Reuters: Regulatory News: Indonesia to regularly review base price for mineral export duties

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Indonesia to regularly review base price for mineral export duties May 24th 2012, 11:35 JAKARTA | Thu May 24, 2012 7:35am EDT JAKARTA May 24 (Reuters) - Indonesia will review mineral base export prices every three months to calculate duties on ores subject to new export regulations, the director general of foreign trade said on Thursday. The comment helps to clarify how the new duties will operate. Director general Deddy Saleh said it would be an interim measure before a longer term system for calculating base prices for mineral ores is found. Indonesia introduced on May 6 a list of regulations that companies had to satisfy to continue exporting many unprocessed metals and minerals. The regulations shook an industry that contributes around 12 percent to the GDP of Southeast Asia's biggest economy.

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