Losing Out
A number of loopholes in tin export regulations make it easy for smugglers to export tin to neighboring countries. Based on Trade Ministry regulations, tin bars are required to be exported through the Indonesia Commodity and Derivatives Exchange (ICDX) in order to monitor volume and value so that royalties and state revenues can be accurately calculated.
The reality, however, is that thousands of tons of tin sand and refined tin from Bangka-Belitung continue to pour into Singapore, Malaysia and Thailand, who produce refined tin far beyond what they could mine themselves. "The leak is from Indonesia," said Coordinating Minister for the Economy Sofyan Djalil.
July 28, 2015
A number of loopholes in tin export regulations make it easy for smugglers to export tin to neighboring countries. Based on Trade Ministry regulations, tin bars are required to be exported through the Indonesia Commodity and Derivatives Exchange (ICDX) in order to monitor volume and value so that royalties and state revenues can be accurately calculated.
The reality, however, is that thousands of tons of tin sand and refined tin from Bangka-Beli
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