Indonesia’s New Mining Laws Limit Exploration

Reuters reported new mining laws going into effect in Indonesia are likely to harm the nickel industry as explorers are restricted.

As quoted in the market news:

For decades explorers have enjoyed a place on the cutting edge of the country’s mining boom as they scoured the earth for fresh mineral deposits, a process that can take years and cost hundreds of millions of dollars before payback.

But now they complain that new rules aimed at boosting state revenue from natural resources have slashed investment in mineral prospecting and could threaten the entire $93 billion sector.

Click here to read the full Reuters report.