Govt prepares new regulation for downstream mining industry

The government is preparing a Presidential decree to provide a guideline for the development of the country?s downstream mining industry, which will include its road map, short-term and long-term targets.

Supriyadi, an expert at the Office of the Coordinating Minister for the Economy, said that the Presidential decree would ensure that the development of the downstream mining industry would speed up of the process of the transfer of technology to the country in addition to increase the added value of the mineral products to the country?s economy.

?The Presidential decree is being prepared. With this decree, the program for the development of the downstream mining industry could easily be implemented,? he said as reported by Investor Daily.

Supriyadi said that the development of the downstream mining industry could help reduce exports of raw minerals and at the same time could help protect the environment.

He said that there was a sign of over exploitation in the country?s mineral resources which should be stopped.

The Presidential decree would be issued to support the government?s plan to ban export of unprocessed minerals beginning 2014. Beginning this period, all minerals should be processed at local smelting plants before being exported.(*)