerals, which also included concentrates, but the revised version would ban ore only and allow concentrates to be exported for the next three years. This means many miners -- including US giant Freeport McMoRan, the biggest miner operating in resource-rich Indonesia -- can continue to export. Exports of some key metals, such as nickel and bauxite, are still set to be banned in the nearer future, which may affect a number of miners, the Indonesian Mining Association warned. "Starting from 00:00, January 12, 2014, the export of ore is prohibited," Energy and Mineral Resources Minister Jero Wacik said. Indonesia's ban on the export of unprocessed mineral ore was aimed at creating added value to the lucrative industry, meaning more jobs and profits would stay in Indonesia. The proposed ban prompted strong opposition from both foreign and domestic miners, some of whom dubbed the policy "nationalistic", and warned the demands were unrealistic and would lead to widespread closures and lay-offs in the industry. The government has been scrambling to ease the ban in recent weeks, concluding it was unlikely to have the desired effect and would instead be a drain on state revenues in lost tax and royalties. Under the regulation, miners will also be obliged to build smelters by 2017, which some in the industry have complained is costly and economically unviable. Industry Minister M.S. Hidayat said that the government would impose taxes on mineral exports until 2017, when companies will have built smelters and will no longer need to export ore. "We will slap on an export tax, and every year the tax will get progressively higher," he said. The energy, finance and trade ministries are due to reveal more precise details of the revised ban. The export ban was announced several years ago but its implementation was delayed to give miners time to fulfil the requirement of building smelters to process their ore before exporting. But miners complained this would involve huge investments and that existing infrastructure was not up to the task. Most took little action, betting that Jakarta would back away from the policy.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indonesia eases mineral export ban after opposition Arab Today, arab today indonesia eases mineral export ban after opposition

 



Arab Today, arab today
Arab Today, arab today Jordan airline suggests flyers 'talk'

GMT 11:59 2017 Friday ,24 March

Jordan airline suggests flyers 'talk'
Arab Today, arab today 5 Crafty Must-Have Limited-Budget Ideas

GMT 17:03 2017 Saturday ,25 March

5 Crafty Must-Have Limited-Budget Ideas
Arab Today, arab today Rebel supporters flood Yemen streets

GMT 06:39 2017 Monday ,27 March

Rebel supporters flood Yemen streets
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemen children dream of school

GMT 07:25 2017 Friday ,24 March

Yemen children dream of school
Arab Today, arab today Trump to roll back Obama clean power plan

GMT 11:10 2017 Monday ,27 March

Trump to roll back Obama clean power plan
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Uber grounds self-driving cars

GMT 09:11 2017 Monday ,27 March

Uber grounds self-driving cars
Arab Today, arab today Audi RS 5 Coupe acquires new design

GMT 13:22 2017 Thursday ,23 March

Audi RS 5 Coupe acquires new design
Arab Today, arab today Nermein Al Fekki films “Foxes in the Valley”

GMT 09:58 2017 Saturday ,25 March

Nermein Al Fekki films “Foxes in the Valley”
Arab Today, arab today Salvage of South Korea's Sewol ferry

GMT 04:51 2017 Friday ,24 March

Salvage of South Korea's Sewol ferry

GMT 06:21 2017 Friday ,24 March

MP submits a petition to dismiss university head

GMT 18:57 2017 Tuesday ,21 March

Accessories designer reveals her new collection

GMT 15:25 2017 Tuesday ,21 March

2017 already marked

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures

GMT 20:03 2017 Saturday ,25 March

Health expert warns from dust sensitivity

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday