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Susilo Bambang Yudhoyono

Indonesia braces for impact of mineral export ban

Indonesia's government was scrambling to pass last-minute regulations to limit the impact of a controversial ban that could halt billions of dollars worth of unprocessed mineral ore exports from Sunday.The Southeast Asian nation is the world's biggest exporter of nickel ore, refined tin and thermal coal and home to the fifth largest copper mine and top gold mine. Mineral shipments totaled $10.4 billion in 2012, or around 5 percent of Indonesia's total exports, according to the World Bank.The ban aims to boost Indonesia's long-term returns from its mineral wealth, but officials fear a short-term cut in foreign revenue could widen the current account deficit, which has undermined investor confidence and battered the rupiah currency.Despite having more than five years to prepare for the mining law, officials just days ahead of the ban were rushing to try to soften the potential blow of the new policies."The government of Indonesia will still implement the mining law consistently. But we a...

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  1. Indonesia's widening deficit takes toll on resource nationalism drive

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    White sugar prices hit a record in Indonesia last summer and further spikes are expected this year even though the world is awash with the sweetener. The main cause,...

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