JAKARTA, June 5 (Reuters): Indonesia will impose a 7.5 per cent export tax on shipments of copper concentrate, effective immediately, a finance ministry regulation showed on Tuesday, applicable to the two mining firms currently exempt from its ban on raw copper exports.
Indonesia has outlawed shipments of raw copper since June 2023, but authorities have permitted Freeport Indonesia and Amman Mineral Internasional to continue exporting until the end of 2024 to give them more time to complete construction of their copper smelters.
The last export permits for Freeport Indonesia and Amman were valid until May 31. For their January-May shipments, the government had imposed a tax ranging from 7.5 per cent to 15 per cent, depending on the progress of their smelters.
Freeport Indonesia, majority owned by the Indonesian government but operated by US miner Freeport-McMoran, declined to comment on the tax rate. A company spokesperson said it was still waiting for itsnew export permit.
Indonesia imposes 7.5pc export tax on raw copper shipments
FE Team | Published: June 05, 2024 23:41:25
Indonesia imposes 7.5pc export tax on raw copper shipments
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