IMA sees increase in mineral ores export following policy relaxation
Friday, September 6 2013 - 12:59 AM WIB
Vice Chairman of the Indonesian Mining Association (IMA) Tony Wenas is optimistic that the country?s mineral ores export will increase after the government last moth lifted the export quota over the next few months.
He said that it?s not to difficult to look for buyers of the country?s mineral ores as they have been standing by.
?I am optimistic, the mineral ores exports to rise,? Tony said, but quickly warned that excessive export may further undermine the price of the mining commodities admid current bearish market condition.
Deputy Minister of Trade Bayu Krisnamurthi as reported by this portal had also earlier voiced similar optimism.
The government last month announce a set of fiscal measures to help deal with the country?s widening current account deficit and falling rupiah, among others relaxing its policy on mineral export by lifting the export quota which has been put in place since May 2012. The 20 percent export tax, however, remains in place.
The relaxation policy is seen only as a temporary measure as the government has reaffirmed its commitment to start banning mineral ores export starting January 12, 2014. The export quota and export tax were introduced to help prevent excessive overseas shipment of the mineral ores ahead of the planned export ban.
Editing by Reiner Simanjuntak