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Indonesia to proceed with export restriction despite of protests
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It's reported that the government of Indonesia will proceed with its plan to tax unprocessed mineral exports despite strong protests from both home and overseas.
According to the government that the export tax was needed in order to prevent over exploitation of mineral ores ahead of the implementation of the regulation which prohibits exports of unprocessed metals beginning in 2014.
Under the new regulation, miners should establish smelters or cooperate with other companies to process their mineral ores for export. Mining companies would be allowed to export unprocessed ores only after they received a clean and clear status from the government.
It is known that 154 mining companies have applied for the status since the issue of the decree, showing an increasing number of companies that adopts the new rule.
News Date
7/9/2012 4:55:42 PM
reported by
Ren Jhuang
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