Govt to formulate reference price for mineral export
Tuesday, January 21 2014 - 02:33 AM WIB
The Ministry of Energy and Mineral Resources (MEMR) is seeking the input of industry players to formulate the so-called price reference (HPM) for six mineral concentrates including copper, manganese, zinc, lead, iron ore, and ilmenite, Kontan daily reported on Tuesday.
Dede Ida Suhendra, Director for Mineral Development at MEMR, said that the HPM was expected to be completed next month, which will then be submitted to the Ministry of Trade, which will use it to determine the export reference price for the mineral products.
The export reference price will then be used as the basis by the Ministry of Finance to collect the export tax.
The government on January 12 started implementing the long-planned export ban on mineral ores. But export of so-called six mineral concentrates including copper, manganese, iron ore, zinc, lead, and ilmenite are still allowed until 2017, but are subject to progressive export tax. (*)