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Indonesia to Change Royalty Structure on Nickel Products and Bauxite-The 21st China(Guangzhou) Die-casting, Foundry & Industry Furnace Exhibition
1/3/2020 壓鑄展-鑄造展- Die-casting expo-foundry expo |
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Reuters reported that according to new government regulations, Indonesia will double royalties on sales of the nickel ore to 10% while also adjusting the charges for other minerals. The new regulations, which take effect from December 25, also include a 5% royalty on sales of nickel pig iron. Royalties for sales of ferronickel and nickel matte will be halved to 2% for each, down from 4% previously, with 2% new royalties also imposed on other nickel products, such as mixed hydroxide precipitate and nickel sulfide. Royalties on bauxite are doubled to 7%, with aluminium set lower at 2%. Mining Ministry Director of Minerals Mr Yunus Saefulhak said “The royalty tariffs on nickel needed readjustment to give more balanced rates between ore miners and those who produce refined products. The adjustment is also aimed at encouraging miners to add value to ores by imposing lower royalties for processed products.”
Indonesia is aiming to reduce its reliance on natural resources exports by building smelting industries for minerals such as nickel, bauxite and copper. It will stop exporting nickel ore from January to process it domestically.
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