Indonesia Won’t Relax Smelter Sureties for Ore-Export Permission -Official
JAKARTA, Indonesia–Indonesia won’t back down from preventing exports by mining companies refusing to put up sureties they will build smelters, the country’s director-general of minerals and coal says.
Mining companies must place cash equal to 5% of the cost of constructing a smelter in local banks to show they are “serious,” Director General of Minerals and Coal at the Ministry of Energy and Mineral Resources Sukhyar said late on Thursday.
“The money will be returned after smelter construction is completed,” Mr. Sukhyar said. Companies promising to build smelters can still export ore.
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