Posted by on 14/01/2014
Even though Indonesia has banned the export of its mineral resources Newmont and another mining company, Freeport-McMoRan, has been given a temporary exemption to continue exporting minerals.
Itâ€™s hoped a greater share of the profits from mining will remain in Indonesia if minerals are processed locally, but sceptics believe it could lead to massive job cuts and increase Indonesiaâ€™s trade deficit.
Speculation that the ban may result in a decreased supply of metals saw prices rise on Monday, just a day after legislation, which was introduced in 2009, was signed off by Indonesiaâ€™s president.
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