Resumen de Indonesian export ban comes into force
Indonesia has pushed ahead with a controversial ban on exports of unprocessed mineral ores which is expected to dent global supplies of several raw materials including bauxite, limestone, quartz, zeolite, feldspar, iron ore, slate and onyx.
The aim of the ban is to increase Indonesia's mineral revenues long term by shifting the balance of shipments in favour of more expensive, value-added mineral products.
"The Indonesian Energy and Mineral Resources Ministry has estimated that bauxite production could fall to 1m tonnes this year from over 47m tonnes in 2013," Barclays analysts said in a note to clients the weekend before the ban came into force.
