Indonesia Considering 25% Nickel Mining Tax

CNBC reported Indonesia plans to impose a 25 percent export tax on coal and base metals this year, jumping to 50 percent in 2013, an industry ministry official said on Tuesday.

As quoted in the market news:

If imposed the tax would add to a raft of regulations announced this year that have caused confusion in Indonesia’s mining sector and worried foreign investors. It would hit the profits of both national and foreign-owned companies and could also raise costs for importers.

Click here to read the full CNBC report.