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Wednesday, 16 November 11
TAX OFFICE VOWS TO CRACK DOWN ON COAL MINERS - JP
 The Jakarta Post reported that, the Finance Ministry’s Directorate General of Taxation says that it will strengthen its supervision of coal mining companies amid indications of potential legal violations in calculating their tax payments.
Tax office spokesman Dedi Rudaedi said in a press release sent to The Jakarta Post on Tuesday that more tax supervisors who understood the technical aspects of coal mining would be assigned to ensure that there were no legal violations in calculating the companies’ tax burden.
Dedi added that the technical ministry overseeing coal mining companies, the Energy and Mineral Resources Ministry, had the expertise to determine production, cost recovery and operational costs of coal miners.
It was also important to improve the exchange of information between the tax office and the Energy and Mineral Resources Ministry, as mandated by the 2009 Taxation, he added.
“With that effort, the tax office can examine and ensure that the information contained in the tax forms submitted by taxpayers in the coal mining sector is true,” Rudi said.
Deputy Energy and Mineral Resources Minister Widjajono Partowidagdo said that calculating operational costs in the coal mining sector was not as transparent a process as it was in the oil and gas sector.
“In coal, miners calculate operational costs by themselves, while in the oil and gas sector, the amount of the costs must be approved by [upstream oil and gas regulator] BPMigas,” he said.
Widjajono said that a coal and mineral mining company’s revenues were comprised of operational costs, the government’s share and the company’s share.
The higher the costs, the smaller the returns to the government would be, he added.
Indonesian Coal Mining Association (APBI) chairman Bob Kamandanu told the Post that all costs and expenditures reported to the tax office and the Energy and Mineral Resources Ministry were audited first so there was only a very small possibility for a coal miner to balloon their operational cost figures.
“We have a tax officer supervising each coal company. Our financial statements must also be audited by public auditors. We are also audited by the Development Finance Comptroller [BPKP],” he said.
Bob said that the operational costs of coal miners usually came from subcontractors who charged them for each project undertaken.
Coal mining companies checked the validity of prices listed on invoices submitted by subcontractors before approving them, Bob added.
“However, we will fully support it if the government wants to improve its supervision of coal mining companies to check whether there is something wrong,” Bob said.
Indonesia’s coal production is estimated to reach 370 million tons in 2011, with 65 million tons allocated for the domestic market.
The Energy and Mineral Resources Ministry previously said it expected investment in the mineral and coal mining sector to reach US$3.2 billion this year, a slight increase from last year’s figure of $3.18 billion.
Source: The Jakarta Post (By Rangga D. Fadillah)
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Thursday, 17 November 11
DRY BULK MARKET INCHES FORWARD AND INTO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market edged higher yesterday, on the back of stronger demand for Capesize vessels and general improvement of sentiment on most of the ...
Thursday, 17 November 11
KOMIPO INVITES BIDS FOR 500K MT OF COAL
COALspot.com - Korea Midland Power Co. Ltd.(KOMIPO) is inviting bids for the supply of 500,000 Metric Tons of minimum 5700 kcal/kg coal of NAR bases ...
Thursday, 17 November 11
INDONESIAN GOVERNMENT PLANS TO ISSUE MORATORIUM ON COAL MINING LICENSE
COALspot.com - Energy and mineral resources ministry is plans to issue a moratorium on the issuance of coal mining licenses, after the anti-graft co ...
Wednesday, 16 November 11
KRISHNAPATNAM PORT BECOMES DEEPEST DRAFT PORT IN INDIA
COALspot.com - Krishnapatnam Port in its quest to be the best port in India has increased its draft to 17.5 meters, according to E-Mail statement fr ...
Wednesday, 16 November 11
CHINA'S INDONESIA COAL IMPORTS RISE IN OCTOBER
COALspot.com: Indonesia, the world largest coal exporter, shipped 31,162,688 MT of coal in October 2011.
China was a largest importer of Indonesi ...
