The statement was given by a few key ministers of Indonesia - Coordinating Economic Minister Hatta Rajasa, Energy and Mineral Resources Minister Jero Wacik, Industry Minister MS Hidayat - in a press conference late on Saturday evening.

Due to this moderation of Mining Law No.4/2009 major miners, such as Freeport McMoRan, will be able to continue to export mineral concentrates until 2017. However, the Indonesian government will impose new and higher taxes on these exports for the next three years.

Further Reading:

• Indonesia Seeking Middle Way in Unprocessed Mineral Export Ban

Indonesia's Mining Export Ban Impacts on Current Account Deficit in 2014
Indonesia Might Delay Implementation of Mineral Export Ban by 3 Years
Indonesia May Review its Ban on the Export of Unprocessed Minerals
Go-Ahead for Indonesia's Controversial Ban on Unprocessed Mineral Exports
Indonesia Studying Temporary Exemption for Export of Raw Minerals
Export Ban on Unprocessed Minerals Temporarily Pressures Trade Balance