Freeport-Indonesia deal sets initial tax on copper exports at 7.5%

Freeport Indonesia will resume copper concentrate exports next month after agreeing to export taxes as per a new regulation, a $115-million bond assuring smelting capacity and higher royalties on copper and gold.

"PTFI will resume full operations immediately and concentrate exports are expected to commence in August 2014,” it said on Friday July 25.
The revised regulations provide for duties on copper concentrate exports during smelter development initially at 7.5%, dropping to 5% when development progress exceeds 7.5% and 0% when development progress exceeds 30%, the miner said.

As per a progressive tax...

Published

Deepali Sharma

July 27, 2014

10:59 GMT

Singapore