new indonesian mining law, page-2

Looks like they want the value-add of processing locally instead of just shipping out concentrates.

This wont affect a free-milling gold production cos the gold is actually produced locally anyway.

There will be increased "nationalisation" of resources globally in some form or other, either by greater direct Government equity or higher taxes. The "local value added" angle cited by the Indons here wont affect goldcos but it certainly will affect the base metal miners who want to part-process to concentrates stage only and ship out to existing smelters etc elsewhere eg PRC. Proposed concentrates projects like HER's Dairi Zinc/Lead is one which comes to mind. Will mean more of these projects will be shelved adding further to likely coming supply shortages to fuel the resources supercycle third primary in combo with FIAT money devaluations coming still ahead.

Meanwhile POGold is moving ahead now that 830 resistance broken. Next tech line is at abt 930. Unless there is something sinister we cant see here, ORP's gold assets have just quantum-increased in value again.

IMBOOC