Govt to allow #Nickel ore, #Bauxite exports under new rules

Image result for Govt to allow nickel ore, bauxite exports under new rules

The revision of Government Regulation No. 1/2014 was aimed to encourage mining companies to shift the contract of work (CoW) to a special mining license (IUPK).

“Article 169 in the 2014 Mining Law says that in one year, the CoW must be changed to the IUPK,” Teguh said in Jakarta, as quoted by Kontan on Tuesday.

However, he highlighted several issues in the process including the percentage of state revenue and the increasing scarceness of mining areas.

In response, the government will grant a five-year export permit in exchange for the permit conversion, which is applicable for #Nickel ore and #Bauxite miners that currently are building refineries. The two commodities are currently banned from export because of a downstreaming program.

Read more at: http://www.thejakartapost.com/news/2016/10/26/govt-to-allow-nickel-ore-bauxite-exports-under-new-rules.html

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s