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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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- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Latin American Coal - Colombia
- Trasteel International SA, Italy
- Indonesian Coal Mining Association
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Altura Mining Limited, Indonesia
- Kumho Petrochemical, South Korea
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Directorate Of Revenue Intelligence - India
- CNBM International Corporation - China
- AsiaOL BioFuels Corp., Philippines
- Bangladesh Power Developement Board
- Medco Energi Mining Internasional
- Maharashtra Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- Thiess Contractors Indonesia
- Interocean Group of Companies - India
- Wilmar Investment Holdings
- Bukit Baiduri Energy - Indonesia
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Carbofer General Trading SA - India
- San Jose City I Power Corp, Philippines
- Mintek Dendrill Indonesia
- Chamber of Mines of South Africa
- Billiton Holdings Pty Ltd - Australia
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- Sakthi Sugars Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Jorong Barutama Greston.PT - Indonesia
- Renaissance Capital - South Africa
- Indogreen Group - Indonesia
- Attock Cement Pakistan Limited
- Port Waratah Coal Services - Australia
- Tamil Nadu electricity Board
- CIMB Investment Bank - Malaysia
- Australian Commodity Traders Exchange
- Indian Oil Corporation Limited
- Eastern Coal Council - USA
- Planning Commission, India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Commonwealth Bank - Australia
- McConnell Dowell - Australia
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- PowerSource Philippines DevCo
- Dalmia Cement Bharat India
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Metalloyd Limited - United Kingdom
- LBH Netherlands Bv - Netherlands
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Banpu Public Company Limited - Thailand
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Siam City Cement - Thailand
- The University of Queensland
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Economic Council, Georgia
- Makarim & Taira - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Global Coal Blending Company Limited - Australia
- ICICI Bank Limited - India
- Miang Besar Coal Terminal - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Orica Australia Pty. Ltd.
- Borneo Indobara - Indonesia
- Bharathi Cement Corporation - India
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Posco Energy - South Korea
- Kartika Selabumi Mining - Indonesia
- Meralco Power Generation, Philippines
- Bhoruka Overseas - Indonesia
- European Bulk Services B.V. - Netherlands
- Cement Manufacturers Association - India
- Salva Resources Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Bulk Trading Sa - Switzerland
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- MS Steel International - UAE
- Sinarmas Energy and Mining - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Kaltim Prima Coal - Indonesia
- PNOC Exploration Corporation - Philippines
- Mjunction Services Limited - India
- Ind-Barath Power Infra Limited - India
- White Energy Company Limited
- Wood Mackenzie - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Ministry of Transport, Egypt
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Global Business Power Corporation, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Toyota Tsusho Corporation, Japan
- Straits Asia Resources Limited - Singapore
- Antam Resourcindo - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Goldman Sachs - Singapore
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Videocon Industries ltd - India
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indo Tambangraya Megah - Indonesia
- Edison Trading Spa - Italy
- Sojitz Corporation - Japan
- Pendopo Energi Batubara - Indonesia
- Binh Thuan Hamico - Vietnam
- Barasentosa Lestari - Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Bayan Resources Tbk. - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- ASAPP Information Group - India
- Sarangani Energy Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Aditya Birla Group - India
- Minerals Council of Australia
- Intertek Mineral Services - Indonesia
- Standard Chartered Bank - UAE
- Oldendorff Carriers - Singapore
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Timah Investasi Mineral - Indoneisa
- Chettinad Cement Corporation Ltd - India
- Therma Luzon, Inc, Philippines
- Heidelberg Cement - Germany
- Larsen & Toubro Limited - India
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Ceylon Electricity Board - Sri Lanka
- Mercator Lines Limited - India
- London Commodity Brokers - England
- The Treasury - Australian Government
- Ministry of Finance - Indonesia
- Power Finance Corporation Ltd., India
- TeaM Sual Corporation - Philippines
- Deloitte Consulting - India
- Formosa Plastics Group - Taiwan
- Krishnapatnam Port Company Ltd. - India
- Xindia Steels Limited - India
- Energy Development Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Rio Tinto Coal - Australia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IEA Clean Coal Centre - UK
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- VISA Power Limited - India
- OPG Power Generation Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Lanco Infratech Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Australian Coal Association
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