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UPDATE 1-Indonesia's Antam has 5 mln tonnes low-grade nickel ore for export
February 13, 2017 / 12:03 PM / 7 months ago

UPDATE 1-Indonesia's Antam has 5 mln tonnes low-grade nickel ore for export

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JAKARTA, Feb 13 (Reuters) - Indonesian state-controlled miner PT Aneka Tambang (Antam) has an estimated 5 million tonnes of low-grade wet nickel ore available for immediate shipping, corporate secretary Trenggono Sutioso told Reuters on Monday.

“Antam is ready in principle to follow government regulations including export taxes,” Sutioso said. “The estimated potential low grade nickel ore that can be utilised immediately is 5 million tonnes wet low grade nickel ore.”

Indonesia eased mining export rules last month, allowing export of unprocessed ore under certain conditions.

A ban on unprocessed ore exports was imposed in 2014 to encourage investment in value-added smelting projects but this restriction hit government revenues, contributing to a hefty budget deficit. The government missed its 2016 revenue target by $17.6 billion.

Antam is waiting for further guidance from the government before starting to export, Sutioso said when asked how soon Antam could start making shipments.

Separately, the Indonesian government said on Monday it had set new tax rates for mineral exports, including a flat 10 percent tax for nickel ore with a nickel content of less than 1.7 percent. (Reporting by Wilda Asmarini; Writing by Fransiska Nangoy. Editing by Jane Merriman)

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