UPDATE 1-Indonesia Extends Export Duty to 21 Metal Ores-Shanghai Metals Market

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UPDATE 1-Indonesia Extends Export Duty to 21 Metal Ores

Industry News 09:42:39AM May 17, 2012 Source:SMM

JAKARTA May 16 (Reuters) - Indonesia will apply an export duty of 20 percent to 21 metal ores and concentrates, the finance minister said on Wednesday, extending a list of 14 metals proposed earlier this month to be subject to the duty.

In total 65 mineral categories will be affected by the new regulation, effective immediately, finance minister Agus Martowardojo said. This did not include coal.

Earlier, Energy and Minerals Minister Jero Wacik had said 14 metal ores would be subject to the levy, including copper, gold and nickel.

The expanded list includes different ore concentrate categories for each mineral, as well as various other minerals and precious stones.

Indonesia is looking to derive more revenue from a sector that already contributes around 12 percent of GDP, and also wants to encourage raw materials to be processed domestically.

The new mineral export duty follows a similar move on palm oil, where Indonesia is the world's largest producer, and that led a number of firms to announce plans to build palm refineries in the country.

The metal ores affected are:

1. unprocessed iron pyrites

2. ungglomerated iron ores and concentrates

3. agglomerated iron ores and concentrates

4. roasted iron pyrites

5. manganese ores and concentrates

6. copper ores and concentrates

7. nickel ores and concentrates

8. cobalt ores and concentrates

9. aluminium ores and concentrates

10. lead ores and concentrates

11. zinc ores and concentrates

12. chromium ores and concentrates

13. processed molybdenum ores and concentrates

14. other molybdenum ores and concentrates

15. ilmenite ores and concentrates

16. titanium ores and concentrates

17. zirconium ores and concentrates

18. silver ores and concentrates

19. gold ores and concentrates

20. platinum group metal ores and concentrates

21. antimony ores and concentrates
 

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#1 Refined Cu
Sep.20
47395.0
-65.0
(-0.14%)
Standard-Grade Copper
Sep.20
47380.0
-70.0
(-0.15%)
High-Grade Copper
Sep.20
47415.0
-55.0
(-0.12%)
Guixi copper
Sep.20
47425.0
-55.0
(-0.12%)
Low-quality copper
Sep.20
47330.0
-85.0
(-0.18%)

UPDATE 1-Indonesia Extends Export Duty to 21 Metal Ores

Industry News 09:42:39AM May 17, 2012 Source:SMM

JAKARTA May 16 (Reuters) - Indonesia will apply an export duty of 20 percent to 21 metal ores and concentrates, the finance minister said on Wednesday, extending a list of 14 metals proposed earlier this month to be subject to the duty.

In total 65 mineral categories will be affected by the new regulation, effective immediately, finance minister Agus Martowardojo said. This did not include coal.

Earlier, Energy and Minerals Minister Jero Wacik had said 14 metal ores would be subject to the levy, including copper, gold and nickel.

The expanded list includes different ore concentrate categories for each mineral, as well as various other minerals and precious stones.

Indonesia is looking to derive more revenue from a sector that already contributes around 12 percent of GDP, and also wants to encourage raw materials to be processed domestically.

The new mineral export duty follows a similar move on palm oil, where Indonesia is the world's largest producer, and that led a number of firms to announce plans to build palm refineries in the country.

The metal ores affected are:

1. unprocessed iron pyrites

2. ungglomerated iron ores and concentrates

3. agglomerated iron ores and concentrates

4. roasted iron pyrites

5. manganese ores and concentrates

6. copper ores and concentrates

7. nickel ores and concentrates

8. cobalt ores and concentrates

9. aluminium ores and concentrates

10. lead ores and concentrates

11. zinc ores and concentrates

12. chromium ores and concentrates

13. processed molybdenum ores and concentrates

14. other molybdenum ores and concentrates

15. ilmenite ores and concentrates

16. titanium ores and concentrates

17. zirconium ores and concentrates

18. silver ores and concentrates

19. gold ores and concentrates

20. platinum group metal ores and concentrates

21. antimony ores and concentrates