BALI, Indonesia -- Indonesia's government on Wednesday defended the country's plan to hike mineral royalties, arguing the policy that has attracted widespread criticism from industry will "benefit" Southeast Asia's largest economy.
Ministers have announced that royalties on nickel ore output will increase from 10% to a range of 14%-19%, depending on price levels, on April 26. Royalties on other minerals, such as coal, gold, copper and tin, will be adjusted based or various criteria -- including prices and permits -- but in many cases they will double.
