Indonesia's mining exports at standstill after new rules, official says

|By:, SA News Editor

Indonesia's metal ore and concentrate exports have ground to a halt, a trade ministry official tells Reuters, with a ban on ore shipments and an export tax introduced less than two weeks ago hurting the mining industry.

Indonesia introduced an ore export ban on Jan. 12, although last-minute amendments eased the impact of the export ban on copper miners Freeport McMoRan (FCX) and Newmont Mining (NEM), which are now subject to a progressive export tax on concentrates.

Freeport Indonesia has yet to resume exports since the export tax was introduced.