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Indonesia Anticipates Substantial Fall in Mining Export Value
Feb. 28, 2014 10:51AM PST
Base Metals Investing Reuters reported that Indonesia’s ban on unprocessed ore exports is set to send the value of its mining exports as low as $7 billion this year, from $11 to $12 billion in 2013. Prior to the ban, the country was the world’s top exporter of nickel.
Reuters reported that Indonesia’s ban on unprocessed ore exports is set to send the value of its mining exports as low as $7 billion this year, from $11 to $12 billion in 2013. Prior to the ban, the country was the world’s top exporter of nickel.
As quoted in the market news:
‘We have been estimating this and we are ready to face this as a consequence of our new mineral export regulations,’ deputy trade minister Bayu Krisnamurthi told reporters.
Krisnamurthi added that his office expects the value of mining exports in 2020 to reach $22 billion to $24 billion, double that of last year.