Indonesia delays higher mining royalties and export duties

Indonesia has postponed plans to increase royalties and export duties on minerals until an "ideal formulation" is found that benefits both the government and mining companies, the mining minister said on Monday.

The proposed policy would have introduced higher royalty rates for mining companies and imposed export duties on shipments of certain minerals, including coal. However, the ministry is now gathering feedback from industry players to ensure the final policy does not place excessive strain on the sector.

Minister Bahlil Lahadalia stated that after considering input from the public and business community, the government will take time to develop a well-calibrated and mutually beneficial approach. Officials have previously emphasized the need to boost state revenue from the country's rich mineral resources.