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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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Wednesday, 15 February 12
HBA FOR FEB 2012, CLIMBS 2.09 PERCENT AND REACHED US$ 111.58 PER TON
COALspot.com - The Indonesian coal reference price for February climbs 2.09 percent to US$111.58 per ton after losing past three months. ...
Monday, 13 February 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The current sentiment in the dry market resembles memories from the end of 2008, when the Baltic Dry Index closed at the level of 663 points on Dece ...
Sunday, 12 February 12
INDONESIA HAS ISSUED A REGULATION TO BAN THE EXPORT OF UNPROCESSED MINERALS AND METALS BY 2014
COALspot.com - The Indonesian government has finally issued a ministerial decree (7 Year 2012 dated 6 February 2012) to ban the export of unpro ...
Sunday, 12 February 12
THE BALTIC DRY INDEX CLIMBS 10.51%
COALspot.com - "The markets touched record lows not seen since mid 80’s. However there was some good news with signs of market recovery a ...
Saturday, 11 February 12
A SNAPSHOT ON THE ECONOMIC AND SHIPPING ENVIRONMENT - GOLDEN DESTINY
The week was highlighted with intense worries in the eurozone for Greece to secure its second bailout of $130billion by applying a ...
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- Kalimantan Lumbung Energi - Indonesia
- Borneo Indobara - Indonesia
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Energy Development Corp, Philippines
- Trasteel International SA, Italy
- White Energy Company Limited
- Therma Luzon, Inc, Philippines
- Eastern Coal Council - USA
- Star Paper Mills Limited - India
- GAC Shipping (India) Pvt Ltd
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Commonwealth Bank - Australia
- Sakthi Sugars Limited - India
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Mercator Lines Limited - India
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- GMR Energy Limited - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- Globalindo Alam Lestari - Indonesia
- Orica Mining Services - Indonesia
- Georgia Ports Authority, United States
- Tamil Nadu electricity Board
- Ind-Barath Power Infra Limited - India
- Australian Commodity Traders Exchange
- Cigading International Bulk Terminal - Indonesia
- Ministry of Finance - Indonesia
- ASAPP Information Group - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Bukit Baiduri Energy - Indonesia
- Intertek Mineral Services - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Africa Commodities Group - South Africa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Parry Sugars Refinery, India
- Cement Manufacturers Association - India
- Manunggal Multi Energi - Indonesia
- Thiess Contractors Indonesia
- Sree Jayajothi Cements Limited - India
- IHS Mccloskey Coal Group - USA
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- IEA Clean Coal Centre - UK
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- San Jose City I Power Corp, Philippines
- Essar Steel Hazira Ltd - India
- Australian Coal Association
- Videocon Industries ltd - India
- Siam City Cement - Thailand
- PowerSource Philippines DevCo
- The University of Queensland
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Chettinad Cement Corporation Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Indika Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Madhucon Powers Ltd - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- London Commodity Brokers - England
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Meenaskhi Energy Private Limited - India
- Baramulti Group, Indonesia
- Antam Resourcindo - Indonesia
- Bukit Makmur.PT - Indonesia
- PTC India Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Romanian Commodities Exchange
- The Treasury - Australian Government
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kideco Jaya Agung - Indonesia
- Simpson Spence & Young - Indonesia
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Petron Corporation, Philippines
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Planning Commission, India
- Salva Resources Pvt Ltd - India
- Vedanta Resources Plc - India
- Dalmia Cement Bharat India
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Rio Tinto Coal - Australia
- Karaikal Port Pvt Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Bulk Trading Sa - Switzerland
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Heidelberg Cement - Germany
- Anglo American - United Kingdom
- Bharathi Cement Corporation - India
- Electricity Authority, New Zealand
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Iligan Light & Power Inc, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Global Coal Blending Company Limited - Australia
- The State Trading Corporation of India Ltd
- Posco Energy - South Korea
- Parliament of New Zealand
- Mercuria Energy - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bayan Resources Tbk. - Indonesia
- Ministry of Mines - Canada
- CNBM International Corporation - China
- New Zealand Coal & Carbon
- Indian Energy Exchange, India
- Kumho Petrochemical, South Korea
- Bhushan Steel Limited - India
- Mjunction Services Limited - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coastal Gujarat Power Limited - India
- Larsen & Toubro Limited - India
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Meralco Power Generation, Philippines
- CIMB Investment Bank - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Makarim & Taira - Indonesia
- Indogreen Group - Indonesia
- VISA Power Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coalindo Energy - Indonesia
- Standard Chartered Bank - UAE
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- Xindia Steels Limited - India
- Central Electricity Authority - India
- Neyveli Lignite Corporation Ltd, - India
- Uttam Galva Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Indonesian Coal Mining Association
- ICICI Bank Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Power Finance Corporation Ltd., India
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Eastern Energy - Thailand
- Straits Asia Resources Limited - Singapore
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Banpu Public Company Limited - Thailand
- Aboitiz Power Corporation - Philippines
- Siam City Cement PLC, Thailand
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Latin American Coal - Colombia
- Chamber of Mines of South Africa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Electricity Generating Authority of Thailand
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
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