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Trade ministry enforces relaxation of mining products

Tempo - June 4, 2024

Han Revanda Putra, Jakarta – The Trade Ministry has implemented export relaxation for a number of mining products until December 31, 2024. The commodities include laterite iron concentrate, copper concentrate, zinc concentrate, lead concentrate, and anode slime.

The Trade Ministry previously enforced Trade Ministerial Regulation (Permendag) No. 22 of 2023 on Goods Prohibited for Export, which takes effect on June 1, 2024. However, it was postponed until December 31, 2024, and will take effect starting January 1, 2025, following the issuance of Trade Ministerial Regulation No. 10 of 2024 on the amendments to Permendag No. 22/2023.

Director General of Foreign Trade, Budi Santoso, stated that this relaxation aims to create a processing and refining industry that can export value-added mining products. "[The objective is] to guarantee business certainty in the country and create a good business climate," he said in a press release from the Trade Ministry on Monday, June 3.

Budi said that the relaxation of mining product exports was in line with the government's goal of downstreaming mining products. He hopes that all stakeholders, both government and business entities, can work together to advance domestic industry.

In line with this, the Trade Ministry revised Regulation No. 23 of 2023 on Export Policies and Regulations to Regulation No. 11 of 2024, in a bid to provide legal certainty and business certainty for the business actors when applying for permits in the export sector.

He added that there are not many significant changes contained in Permendag No. 11 of 2024, and business players could apply for permits as usual.

Source: https://en.tempo.co/read/1875756/trade-ministry-enforces-relaxation-of-mining-product