Reuters reported new mining export rules in Indonesia have cost the country an estimated $164 million a month in nickel and bauxite sales.
As quoted in the market news:
Indonesia in May asked all miners to submit plans to build local smelters or to process ore domestically by 2014, when a total ban on raw mineral exports kicks in, or otherwise face an immediate ban on raw ore exports. It also imposed a 20 percent tax on ore exports.
|Equitas Resources (TSXV:EQT; FSE:T6UN) is one of the first junior resource companies in the last 20 years to hold such a large, consolidated land package in the Voisey’s Bay district. With a first-class, experienced team of professionals skilled in raising capital and managing successful exploration projects Equitas Resources has a tight share structure on early stage of nickel focused exploration. Learn more about this world class deposit.|