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The announcement of a ban on export of unprocessed metals and non-metallic minerals in the Minister of Energy and Mineral Resources ("MEMR") Regulation No. 7 of 2012 regarding the Improvement of Mineral Added Values Through Mineral Processing and Refining ("Regulation 7"), as discussed in our March 2012 e-bulletin, created a significant degree of uncertainty as to the timing of implementation of the proposed export ban
The Governor of Bank Indonesia ("BI"), the Indonesian central bank, has foreshadowed that BI is likely, by the end of September 2011, to issue a new Bank Indonesia regulation ("Regulation") requiring (i) Indonesian exporters, and (ii) Indonesian debtors receiving offshore loans (in a foreign currency) to deposit the proceeds in a domestic bank in Indonesia
