Mining update: Indonesian ore ban — temporary relief but at a price
As is widely known, the Indonesian export ban on ore came into effect on 12 January 2014. The regulation has caused commotion in the industry and the Indonesian government was under pressure to alleviate some of the harsher consequences. At the last minute, the Indonesian government has announced certain relief measures. However, these measures are intended to be temporary and, in exchange for the relief, the government is also seeking to raise export taxes.
The processing requirement for a number of ores has been adjusted. As long as the processing requirements are met, the ores can be exported. The most significant amendment is the lowering of the processing requirement for copper concentrate. Under the 2014 regulations, copper ore would need to be processed into copper cathodes of 99.9 per cent purity. Miners will now be allowed to export copper concentrate containing at least 15 per cent nickel. This allows Indonesia’s largest copper exporters, Freeport McMoRan Copper and Gold and Newmont Mining (which together account for 97 per cent of Indonesia’s copper exports) to benefit from the amendments, since their copper concentrate already exceeds the 15 per cent minimum requirement.
The requirements for nickel pig iron have been lowered to four per cent (previously six per cent)…
If you are registered and logged in to the site, click on the link below to read the rest of the DLA Piper briefing. If not, please register or sign in with your details below.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from DLA Piper
News from The Lawyer
Briefings from DLA Piper
The Australian Taxation Office released a draft ruling on the Goods and Services Tax treatment of bitcoin transactions on 20 August 2014.
DLA Piper’s ‘Life sciences: patent extension strategies and antitrust global update’ video covers global antitrust and competition issues including product hopping and reverse payment patents.
Analysis from The Lawyer
Cross-border work and political tensions are dominating this year’s entries for Finance Team of the Year at The Lawyer Awards.
Regulators are ramping up the pressure in the aftermath of recession, leaving firms to compete for compliance and restructuring work