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Reuters reported new mining export rules in Indonesia have cost the country an estimated $164 million a month in nickel and bauxite sales.
Reuters reported new mining export rules in Indonesia have cost the country an estimated $164 million a month in nickel and bauxite sales.
As quoted in the market news:
Indonesia in May asked all miners to submit plans to build local smelters or to process ore domestically by 2014, when a total ban on raw mineral exports kicks in, or otherwise face an immediate ban on raw ore exports. It also imposed a 20 percent tax on ore exports.
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