Govt to Announce Mineral Export Ban Next Month
Investment Minister/Head of BKPM Bahlil Lahadalia revealed the government's plan to stop exports of several mineral commodities, such as tin, bauxite, and copper, in Nov 2022. The government is currently formulating some downstream scenarios for these minerals. "We are working on the regulation. We will talk about the downstream system, how far it will affect the economy," he said on Wednesday. He expects the drafting to be completed in November.
To create a maximum impact, the export ban policy and downstream program must be implemented side by side. The downstream program for nickel, for example, boosted the export value of nickel sub-products to US$20.9 billion last year.