Lumbung seeks to export iron ore concentrates
Friday, February 19 2016 - 02:09 AM WIB
Mineral mining company PT Lumbung Mineral is seeking to export 400,000 tons of iron ore concentrates as the company has applied for export recommendation with the Ministry of Energy and Mineral Resources.
Lumbung Director Ricky Gowdjali said on Thursday that iron ore concentrates are now allowed to be exported following the issuance of Minister of Energy and Mineral Resources Regulation No 8/2015, revising an earlier regulation on the export ban of mineral ores.
Iron ore concentrates are among of mineral products that are still allowed to be exported until 2017 following the introduction of mineral ore export ban in early 2014. Lumbung is one of the eight mineral concentrates producers that are still allowed to make export following the ban. Export recommendation letter from the Ministry of Energy and Mineral Resources is necessary to be able to get export permit from the Ministry of Trade.
Ricky said the company is now waiting for the Ministry of Finance to decide the rate of export duty for iron ore concentrates.
Meanwhile, Ricky said that the company is still committed to complete its two smelter projects in West Java. He said that construction progress of galena smelter in Bogor has reached 60 percent, hoping that it could be completed this year. Meanwhile, progress of iron ore smelter in Sukabumi has reached 35 percent, hoping that it could start operation mid next year.
Editing by Reiner Simanjuntak