August 28, 2013 / 3:55 AM / 4 years ago

Indonesia may loosen 2014 ore export ban for some miners

1 Min Read

JAKARTA, Aug 28 (Reuters) - Indonesia has proposed several amendments to a controversial 2014 ban on unprocessed mineral exports, the industry minister said Wednesday, as it scrambles to boost the rupiah and restore confidence in Southeast Asia's largest economy.

Under the proposed revision, mining companies with smelters under construction would be allowed to export unprocessed minerals, but would be charged a progressive duty on the shipments depending on how close to completion their projects are, Industry Minister Muhammad Sulaeman Hidayat told reporters.

"Miners that have not (started) building smelters yet will not be allowed to export minerals," Hidayat said.

No further details were given on the range of the progressive export duty or method for its calculation.

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