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Indonesia Considers New Tax on Mining Exports
Indonesia is considering a hefty tax on mining exports to stop multinational miners from overexploiting resources to beat a 2014 ban on shipments of some unprocessed metals, but the plan may backfire as importers start to look elsewhere for supplies. According to Reuters, the proposal to impose a 25% export tax on coal and base metals, increasing to 50% in 2013, was met with a mix of confusion and skepticism as both producers and buyers across Asia tried to assess its impact.