Subscribe free to our newsletters via your
. Energy News .

Indonesia's ban on mineral ore exports goes into effect
by Staff Writers
Jakarta (UPI) Jan 14, 2013

Indonesia's ban on exports of mineral ores has gone into effect, although 66 major mining companies are exempted from the ban for three years.

Most of Indonesia's miners have been exporting ores before processing. Regulations that took effect Sunday require bauxite, nickel, tin, chromium, gold and silver ores to be fully refined domestically prior to export, while copper, iron ore, lead and zinc concentrates may be exported with purification or if they are semi-processed.

Coal, the country's biggest mined export, is not included in the ban.

The Indonesian government passed a regulation Saturday night exempting 66 major mining companies -- including Freeport-McMoRan Copper & Gold Inc., based in Arizona, Newmont Mining Corp., based in Colorado -- from the ban until 2017.

Indonesian Energy Minister Jero Wacik said the law would "enhance the value" of the country's mining sector.

The government had introduced a law in 2009 requiring a ban on the export of unprocessed minerals starting Jan. 12, 2014. Because of confusion over the law and a dip in commodity prices, few miners have invested in refining plants, the Wall Street Journal reported.

Amid plunging currency and growing trade deficits, industry experts thought the Indonesian government would ease its stance on the ban.

In the meantime, countries such as China have stockpiled minerals like nickel in anticipation of a cut in supply, the Journal reported.

Indonesia is the world's second-biggest producer of nickel ore.

"More than 100 mining companies have been forced to reduce or shut down operations due to the uncertainty surrounding the mineral export ban," states an editorial in the Jakarta Globe Monday. "We hope the government has a plan on what to do with the hundreds of thousands of people who may become unemployed, as well as the millions who depend on them."

Indonesia's mineral shipments totaled $10.4 billion in 2012, around 5 percent of the country's total exports, says the World Bank.

While the mining sector has been Indonesia's single-largest source of foreign direct investment, the country was ranked as the worst place to do business out of 96 global jurisdictions last year in the Fraser Institute's annual survey of mining companies.

"The most significant metal producers shouldn't expect any negative impact," Bill Sullivan, a lawyer and mining industry adviser in Jakarta was quoted as saying by the New York Times. "The real story is how the government could have left it to the night before to come to grips with this. It's been an appalling failure of government policy making."


Related Links
Global Trade News

Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks DiggDigg RedditReddit GoogleGoogle

Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News

Target says data breach hit up to 110 mn customers
New York (AFP) Jan 10, 2014
Giant US retailer Target said Friday that up to 110 million customers have had their personal data stolen in a data breach, sharply raising its initial estimate. The number of people affected represented one in three Americans, and the scope of the information stolen was much broader than originally thought, Target admitted. Target initially reported on December 19 that payment card data ... read more

Obama sets up quadrennial review of U.S. energy strategy

Li's Power Assets to spin off HK unit

US energy secretary delays India trip amid row

Suburban sprawl cancels carbon footprint savings of dense urban cores

Acid mine drainage reduces radioactivity in fracking waste

Oil prices drop after interim Iran nuclear deal

Outside View: Asia's growing coal markets

Tax breaks for fracking firms as UK goes 'all out for shale'

German wind farm operator Prokon warns of imminent insolvency

China to Power Ahead as Wind Turbine Rotor Blade Market Leader for Foreseeable Future

Wind Turbines Begin Providing Renewable Energy at Honda Transmission Plant in Ohio

Researchers Find Ways To Minimize Power Grid Disruptions From Wind Power

Quantum mechanics explains efficiency of photosynthesis

Ascent Solar To Build CIGS Production Plant In Jiangsu

GS Hong Kong Solar Opens CIGS Plant In China

ConnecTables Solar Charging Stations Offer Sustainable Charging Solution

TEPCO to siphon off radioactive water from tunnels under Fukushima plant

S. Korea president eying nuclear business on India trip

UN nuclear experts to visit Iran on Saturday: report

IAEA to support Vietnam's nuclear projects

NREL Finds a New Cellulose Digestion Mechanism by a Fast-eating Enzyme

More to biofuel production than yield

Inexpensive technique could drive down costs of biofuel production

York scientists' significant step forward in biofuels quest

China launches communications satellite for Bolivia

China's moon rover continues lunar survey after photographing lander

China's Yutu "naps", awakens and explores

Deep space monitoring station abroad imperative

Europe squabbling over greenhouse gas targets

Population stability 'hope' in species' response to climate change

'Global sunscreen' plan could wreck tropics: study

Methane hydrates and global warming

The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement