Indonesia has ruled out a plan to impose 25% export tax on mining products this year.

Indonesian Energy Minister Jero Wacik and Finance Minister Agus Martowardojo made the statement Wednesday evening. "There has been no such plan this year," Wacik told Xinhua at the State Palace. "We still do not have the plan to impose export tax this year, all of that is still being studied,"he added.

Media reports said that the government plans to impose a 25 percent export tax on mining products this year and 50 percent next year.

Indonesia has imposed export taxes on palm oil and cocoa to boost domestic supply.

Indonesia is the world's biggest exporter of refined tin and thermal coal. It is home to the world's second-largest copper mine and largest gold mine as well as home to nickel mine.