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Reuters reported Indonesia is prepared to raise taxes on imports as well as curb its ban on raw metals exports like nickel this month.
Reuters reported Indonesia is prepared to raise taxes on imports as well as curb its ban on raw metals exports like nickel this month.
As quoted in the market news:
Indonesia will impose a new export tax on metal ores and prohibit the shipment of raw minerals unless miners submit plans to build smelters, in a decision likely to shake up mining in one of the world’s major metals exporters.
The tax is an average 20 percent duty on 14 mineral ore exports including copper, gold and nickel from Sunday, slightly lower than expected but enough to hurt miners in Southeast Asia’s biggest economy.