RI's mining revenue slightly down in 2012
Tuesday, December 18 2012 - 05:20 AM WIB
The government has recorded Rp 80 trillion rupiah (about US$8.295) revenue from mining sector as of November this year, slightly lower than that of last year due to export policy coupled with the declining global demand, Minister of Energy and Mineral Resources Jero Wacik said.
"The decrease in revenue is partly due to (existing) export restriction of mineral products and the declining global prices that reduce the export of mineral," Minister Jero told Petromindo.com at the State Palace.
He said that the revenue of Rp80 trillion was calculated from the period of December 2011 to November 2012.
The government imposed a 20 percent of export duty on 65 raw mining products since May as part of the move to increase added value of mineral ores. The miners are required that by 2014 to have built smelters to process mining products before being exported.
Editing by Adianto P. Simamora