Make Kitco Your Homepage

Mining News

Indonesia reviewing possible impacts of plan to limit tin exports

Reuters

Kitco News

(Releads, adds details, background)

JAKARTA, Jan 31 (Reuters) - Indonesia is reviewing any potential negative impact from a plan to restrict exports of tin ingot, a government official said on Tuesday, including the possibility of introducing it in phases.

Indonesia, the world's biggest exporter of refined tin, is planning to ban shipments of tin ingot to create further processing at home, President Joko Widodo said last year.


The resource-rich country is set to ban exports of all unprocessed metal ore in June 2023 to develop processing facilities at home. Indonesia exports refined tin currently, but intends to produce other products from tin domestically.

Ridwan Djamaluddin, a senior official at the Energy and Mineral Resources Ministry, said authorities were doing systematic preparation to avoid any negative fallout of the tin export restrictions.

"Currently only 5% of the production can be absorbed by domestic market, we are reviewing how to mitigate the negative impacts," he said. He said authorities were considering imposing the export ban in stages until the domestic downstream facilities were available. He did not provide a timeline.

(Reporting by Bernadette Christina Munthe Writing by Fransiska Nangoy; Editing by Martin Petty)

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.