|
|
JAKARTA - Indonesia’s Director General of Mining said the government is hoping Parliament will approve a new mining law in March forcing companies to process ore within Indonesia instead of exporting it to foreign smelters. Director General Simon Sembiring said the new law aims to ensure that "mining ore must be processed into metal in Indonesia" but that it will allow existing mine operations a period of transition.
There is currently only one copper smelter in Indonesia - the Gresick joint venture between Mitsubishi Materials Corp and the Indonesian unit of Freeport-McMoRan Copper & Gold - while Cia Vale do Rio Doce runs a furnace to process nickel ore. Sembiring explained that local firms could cooperate with foreign companies to build smelting facilities in Indonesia. "This item will give added value for Indonesia and also for the industry," he said.
More governments in developing nations have come to the conclusion that the real financial value lies not in mining but in the value-added downstream processes - refineries and smelters generate critical jobs and tax revenues long after mining deposits have been exhausted.
As a result, more laws and regulations are being enacted to prevent mining companies from shipping and refining concentrates and products elsewhere. However, international mining and smelting companies argue that investment is hampered by a complex regulatory environment, corruption, inadequate transparency in the judicial system, and tough labor laws.
|
|
|
|
|
|
There are no reactions on this blog entry yet. Be the first one to give a reaction here!
|
|
Log in to write a reaction
|
You are not logged in to the website. You have to be logged in to write a reaction on this blog entry.
· If you already have an account, please login.
· If you have lost your password, please retrieve it.
· If you don't have an account yet, you can create one.
|
|
|
| ABOUT THIS ENTRY |
Add this blog entry to your email, your own blog, MySpace, Facebook, or whatsoever via AddThis:
|
Login if you want to receive emails for reactions on this blog entry. You will receive an update as soon as a reaction on this blog entry is posted.
|
|
Looking for e-tickets for flights in Indonesia? Here's your solution! Order your e-tickets at ticketindonesia.info.
|
| BLOG ARCHIVE |
· 2015, 28 entries
· 2014, 591 entries
· 2013, 750 entries
· 2012, 1061 entries
· 2011, 792 entries
· 2010, 644 entries
· 2009, 916 entries
· 2008, 504 entries
· 2007, 725 entries
· 2006, 1014 entries
· 2005, 723 entries
· 2004, 558 entries
· 2003, 525 entries
· 2002, 375 entries
· 2001, 162 entries
|
| POPULAR TAGS |
Automatically generated every hour
|
| EXCHANGE RATES |
@ 17 May 2018 18:12 CET
|
@ 17 May 2018 21:58 CET
|
@ 15 May 2018 08:42 CET
|
@ 07 May 2018 07:48 CET
|
@ 16 May 2018 09:18 CET
|
@ 17 May 2018 00:46 CET
|
|
| Go to 'exchange rates' |
|
