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ARTICLE · 20 MAY 2014

Indonesia’s raw ore export ban – five months on

Norton Rose Fulbright Australia
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MEMR circulated a draft regulation to alter divestment requirements for smelter companies in favour of foreign investors.

AustraliaEnergy and Natural Resources
Rick Beckman
Rick Beckman
Emir Pohan
Emir Pohan
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Introduction

Indonesia's ban on raw ore exports has only been in effect for five months, but the Government already appears to be reconsidering its approach.

In February this year ( Raw Ore Ban Rocks Indonesia – Legal Battles Continue), we reported that Indonesia's controversial ban on exports, and requirement that all ore processing be conducted onshore, had finally come into effect.

During the first quarter of 2014, raw ore output and exports plummeted, mass worker layoffs were reported, and Foreign Direct Investment rose only 9.8% on a year-on-year basis, to hit US$6.2 billion. This was far below the 25% increase recorded in the previous quarter, and was attributed to a combination of the raw ore export ban and jitters leading up to the Presidential elections in July. The impact of the ban seems to be hitting home.

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