Indonesian Mining Ministry Makes 11th-hour Attempt to Ease Export Ban

Reuters reported that, hoping to lessen the impact of Indonesia’s upcoming ban on unprocessed mineral ore exports, the country’s mining ministry has proposed a regulation that would permit the shipment of some mineral ore concentrates until 2017. Copper concentrate is included while nickel and bauxite concentrate are not.

As quoted in the market news:

Indonesian government officials are scrambling to pass regulations to ease a ban on unprocessed mineral ore exports from January 12. The ban aims to boost Indonesia’s long-term return from its mineral wealth, but officials fear a short-term cut in foreign revenue that could widen the current account deficit at a time when the economy is slowing.

‘The (mining) ministry proposed that miners will be given flexibility to export concentrate or processed minerals until 2017,’ Sukhyar, director general of coal and minerals, told reporters.

‘After 2017, they will only be allowed to export metal or refined mineral,’ he said.

Click here to read the full Reuters report.