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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
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Monday, 20 February 12
COAL BOOM AND ENVIRONMENTAL CONCERN - SUNIL K KUMBHAT
COALspot.com - The dawn of the 21st century has seen a shift in the world's commercial balance of power, with the dominance of the US, Europe and J ...
Sunday, 19 February 12
THE SPOT FIXTURE RATES WERE REPORTED AT HIGH LEVELS - VISTAAR
COALspot.com - "The markets seems to holding back this week appears the momentum which picked up last week may slow down" - Capt. Reddy of ...
Sunday, 19 February 12
INDIKA ACQUIRES MULTI TAMBANGJAYA - INSIDER STORIES
Insider Stories reported that, PT Indika Energy Tbk (INDY) announced that wholly-owned subsidiaries have signed a conditional sale and purchase agre ...
Friday, 17 February 12
COLOMBIA COAL PRODUCTION, EXPORTS JUMP IN 2011: GOVT - COLOMBIA REPORTS
Colombia Reports reported that, colombia's coal production jumped 15.4% in 2011 to 85.8 million tonnes versus the previous year while exports rose ...
Thursday, 16 February 12
GEARING UP FOR THE EMERGING OIL & GAS OPPORTUNITIES IN MYANMAR
Press Release - Myanmar Ministry of Energy and Centre for Management Technology (CMT) to Co-host MOGP (Myanmar Oil, Gas & Power) Summit on 28 - ...
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- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Krishnapatnam Port Company Ltd. - India
- Leighton Contractors Pty Ltd - Australia
- Sarangani Energy Corporation, Philippines
- White Energy Company Limited
- Posco Energy - South Korea
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Sical Logistics Limited - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Aboitiz Power Corporation - Philippines
- Indogreen Group - Indonesia
- PowerSource Philippines DevCo
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Mercator Lines Limited - India
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- New Zealand Coal & Carbon
- Wood Mackenzie - Singapore
- Timah Investasi Mineral - Indoneisa
- Attock Cement Pakistan Limited
- Rashtriya Ispat Nigam Limited - India
- Therma Luzon, Inc, Philippines
- Planning Commission, India
- Petrochimia International Co. Ltd.- Taiwan
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- Tata Chemicals Ltd - India
- Coastal Gujarat Power Limited - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Gujarat Sidhee Cement - India
- Sakthi Sugars Limited - India
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Aditya Birla Group - India
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- AsiaOL BioFuels Corp., Philippines
- Kalimantan Lumbung Energi - Indonesia
- Riau Bara Harum - Indonesia
- Altura Mining Limited, Indonesia
- International Coal Ventures Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kideco Jaya Agung - Indonesia
- Savvy Resources Ltd - HongKong
- Jaiprakash Power Ventures ltd
- Cement Manufacturers Association - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- IHS Mccloskey Coal Group - USA
- Energy Development Corp, Philippines
- CNBM International Corporation - China
- Maharashtra Electricity Regulatory Commission - India
- Africa Commodities Group - South Africa
- Power Finance Corporation Ltd., India
- Kepco SPC Power Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Bhushan Steel Limited - India
- Intertek Mineral Services - Indonesia
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meenaskhi Energy Private Limited - India
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Merrill Lynch Commodities Europe
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Price Waterhouse Coopers - Russia
- Indian Energy Exchange, India
- Central Electricity Authority - India
- San Jose City I Power Corp, Philippines
- Jindal Steel & Power Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- Port Waratah Coal Services - Australia
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Orica Mining Services - Indonesia
- Interocean Group of Companies - India
- Mintek Dendrill Indonesia
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Makarim & Taira - Indonesia
- Electricity Generating Authority of Thailand
- Wilmar Investment Holdings
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Coal and Oil Company - UAE
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- London Commodity Brokers - England
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Goldman Sachs - Singapore
- Bahari Cakrawala Sebuku - Indonesia
- OPG Power Generation Pvt Ltd - India
- Eastern Energy - Thailand
- Billiton Holdings Pty Ltd - Australia
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Global Business Power Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Larsen & Toubro Limited - India
- Bharathi Cement Corporation - India
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Thiess Contractors Indonesia
- Georgia Ports Authority, United States
- Bhatia International Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Kartika Selabumi Mining - Indonesia
- Carbofer General Trading SA - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Uttam Galva Steels Limited - India
- Bulk Trading Sa - Switzerland
- The Treasury - Australian Government
- India Bulls Power Limited - India
- Star Paper Mills Limited - India
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- Bayan Resources Tbk. - Indonesia
- Videocon Industries ltd - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Sojitz Corporation - Japan
- Mercuria Energy - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Siam City Cement - Thailand
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Binh Thuan Hamico - Vietnam
- Xindia Steels Limited - India
- TeaM Sual Corporation - Philippines
- Independent Power Producers Association of India
- IEA Clean Coal Centre - UK
- Australian Coal Association
- The University of Queensland
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Minerals Council of Australia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- CIMB Investment Bank - Malaysia
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Agrawal Coal Company - India
- McConnell Dowell - Australia
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Pendopo Energi Batubara - Indonesia
- Medco Energi Mining Internasional
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Latin American Coal - Colombia
- SN Aboitiz Power Inc, Philippines
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Ministry of Mines - Canada
- Directorate General of MIneral and Coal - Indonesia
- Manunggal Multi Energi - Indonesia
- Petron Corporation, Philippines
- Standard Chartered Bank - UAE
- Sindya Power Generating Company Private Ltd
- Indonesian Coal Mining Association
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Rio Tinto Coal - Australia
- Mjunction Services Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Edison Trading Spa - Italy
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- Jorong Barutama Greston.PT - Indonesia
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