19 MAY 2015www.radionz.co.nz
Solomons govt allows limited bauxite export
Edited by : AL CIRCLE
1 min read
The Solomon Islands government says a limited shipment of stockpiled bauxite extracted from Rennell Island can be exported by PT Mega Bingtang Borneo.
Two weeks ago the government cancelled the company's mining lease and prospecting licence for failing to meet its conditions.
And it placed a hold on the bauxite that the company has been stockpiling from a pit in West Rennell since last year.
Now the government says exporting the bauxite is in the best interests of stakeholders, including the landowners and the government.
The government will impose a 20 percent export duty on the shipments, and the export permit shall only apply for the current stockpile.
Two weeks ago the government cancelled the company's mining lease and prospecting licence for failing to meet its conditions.
And it placed a hold on the bauxite that the company has been stockpiling from a pit in West Rennell since last year.
Now the government says exporting the bauxite is in the best interests of stakeholders, including the landowners and the government.
The government will impose a 20 percent export duty on the shipments, and the export permit shall only apply for the current stockpile.
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