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Kartini L Makmur, Robert Sidauruk
The Government has finally finished drafting a regulation that will give incentives in the form of competitive export duty for all mining companies that commit to establishing a smelter in Indonesia and wish to export concentrated minerals.
According to R Sukhyar, Director General of Minerals and Coal at the Ministry of Energy and Mineral Resources (ESDM), the incentive formula will vary for each mining company depending on their progress in establishing a smelter.
“In general, the export duty tariff will be set below 10 percent, and subject to smelter progress,” informed Mr. Sukhyar in Jakarta last Friday.
Mr. Sukhyar further explained that the Ministry of Finance is responsible for drafting the formula for the export duty tariff with the ESDM responsible for inspecting progress in the establishment of the smelter.
“We are responsible for examining the development progress,” said Mr. Sukhyar.
At present, export duty for mineral concentrates is regulated under Minister of Finance Regulation No. 6 of 2014, which only imposes export duty on companies that do not have a smelter in Indonesia. Under this Regulation, the Government sets a 25% export duty for copper, to be increased to 35% in the first semester of 2015, and 40% in the second semester of 2015.
The export duty on other types of minerals is set at 20%, and will be gradually increased to 30%, 40%, 50%, and 60% in the first and second semesters of 2015 and 2016.
“Please note that, the new regulation is not a revision of Minister of Finance Regulation No. 6 of 2014, as it merely an incentive from the Government to mining companies that are committed to building a smelter,” Mr. Sukhyar emphasized.
Prior to this new incentive policy, Pramono Anung, Deputy Speaker of the House of Representatives, reiterated that the Government needs to maintain good investment conditions in the mining sector despite the mineral export ban policy.
Mr. Anung explained that the investment to a build smelter is substantial both in terms of funding and the time required. Consequently, the Government needs to provide incentives to mining companies that are willing to establish a smelter in Indonesia.
Furthermore, Mr. Anung also contends that the Government needs to ensure good infrastructure in areas for proposed smelter projects including the availability of electricity, port facilities, road and rail, and telecommunication networks.
“It takes three to four years of preparation to establish a smelter, and also involves substantial costs. Moreover, smelter development is a kind of investment with no guarantee of success,” said Mr. Anung.
(For more information on the Minister of Finance Regulation No. 6 of 2014, see ILB No. 2326)
(hot/kc)
The Government has finally finished drafting a regulation that will give incentives in the form of competitive export duty for all mining companies that commit to establishing a smelter in Indonesia and wish to export concentrated minerals.
According to R Sukhyar, Director General of Minerals and Coal at the Ministry of Energy and Mineral Resources (ESDM), the incentive formula will vary for each mining company depending on their progress in establishing a smelter.
“In general, the export duty tariff will be set below 10 percent, and subject to smelter progress,” informed Mr. Sukhyar in Jakarta last Friday.
Mr. Sukhyar further explained that the Ministry of Finance is responsible for drafting the formula for the export duty tariff with the ESDM responsible for inspecting progress in the establishment of the smelter.
“We are responsible for examining the development progress,” said Mr. Sukhyar.
At present, export duty for mineral concentrates is regulated under Minister of Finance Regulation No. 6 of 2014, which only imposes export duty on companies that do not have a smelter in Indonesia. Under this Regulation, the Government sets a 25% export duty for copper, to be increased to 35% in the first semester of 2015, and 40% in the second semester of 2015.
The export duty on other types of minerals is set at 20%, and will be gradually increased to 30%, 40%, 50%, and 60% in the first and second semesters of 2015 and 2016.
“Please note that, the new regulation is not a revision of Minister of Finance Regulation No. 6 of 2014, as it merely an incentive from the Government to mining companies that are committed to building a smelter,” Mr. Sukhyar emphasized.
Prior to this new incentive policy, Pramono Anung, Deputy Speaker of the House of Representatives, reiterated that the Government needs to maintain good investment conditions in the mining sector despite the mineral export ban policy.
Mr. Anung explained that the investment to a build smelter is substantial both in terms of funding and the time required. Consequently, the Government needs to provide incentives to mining companies that are willing to establish a smelter in Indonesia.
Furthermore, Mr. Anung also contends that the Government needs to ensure good infrastructure in areas for proposed smelter projects including the availability of electricity, port facilities, road and rail, and telecommunication networks.
“It takes three to four years of preparation to establish a smelter, and also involves substantial costs. Moreover, smelter development is a kind of investment with no guarantee of success,” said Mr. Anung.
