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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, 01 February 12
2% OF IBPS TOTAL CONCESSION AREA CONTAINS TOTAL COAL RESOURCE OF 56.1 MILLION TON
COALspot.com - PT. Britmindo, a mine consulting firm, has finalized PT. Insani Bara Perkasa (IBP) first JORC (Joint Ore Reserves Committee) res ...
Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
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- PNOC Exploration Corporation - Philippines
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Petron Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Grasim Industreis Ltd - India
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Medco Energi Mining Internasional
- SMG Consultants - Indonesia
- Jaiprakash Power Ventures ltd
- Gujarat Sidhee Cement - India
- Bhushan Steel Limited - India
- IHS Mccloskey Coal Group - USA
- South Luzon Thermal Energy Corporation
- Planning Commission, India
- Chettinad Cement Corporation Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Bulk Trading Sa - Switzerland
- Bahari Cakrawala Sebuku - Indonesia
- Bangladesh Power Developement Board
- Carbofer General Trading SA - India
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- Deloitte Consulting - India
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- The State Trading Corporation of India Ltd
- Global Coal Blending Company Limited - Australia
- Electricity Generating Authority of Thailand
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Singapore Mercantile Exchange
- Coastal Gujarat Power Limited - India
- Kobexindo Tractors - Indoneisa
- Indonesian Coal Mining Association
- Kumho Petrochemical, South Korea
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- Miang Besar Coal Terminal - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Kideco Jaya Agung - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- ASAPP Information Group - India
- Indian Energy Exchange, India
- Gujarat Mineral Development Corp Ltd - India
- Eastern Coal Council - USA
- Jindal Steel & Power Ltd - India
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- Sical Logistics Limited - India
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Sarangani Energy Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- LBH Netherlands Bv - Netherlands
- Chamber of Mines of South Africa
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Samtan Co., Ltd - South Korea
- Straits Asia Resources Limited - Singapore
- Timah Investasi Mineral - Indoneisa
- Essar Steel Hazira Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GMR Energy Limited - India
- Energy Link Ltd, New Zealand
- Ind-Barath Power Infra Limited - India
- Semirara Mining and Power Corporation, Philippines
- MS Steel International - UAE
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- Posco Energy - South Korea
- Bharathi Cement Corporation - India
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Siam City Cement PLC, Thailand
- IEA Clean Coal Centre - UK
- Madhucon Powers Ltd - India
- Ministry of Finance - Indonesia
- Port Waratah Coal Services - Australia
- Larsen & Toubro Limited - India
- Tamil Nadu electricity Board
- PTC India Limited - India
- Kartika Selabumi Mining - Indonesia
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Attock Cement Pakistan Limited
- The University of Queensland
- Indogreen Group - Indonesia
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Neyveli Lignite Corporation Ltd, - India
- Central Electricity Authority - India
- Thai Mozambique Logistica
- ICICI Bank Limited - India
- Sree Jayajothi Cements Limited - India
- Commonwealth Bank - Australia
- Latin American Coal - Colombia
- Sinarmas Energy and Mining - Indonesia
- Malabar Cements Ltd - India
- Salva Resources Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- Wilmar Investment Holdings
- AsiaOL BioFuels Corp., Philippines
- Xindia Steels Limited - India
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Binh Thuan Hamico - Vietnam
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Renaissance Capital - South Africa
- India Bulls Power Limited - India
- Ministry of Mines - Canada
- Lanco Infratech Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Electricity Authority, New Zealand
- Goldman Sachs - Singapore
- Orica Australia Pty. Ltd.
- SN Aboitiz Power Inc, Philippines
- Mintek Dendrill Indonesia
- Central Java Power - Indonesia
- Baramulti Group, Indonesia
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Eastern Energy - Thailand
- McConnell Dowell - Australia
- VISA Power Limited - India
- Edison Trading Spa - Italy
- Pendopo Energi Batubara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- Standard Chartered Bank - UAE
- Coal and Oil Company - UAE
- Krishnapatnam Port Company Ltd. - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Aditya Birla Group - India
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Rio Tinto Coal - Australia
- Metalloyd Limited - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Interocean Group of Companies - India
- OPG Power Generation Pvt Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Semirara Mining Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Parry Sugars Refinery, India
- Heidelberg Cement - Germany
- Makarim & Taira - Indonesia
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Independent Power Producers Association of India
- Bukit Makmur.PT - Indonesia
- New Zealand Coal & Carbon
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Australian Coal Association
- Star Paper Mills Limited - India
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Anglo American - United Kingdom
- Trasteel International SA, Italy
- Billiton Holdings Pty Ltd - Australia
- Videocon Industries ltd - India
- White Energy Company Limited
- GVK Power & Infra Limited - India
- Formosa Plastics Group - Taiwan
- Altura Mining Limited, Indonesia
- SMC Global Power, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Wood Mackenzie - Singapore
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- Savvy Resources Ltd - HongKong
- Agrawal Coal Company - India
- Maharashtra Electricity Regulatory Commission - India
- Ceylon Electricity Board - Sri Lanka
- Mjunction Services Limited - India
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