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Indonesia has raised mining taxes, with the nickel industry experiencing the largest increase. Industry giants warn that this may lead to production cuts or shutdowns!
The Indonesian government raised the royalty tax rates for nickel, Coal, Copper, Gold, and other minerals over the weekend. The biggest increase was in the nickel sector, which will rise from 10% to 14%-19%. Hendra Sinadia, Executive Director of the Indonesian Mining Association, warned that the operational costs for mining companies will increase and profits will be affected. Some companies may have to reduce production or even close mines.
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