We welcome article submissions from experts in the areas of coal, mining,
shipping, etc.
To Submit your article please click here.
|
|
|
Monday, 26 December 11
NEW EXPORT TAX PLAN GREETED WITH PRAISE AND CRITICISM - THE JAKARTA POST
 The Jakarta Post, one of the Indonesia's leading english news paper reported that, both praise and criticism showered the government’s plan to tax the export of minerals and base metals starting next year.
Economists say such an initiative is a testament to the government’s long-term economic vision, in which local manufacturers are encouraged to add value to commodities, as well as contributing to national energy security.
For local miners, on the other hand, the upcoming export tax would be an additional burden that could affect their financial performance amid global economic uncertainties that could jeopardize future expansion plans.
Arif Hadianto, a spokesperson for Indonesia’s fifth largest coal miner, PT Berau Coal Energy, said coal producers already paid 13.5 percent of their total sales as royalties to the government, on top of the income and value-added taxes.
“A new tax would automatically be a burden. The government must take into account that coal producers have an obligation to meet domestic demand,” Arif said on Sunday.
Separately, Resource Alam Indonesia head of investor relations Erif Tirtana said small- and medium-sized companies would be hurt most by the tax plan. “The export tax will be a double tax, as we are already paying royalties. I just hope that the ministry will consider our grievances,” he said.
PT Antam corporate secretary Bimo Budi Satriyo said that the export tax would reduce his company’s profits. Bimo said that Antam, which exports nickel to China, Korea, and Europe, had to give 5 percent off its sales prices per ton of high calorie (garnierite) nickel ore and 4 percent for every ton of low-calorie (limonite) nickel ore in royalty fees.
“We still don’t know what the regulation will look like. As long as the government considers the royalty we are already paying. It will be okay.”
Association of Indonesian Mining Professional chairman Irwandi Arif said that the government should calculate the amount of export tax to help companies maintain their profits. He said, the tax should be re-distributed to develop industry in the country.
“The export tax should be used to provide incentives in development of coal-powered power plants, for example, in Mulut Tambang [in Tanjung Enim, South Sumatra]. It would be troublesome if the government fails to synchronize the use of the tax,” Irwandi said.
The tax plan was first introduced last week by Industry Minister Mohamad S. Hidayat, who said that the ministry was preparing the export tax on mineral products to encourage the development of derivatives products from minerals and base metals by local industries.
Hidayat said the regulation was poised to be implemented in the first half of 2012, pending approval from the Finance Ministry.
“The growth of the downstream industry will create jobs, add value to our products and reduce dependence on imports,” said Hidayat. He promised that investors who invested in downstream industries would be given tax holidays.
The planned export tax is in line with the ongoing process carried out by the Energy and Mineral Resources Ministry, which is drafting a regulation that will ban exports of raw mining products beginning in 2014. Prohibiting exports of raw mining product is a part of the government’s commitment to fully implement the 2009 Mineral and Coal Law, requiring miners to process coal and mineral into added-value products before exporting them.
Mining expert Kurtubi said that the government’s move to impose export taxes on non-renewable coal and base metals was “logical” as other commodity-based industries were already paying more.
“State revenue from coal and general mining is very little. Corporate tax for general mining sector is about 35 to 40 percent, while the royalty as stated in the contract of work is only about 1 percent.”
Source: The Jakarta Post
If you believe an article violates your rights or the rights of others, please contact us.
|
|
Wednesday, 22 February 12
RAW COMMODITY EXPORT BAN SPARKS SMELTER BUILDING BOOM IN INDONESIA ANTARA / THE JAKARTA GLOBE
Antara / The Jakarta Globe reported that, as the government gears up to ban all exports of unprocessed commodities, Indonesia will see 12 new ...
Tuesday, 21 February 12
THREAT ISSUED ON MINERAL FIRMS AS GOVT PLANS EXPORT BAN - THE JAKARTA POST
The Jakarta Post, one of the leading english news papaer in Indonesia reported that, the government has given mineral producers three months to subm ...
Monday, 20 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU
The dry market experienced one more disappointing week with tonnage oversupply and limited cargo demand that pushes earnings for shipping players to ...
Monday, 20 February 12
JATENERGY SECURES FIRST 8000-TONNE COAL SALES CONTRACT FOR JONGKANG MINES
8000-tonne contract with Singaporean buyer signed for March delivery
50% down payment due in five working days
Production continues at both Jongka ...
