A Blog for Browsing Mining, Mineral Processing, and Metals Info

Indonesia, the world’s largest mined nickel producer, will proceed with a plan to ban mineral-ore exports for mining companies without smelters next month, while regulating shipments by miners that do process ore.

The government will issue a regulation before the prohibition starts from Jan. 12, Energy and Mineral Resources Minister Jero Wacik told reporters in Jakarta today. The rule will provide details on the minerals that can be exported, said Coordinating Minister for the Economy Hatta Rajasa.

Indonesia is seeking to boost the value of metal shipments by promoting domestic processing. The country accounts for 18 percent to 20 percent of global nickel supplies, 9 percent to 10 percent of aluminum supply from bauxite and 3 percent of copper supply, Goldman Sachs Group Inc. estimates. Freeport-McMoRan Copper & Gold Inc. (FCX), the owner of the Grasberg mine, said Dec. 12 it was working with the government to clarify the ban.

Read more at: http://www.thejakartaglobe.com/business/indonesia-to-regulate-metal-exports-for-miners-with-smelters/