indonesia eases mineral export ban after opposition
Last Updated : GMT 14:37:07
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.

arabstoday
arabstoday

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*

indonesia eases mineral export ban after opposition indonesia eases mineral export ban after opposition

 



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*

indonesia eases mineral export ban after opposition indonesia eases mineral export ban after opposition

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Visit Jamaica for more than just sun

GMT 09:45 2017 Tuesday ,21 November

Visit Jamaica for more than just sun
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today UN warns of conflict in Gaza

GMT 08:39 2017 Tuesday ,21 November

UN warns of conflict in Gaza
Arab Today, arab today Missouri problem mirrors woes

GMT 06:46 2017 Tuesday ,21 November

Missouri problem mirrors woes
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Driverless, electric future just round

GMT 02:45 2017 Monday ,20 November

Driverless, electric future just round
Arab Today, arab today Fedra happy for “Between Two Worlds” success

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 12:15 2017 Friday ,17 November

Mona Abdel Ghany increased artistic activities

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 00:54 2017 Monday ,20 November

Mideast in danger as London explores

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
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