04 DECEMBER 2014AlCircle.com
The Indonesia ban attracting upstream investments
Edited by : AL CIRCLE
1 min read
The Indonesian constitutional court rejected the challenge raised by the mining companies regarding the country’s ban on raw materials export which was imposed in January.
The ban on mineral ores imposed on 12th January was to channel investments in the direction of mineral processing in the country to develop finished goods. However the ban created a stir in the global mineral market and the Indonesian Association of Mineral Entrepreneurs and companies that have mining licenses had filed a request in January to review the laws that formed the foundation of the ban. The chief justice, Hamdan Zoelva however rejected the plea saying that the ruling is final.
The newly appointed President Joko Widodo also reaffirmed his consent to the ban last month.
The director general of minerals and coal at the Energy and Mineral Resources Ministry, R. Sukhyar said in August that the curb has brought in about $18 billion worth of investment commitments, especially Chinese investors looking to make processing plants. Six alumina refineries are now in plans, according to ministry data.
The ban on mineral ores imposed on 12th January was to channel investments in the direction of mineral processing in the country to develop finished goods. However the ban created a stir in the global mineral market and the Indonesian Association of Mineral Entrepreneurs and companies that have mining licenses had filed a request in January to review the laws that formed the foundation of the ban. The chief justice, Hamdan Zoelva however rejected the plea saying that the ruling is final.
The newly appointed President Joko Widodo also reaffirmed his consent to the ban last month.
The director general of minerals and coal at the Energy and Mineral Resources Ministry, R. Sukhyar said in August that the curb has brought in about $18 billion worth of investment commitments, especially Chinese investors looking to make processing plants. Six alumina refineries are now in plans, according to ministry data.
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