Lates News

Indonesia previously raised the tax rates on nickel, coal, copper, gold, and other mineral production. This measure affected some of the world's largest mining groups, including Vale and Freeport-McMoRan. The tax rate on nickel will be increased from a uniform 10% to 14% to 19%, depending on the price of nickel metal. Indonesia is the world's largest nickel producing country, and nickel is a key component in stainless steel and electric vehicle batteries.