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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.
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