Jakarta: Development of downstream industry in Indonesia's mining sector is one of the keys to survive and move forward amid rising global uncertainties, President Joko Widodo (Jokowi) has said.
Through downstreaming, President Jokowi explained, state revenues would significantly increase.
"I have said it back and forth. After stopping exports of nickel, we will also stop exports of tin, bauxite and copper," President Jokowi said at the 2022 Investor Daily Summit here on Tuesday, October 11, 2022.
The Indonesian Head of State also mentioned the acquisition of Freeport Indonesia's mines since the end of December 2018.
Since the agreement was realized, he stated, state revenues from the mines have significantly increased.
"After we took over 51 percent of the shares, we received more taxes, dividends, royalties, export duties, non-tax state revenues," he said.
"This means that the country is really receiving profits," he said.
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