Jakarta: Indonesia has banned all mineral ore exports from Sunday. However, the Jakarta Post suggests US mining giants Freeport McMoRan Copper and Gold and Newmont Mining Corp will be allowed to continue to ship billions of dollars worth of copper overseas.
Jakarta has taken this heavy handed move in a bid to make global miners process their ores domestically.
Only miners with confirmed plans to build smelters in Indonesia will be allowed to trade, authorities said yesterday.
More than 100 mining companies have been forced to reduce or shutdown operations due to the uncertainty surrounding the mineral export ban.
The national miners union has called for nationwide protests at the government’s plans. [13/01/14]