Govt plans to raise tin royalty, ban ingot exports

The government plans to raise the royalty on tin in a bid to gain more revenue amid surging commodity price, the Energy and Mineral Resources Ministry said on Tuesday. In doing so, the government will replace the previous flat royalty of 3 percent of the selling price – based on Government Regulation No. 81/2019 – with a progressive rate that increases with higher prices obtained by producers. “We are discussing this, running price simulations so that our country can acquire more revenue,” Ridwan Djamaluddin, the ministry’s coal and mineral resources director general, told lawmakers in a hearing with House of Representatives Commission VII, which oversees energy, mining, industry and research.