January 13, 2014 / 3:00 AM / 4 years ago

Indonesia to impose progressive export tax on mineral concentrate

JAKARTA, Jan 13 (Reuters) - Indonesia will regulate mineral concentrate exports through a progressive tax under a new regulation signed by President Susilo Bambang Yudhoyono, a senior government official said on Monday.

The tax, which will increase up until 2017, will be aimed at forcing mining companies to start building smelters and refineries for copper, iron ore, lead, zinc and manganese concentrate, said Sukhyar, director general of coal and minerals at the energy and mines ministry.

“It will be controlled through a (progressive) export tax,” he told Reuters.

Reporting by Wilda Asmarini; Writing by Randy Fabi; Editing by Richard Pullin

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