Indonesia Hikes Nickel Miner Royalty Payments

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.