(For more information on the Minister of Finance Regulation No. 6 of 2014, see ILB No. 2326)
(hot/kc)
Kartini L Makmur, Robert Sidauruk
The Government has finally finished drafting a regulation that will give incentives in the form of competitive export duty for all mining companies that commit to establishing a smelter in Indonesia and wish to export concentrated minerals.
According to R Sukhyar, Director General of Minerals and Coal at the Ministry of Energy and Mineral Resources (ESDM), the incentive formula will vary for each mining company depending on their progress in establishing a smelter.
“In general, the export duty tariff will be set below 10 percent, and subject to smelter progress,” informed Mr. Sukhyar in Jakarta last Friday.
Mr. Sukhyar further explained that the Ministry of Finance is responsible for drafting the formula for the export duty tariff with the ESDM responsible for inspecting progress in the establishment of the smelter.
“We are responsible for examining the development progress,” said Mr. Sukhyar.
At present, export duty for mineral concentrates is regulated under Minister of Finance Regulation No. 6 of 2014, which only imposes export duty on companies that do not have a smelter in Indonesia. Under this Regulation, the Government sets a 25% export duty for copper, to be increased to 35% in the first semester of 2015, and 40% in the second semester of 2015.
The export duty on other types of minerals is set at 20%, and will be gradually increased to 30%, 40%, 50%, and 60% in the first and second semesters of 2015 and 2016.
“Please note that, the new regulation is not a revision of Minister of Finance Regulation No. 6 of 2014, as it merely an incentive from the Government to mining companies that are committed to building a smelter,” Mr. Sukhyar emphasized.
Prior to this new incentive policy, Pramono Anung, Deputy Speaker of the House of Representatives, reiterated that the Government needs to maintain good investment conditions in the mining sector despite the mineral export ban policy.
Mr. Anung explained that the investment to a build smelter is substantial both in terms of funding and the time required. Consequently, the Government needs to provide incentives to mining companies that are willing to establish a smelter in Indonesia.
Furthermore, Mr. Anung also contends that the Government needs to ensure good infrastructure in areas for proposed smelter projects including the availability of electricity, port facilities, road and rail, and telecommunication networks.
“It takes three to four years of preparation to establish a smelter, and also involves substantial costs. Moreover, smelter development is a kind of investment with no guarantee of success,” said Mr. Anung.
(For more information on the Minister of Finance Regulation No. 6 of 2014, see ILB No. 2326)
(hot/kc)
The Government has finally finished drafting a regulation that will give incentives in the form of competitive export duty for all mining companies that commit to establishing a smelter in Indonesia and wish to export concentrated minerals.
According to R Sukhyar, Director General of Minerals and Coal at the Ministry of Energy and Mineral Resources (ESDM), the incentive formula will vary for each mining company depending on their progress in establishing a smelter.
“In general, the export duty tariff will be set below 10 percent, and subject to smelter progress,” informed Mr. Sukhyar in Jakarta last Friday.
Mr. Sukhyar further explained that the Ministry of Finance is responsible for drafting the formula for the export duty tariff with the ESDM responsible for inspecting progress in the establishment of the smelter.
“We are responsible for examining the development progress,” said Mr. Sukhyar.
At present, export duty for mineral concentrates is regulated under Minister of Finance Regulation No. 6 of 2014, which only imposes export duty on companies that do not have a smelter in Indonesia. Under this Regulation, the Government sets a 25% export duty for copper, to be increased to 35% in the first semester of 2015, and 40% in the second semester of 2015.
The export duty on other types of minerals is set at 20%, and will be gradually increased to 30%, 40%, 50%, and 60% in the first and second semesters of 2015 and 2016.
“Please note that, the new regulation is not a revision of Minister of Finance Regulation No. 6 of 2014, as it merely an incentive from the Government to mining companies that are committed to building a smelter,” Mr. Sukhyar emphasized.
Prior to this new incentive policy, Pramono Anung, Deputy Speaker of the House of Representatives, reiterated that the Government needs to maintain good investment conditions in the mining sector despite the mineral export ban policy.
Mr. Anung explained that the investment to a build smelter is substantial both in terms of funding and the time required. Consequently, the Government needs to provide incentives to mining companies that are willing to establish a smelter in Indonesia.
Furthermore, Mr. Anung also contends that the Government needs to ensure good infrastructure in areas for proposed smelter projects including the availability of electricity, port facilities, road and rail, and telecommunication networks.
“It takes three to four years of preparation to establish a smelter, and also involves substantial costs. Moreover, smelter development is a kind of investment with no guarantee of success,” said Mr. Anung.
(For more information on the Minister of Finance Regulation No. 6 of 2014, see ILB No. 2326)
(hot/kc)