Indonesia’s ore export ban to cost 100,000s of jobs

Indonesia mineIndonesia’s planned ban on mineral ore shipments in 2014 may cost hundreds of thousands of job losses in Southeast Asia’s largest economy, the Indonesian Chamber of Commerce and Industry said in a statement on December 16.

Around 800,000 workers are directly or indirectly dependent on the mining industry and may be unemployed, the chamber said. Furthermore, mining companies may go bankrupt, default on loans and stop making tax payments. The ban also may affect mining contractors, suppliers and communities living near mines.

The government wants to increase the value of commodity shipments by promoting local processing and plans to prohibit ore shipments from the largest mined nickel producer after January 12, 2014. Futures surged to a one-month high in London last week on prospects for disruptions to global supply. A clear transition plan is needed to avoid adding pressure on the current account because of the ore curbs, the International Monetary Fund said in its annual country assessment.



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Indonesia’s planned ban on mineral ore shipments in 2014 may cost hundreds of thousands of job losses in Southeast Asia’s largest economy, the Indonesian Chamber of Commerce and Industry said in a statement on December 16. Around 800,000 workers are directly or indirectly dependent on the mining industry and may be unemployed, the chamber said. Furthermore, mining companies may go bankrupt, default on loans and stop making tax payments. The ban also may affect mining contractors, suppliers and communities living near mines. The government wants to increase the value of commodity shipments by promoting local processing and plans to prohibit...

Indonesia mineIndonesia’s planned ban on mineral ore shipments in 2014 may cost hundreds of thousands of job losses in Southeast Asia’s largest economy, the Indonesian Chamber of Commerce and Industry said in a statement on December 16.

Around 800,000 workers are directly or indirectly dependent on the mining industry and may be unemployed, the chamber said. Furthermore, mining companies may go bankrupt, default on loans and stop making tax payments. The ban also may affect mining contractors, suppliers and communities living near mines.

The government wants to increase the value of commodity shipments by promoting local processing and plans to prohibit ore shipments from the largest mined nickel producer after January 12, 2014. Futures surged to a one-month high in London last week on prospects for disruptions to global supply. A clear transition plan is needed to avoid adding pressure on the current account because of the ore curbs, the International Monetary Fund said in its annual country assessment.



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Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

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