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CNBC reported Indonesia wants miners with long-term contracts to hike export royalty payments to 10 percent in renegotiated deals, a deputy minister said on Friday.
CNBC reported Indonesia wants miners with long-term contracts to hike export royalty payments to 10 percent in renegotiated deals, a deputy minister said on Friday.
As quoted in the market news:
The mining sector contributes 12 percent to the gross domestic product of Indonesia, Southeast Asia’s largest economy and a favorite of emerging market investors.
The contract renegotiations with high-profile producers are politically sensitive, particularly in the run-up to elections in 2014, when President Susilo Bambang Yudhoyono is due to step down after two terms.
Click here to read the full CNBC report.