Jakarta (VNA) - Indonesia will continue exporting some raw minerals in 2024 in the context that domestic companies are rushing to finish smelters to process the metal ore, said Minister of Energy and MineralResources Arifin Tasrif.

The resource-rich country had planned to banexports of all metal ore starting in June 2023 to encourage investment in thedomestic processing industry.

But copper, iron ore, lead, zinc and anode mudfrom copper concentrates will be allowed to leave the country until May nextyear so smelters, many of which were delayed by the COVID-19 pandemic, would be ready tohandle the materials.

The minister said banning exports prematurelywould cost the country revenue and jobs.

Companies can keep exporting if they pay exportduties and if their smelters were at least half-completed as of January. Butthey will be fined for every month of delay, Arifin noted.

The Indonesian government has said it wouldexempt copper miners Freeport Indonesia and Amman Mineral Nusa Tenggara fromthe ban as their smelter development was also disrupted by the pandemic.

However, bauxite shipments will be stopped inJune, Arifin said, since four existing smelters can absorb ores intended forexport.

However, Ronald Sulistianto, Chairman ofIndonesian Bauxite and Iron Ore Companies Association, said there are only twooperating bauxite plants in the country, producing 30 million tonnes.

In 2020, Indonesia banned exports of nickel ore,rattling global markets. But the policy resulted in massive inflows of smelterinvestment and helped boost the value of exports from the country./.