Indonesia Anticipates Substantial Fall in Mining Export Value

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.

Click here to read the full Reuters report.