Reuters: Regulatory News: Indonesia to impose avg 20 pct tax on raw metal exports

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Indonesia to impose avg 20 pct tax on raw metal exports May 3rd 2012, 11:07 JAKARTA | Thu May 3, 2012 7:07am EDT JAKARTA May 3 (Reuters) - Indonesia will impose an average 20 percent export duty on 14 mineral ore exports including copper, gold and tin from May 6, the country's mining minister said on Thursday. The tax, which has been expected in recent months, will not apply to coal, which will be ruled on separately, said Jero Wacik, leaving open the possibility of a future tax on shipments from the world's largest thermal coal exporter. Currently there are no export taxes on metal ores, said an executive at state nickel and gold miner Antam, though there are already low single digit royalty charges on some miners. The government is seeking to increase revenues from a mining sector that makes up about 12 percent of Southeast Asia's biggest economy, and to push miners to process raw ores domestically to export higher value finished metals. "There will be a push to make smelters," Wacik said, adding the tax will also apply to nickel, bauxite and silver.

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