Indonesia to ease export tax in first rollback of mining rules

In a potential victory for Freeport McMoRan (FCX) and Newmont Mining (NEM), Indonesia says it will ease the controversial tax on mineral concentrate exports for firms that build smelters in the country, in an apparent partial rollback of new rules that have caused the country's mining industry to grind to a halt.

FCX is expected to resume exports of copper concentrate in the "near future," Indonesia's industry minister says; the company also confirms that it will build a copper smelter in the country.

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  • turville
    , contributor
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    Indonesia - still vying with India as the worst place to do business in the resources space. Arrogant, corrupt and no sense of investment cycles or business skill.
    24 Feb 2014, 04:19 PM Reply Like
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