JAKARTA(Scrap Monster):To discuss Jakarta's proposed mining export regulations, a trade mission to Indonesia has been planned by the Philippine government, most likely this year.
Inputs from Philippine industry participants has been solicited from the Philippine Trade and Investment Center, under the Philippine embassy in Indonesia on Jakarta's plan to ban the export of raw minerals from 2014. No date had been set yet for the trade mission.
The ban applied to coal has added the Philippines import more than 80% of its coal requirements from Indonesia. Philippines has imported coal and copper concentrates from Indonesia worth about $700 million in 2011.
A regulation has been issued by the Indonesia's ministry of finance in May, on the method for calculating the export tax on 65 minerals. Coal, both thermal and metallurgical, however, was not included in the list.
Indonesia may not ban the export of thermal coal with low calorific value, or impose an export tax, but would definitely regulate production and exports, and would look to increase revenue from the commodity.
The energy and minerals ministry could propose to the trade ministry to monitor coal exports. Alternatively, the government could increase in stages the 3-5% royalty payment for low-grade thermal coal to 13.5%.
If coal exports needed to be monitored exporters would need to secure a license.The proposals were still under discussion and no decision had been taken.
The proposals were made after Indonesia announced it would impose an export tax on coal and ban the export of low-rank thermal coal.
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