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.
Gold FM is no longer 'faceless'. Now we can socialise with you on our Gold FM facebook page.
All you've got to do is click the link on the left and you'll be welcomed to our facebook page. We'd love you to 'like' us so that we can keep you up to date.
Gold FM - Hear the difference!
Â© Gold FM 2011.Â Gold FM retains the copyright on all textual content produced by them on this website. Images may also be subject to copyright.
Users are forbidden to copy, republish or redistribute material produced by Gold FM in any other form without permission from Gold FM.
For permissions and other copyright-related questions, please email your question to: firstname.lastname@example.org