Indonesia delays plan to impose higher royalties, export duties on minerals
A worker displays nickel ore in a ferronickel smelter owned by state miner Aneka Tambang Tbk at Pomala district, Indonesia, March 30, 2011. REUTERS/Yusuf Ahmad/File Photo
JAKARTA, May 11 : Indonesia has delayed plans to extract more revenue from the mining sector until it can figure out an "ideal formulation" that benefits both the government and mining firms, the country's mining minister said on Monday.
Here are some details:
• The government planned to impose higher royalties on some mining companies, as well as an export tax on shipments of certain minerals, including coal.
• The ministry is collecting feedback from miners to make sure the government arrives at a policy that will not burden the sector, Energy and Mineral Resources Minister Bahlil Lahadalia told reporters.
• "After hearing input from the public and businesses, I will put this on hold to develop a good, mutually beneficial formula," Bahlil said.
• Officials have previously said that the government aims to increase revenue from the mining sector.