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- Rio Tinto Coal - Australia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- Pendopo Energi Batubara - Indonesia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Madhucon Powers Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Semirara Mining Corp, Philippines
- Electricity Generating Authority of Thailand
- Videocon Industries ltd - India
- Kideco Jaya Agung - Indonesia
- GAC Shipping (India) Pvt Ltd
- Marubeni Corporation - India
- Anglo American - United Kingdom
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Meralco Power Generation, Philippines
- Australian Commodity Traders Exchange
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Bukit Baiduri Energy - Indonesia
- CNBM International Corporation - China
- Kepco SPC Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Formosa Plastics Group - Taiwan
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Port Waratah Coal Services - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thai Mozambique Logistica
- TNB Fuel Sdn Bhd - Malaysia
- Vedanta Resources Plc - India
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Singapore Mercantile Exchange
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Energy Development Corp, Philippines
- Commonwealth Bank - Australia
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- TeaM Sual Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- CIMB Investment Bank - Malaysia
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Indonesian Coal Mining Association
- Riau Bara Harum - Indonesia
- Posco Energy - South Korea
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kartika Selabumi Mining - Indonesia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Metalloyd Limited - United Kingdom
- Orica Mining Services - Indonesia
- Mjunction Services Limited - India
- Ministry of Mines - Canada
- Eastern Energy - Thailand
- ICICI Bank Limited - India
- Iligan Light & Power Inc, Philippines
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Tata Chemicals Ltd - India
- Economic Council, Georgia
- Cement Manufacturers Association - India
- Ind-Barath Power Infra Limited - India
- Mercuria Energy - Indonesia
- Ministry of Transport, Egypt
- Miang Besar Coal Terminal - Indonesia
- Thiess Contractors Indonesia
- Chamber of Mines of South Africa
- Salva Resources Pvt Ltd - India
- Bhushan Steel Limited - India
- Kaltim Prima Coal - Indonesia
- The State Trading Corporation of India Ltd
- Kohat Cement Company Ltd. - Pakistan
- Directorate Of Revenue Intelligence - India
- Medco Energi Mining Internasional
- Simpson Spence & Young - Indonesia
- Georgia Ports Authority, United States
- Indika Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Aditya Birla Group - India
- Maheswari Brothers Coal Limited - India
- Ambuja Cements Ltd - India
- Borneo Indobara - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhoruka Overseas - Indonesia
- Independent Power Producers Association of India
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- New Zealand Coal & Carbon
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Attock Cement Pakistan Limited
- Agrawal Coal Company - India
- Meenaskhi Energy Private Limited - India
- Grasim Industreis Ltd - India
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- OPG Power Generation Pvt Ltd - India
- Wilmar Investment Holdings
- Sojitz Corporation - Japan
- Jaiprakash Power Ventures ltd
- Minerals Council of Australia
- Bharathi Cement Corporation - India
- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Karaikal Port Pvt Ltd - India
- SMC Global Power, Philippines
- Cigading International Bulk Terminal - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- Merrill Lynch Commodities Europe
- Bhatia International Limited - India
- San Jose City I Power Corp, Philippines
- White Energy Company Limited
- MS Steel International - UAE
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Mercator Lines Limited - India
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Global Coal Blending Company Limited - Australia
- Energy Link Ltd, New Zealand
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement PLC, Thailand
- Gujarat Mineral Development Corp Ltd - India
- India Bulls Power Limited - India
- Sindya Power Generating Company Private Ltd
- GVK Power & Infra Limited - India
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Bayan Resources Tbk. - Indonesia
- Antam Resourcindo - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Goldman Sachs - Singapore
- Coalindo Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Latin American Coal - Colombia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Mintek Dendrill Indonesia
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- VISA Power Limited - India
- Semirara Mining and Power Corporation, Philippines
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Globalindo Alam Lestari - Indonesia
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- Uttam Galva Steels Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Petron Corporation, Philippines
- Parliament of New Zealand
- Australian Coal Association
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- McConnell Dowell - Australia
- Asmin Koalindo Tuhup - Indonesia
- International Coal Ventures Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
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