Govt to soon issue export duty on mineral ores

Deputy Trade Minister Bayu Krisnamurthi has said that the government would soon issue a regulation on export duty on mineral ores to ensure there will be no over exploitation of mineral resources before its export ban which is slated in 2014.

?The regulation is being discussed. We hope we can issue it soon,? he said as quoted by Investor Daily newspaper.

Bayu argued that the government's plan to ban export of mineral ores in 2014 is part of the implementation of the 2009 mining law.

Before the ban becomes fully effective, he said, the government will introduce export duty to curb the possibility of over-exploitation ahead of the ban.

Official earlier said that the export duty will be between 15 and 50 percent. The head of the finance ministry?s fiscal policy agency (BKF) Bambang Brodjonegoro said that his office had not yet fixed the rate of the export duty.(*)