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Indonesian Bauxite Miners Wait And See The Market

2017-05-04 15:19:22

Indonesian Bauxite Miners Wait And See The Market

In January 2014, Indonesia began to ban bauxite exports, then the market has repeatedly rumors to resume exports. Recently, the market once again rumors that Indonesia will be conditionally restored exports in early 2017. Indonesian bauxite miners wait and see the market and look forward to the new policy landing.

Indonesia's bauxite miners revealed that the Indonesian mining minister may announce a new policy on bauxite exports in the coming week. "Minerals who invest in alumina plants in Indonesia are expected to receive export quotas," the source said.

Indonesian Bauxite Miners Wait And See The MarketIndonesian Bauxite Aluminum Plant

The source said they have invested in alumina smelting projects in Bindu island and China's alumina plant. A 100 million tons plan will start in the next year.

At present, the mine owner holds about 300 million tons of bauxite stock, its reserves is 200 million tons. By the end of 2013, his bauxite export FOB price is about 40 US dollars / ton. , Another Indonesia bauxite mine owner confirmed that they are waiting and see the market. "There have been many rumors before, but no results. This time we are not sure," the source said. They have about 200,000 tons bauxite stock.

Its annual production capacity can reach to 600,000 tons, there is no investment in alumina projects.

By the end of 2013, they export 50,000 tons of bauxite to China each month, the bauxite FOB price is about 53-55 US dollars / ton.

Indonesia's minister of Economic Co-ordination said, if the miners meet specific conditions, Indonesia will allow to export concentrates after January 2017. Darmin Nasution said the mining contract has to obtain a special mining license to continue to export concentrates. In addition, they must pay export taxes and build refineries within five years.

The Indonesian government plan to relax its export restrictions does not match the 2009 mining laws, but the large mining companies will benefit from it. Indonesia's mining act of 2009 stipulates that the export ban came into effect in 2014, but without the specific timetable for downstream smelter construction, the ban has been postponed since 2014. Mineral companies will benefit from the policy of easing ore export restrictions, some miners in the country have welcomed the plan. US mining giant free port company said it is in line with relaxing the ore export restrictions plan. They hope the expired contract can be extended as soon as possible. Indonesian state-owned mining company Antam said the policy will help the company expand, and bring about $ 1 billion export taxes to the government in the next five years.

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