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Indonesia imposes 7.5% export tax on copper concentrate shipments
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Indonesia imposes 7.5% export tax on copper concentrate shipments
Jun 4, 2024 3:57 AM

JAKARTA, June 4 (Reuters) - Indonesia will impose a 7.5%

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% to 15%, depending

on the progress of their smelters.

Freeport and Amman did not immediately respond to requests

for comments on the tax rate and the status of their new export

permits.

On Monday, an executive with Freeport Indonesia, majority

owned by the Indonesian government but operated by U.S. miner

Freeport-McMoran ( FCX ), said the company was still waiting for

an extension of its export permit that the government had

promised.

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