Monday, 20 February 12
DIAN SWASTATIKA ACQUIRES ANDALAN LESTARI - INSIDER STORIES
Insider Stories reported that, PT Dian Swastatika Sentosa Tbk (DSSA), controlled by Fuganto Widjaja, son of Indra Widjaja, reported a 99.83% takeove ...
|
|
|
Showing 4841 to 4845 news of total 6871 |
|
 |
|
|
|
|
| |
|
 |
|
|
| |
|
- Riau Bara Harum - Indonesia
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Indian Energy Exchange, India
- Thiess Contractors Indonesia
- Ministry of Finance - Indonesia
- Petron Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sakthi Sugars Limited - India
- Bukit Makmur.PT - Indonesia
- Antam Resourcindo - Indonesia
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Bhoruka Overseas - Indonesia
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Ind-Barath Power Infra Limited - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Thai Mozambique Logistica
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- LBH Netherlands Bv - Netherlands
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Chamber of Mines of South Africa
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- Makarim & Taira - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Marubeni Corporation - India
- Gujarat Mineral Development Corp Ltd - India
- Straits Asia Resources Limited - Singapore
- Minerals Council of Australia
- Sinarmas Energy and Mining - Indonesia
- CIMB Investment Bank - Malaysia
- White Energy Company Limited
- New Zealand Coal & Carbon
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Trasteel International SA, Italy
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- SMG Consultants - Indonesia
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Manunggal Multi Energi - Indonesia
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Uttam Galva Steels Limited - India
- Meralco Power Generation, Philippines
- Anglo American - United Kingdom
- Wilmar Investment Holdings
- Indogreen Group - Indonesia
- Timah Investasi Mineral - Indoneisa
- Tamil Nadu electricity Board
- Aditya Birla Group - India
- Global Green Power PLC Corporation, Philippines
- Singapore Mercantile Exchange
- Sical Logistics Limited - India
- Dalmia Cement Bharat India
- Kaltim Prima Coal - Indonesia
- Coalindo Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Central Electricity Authority - India
- PetroVietnam Power Coal Import and Supply Company
- Leighton Contractors Pty Ltd - Australia
- Economic Council, Georgia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Carbofer General Trading SA - India
- Cement Manufacturers Association - India
- Parliament of New Zealand
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Baramulti Group, Indonesia
- Ambuja Cements Ltd - India
- Meenaskhi Energy Private Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Planning Commission, India
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Toyota Tsusho Corporation, Japan
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Posco Energy - South Korea
- The University of Queensland
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Lanco Infratech Ltd - India
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Commonwealth Bank - Australia
- Indika Energy - Indonesia
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Jindal Steel & Power Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Holcim Trading Pte Ltd - Singapore
- Banpu Public Company Limited - Thailand
- Borneo Indobara - Indonesia
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- GAC Shipping (India) Pvt Ltd
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- IEA Clean Coal Centre - UK
- Siam City Cement - Thailand
- OPG Power Generation Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Romanian Commodities Exchange
- Pipit Mutiara Jaya. PT, Indonesia
- Salva Resources Pvt Ltd - India
- Bayan Resources Tbk. - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- PTC India Limited - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Africa Commodities Group - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Mercator Lines Limited - India
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- San Jose City I Power Corp, Philippines
- Samtan Co., Ltd - South Korea
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Karaikal Port Pvt Ltd - India
- Deloitte Consulting - India
- Sree Jayajothi Cements Limited - India
- Ceylon Electricity Board - Sri Lanka
- Bangladesh Power Developement Board
- Essar Steel Hazira Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Mjunction Services Limited - India
- Altura Mining Limited, Indonesia
- Australian Coal Association
- Coal and Oil Company - UAE
- Latin American Coal - Colombia
- Price Waterhouse Coopers - Russia
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Miang Besar Coal Terminal - Indonesia
- Sindya Power Generating Company Private Ltd
- Indian Oil Corporation Limited
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- Simpson Spence & Young - Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Australian Commodity Traders Exchange
- Formosa Plastics Group - Taiwan
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Globalindo Alam Lestari - Indonesia
- Kepco SPC Power Corporation, Philippines
- Energy Development Corp, Philippines
- Energy Link Ltd, New Zealand
- Mercuria Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Videocon Industries ltd - India
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- GVK Power & Infra Limited - India
- Bharathi Cement Corporation - India
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- The State Trading Corporation of India Ltd
- Kapuas Tunggal Persada - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- India Bulls Power Limited - India
- Bhatia International Limited - India
- Indo Tambangraya Megah - Indonesia
- International Coal Ventures Pvt Ltd - India
- Eastern Coal Council - USA
|
| |
| |
|
