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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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Tuesday, 24 January 12
BUKIT ASAM FY11 NET PROFIT SURGES 50% - INSIDER STORIES
Insider Stories reported that, the state-controlled PT Bukit Asam Tbk (PTBA) estimated to book Rp3 trillion (approximately US$ 335,570,469) net prof ...
Sunday, 22 January 12
FREIGHT MARKET DROPPED TO THE LOWEST LEVEL SINCE 2008
COALspot.com - "The markets continued to soften almost reaching 2008 levels breaking the 1,000 point mark", said Capt. Reddy of Vistaar Sh ...
Saturday, 21 January 12
ASIAS PREMIER COMPREHENSIVE OPEN CUT MINING CONFERENCE SCHEDULED FOR FEBRUARY 2012
As the only such conference in the region for miners and service providers, IBC Asia’s Open Cut Mine Planning & Operational Excellence con ...
Saturday, 21 January 12
COAL MARKETS CELEBRATES A DECADE OF BRINGING BUYERS & SELLERS TOGETHER
In 2012, IBC Asia’s premier Coal Markets conference series – Asia’s only globally focused coal import, export and supply chain eve ...
Saturday, 21 January 12
SAMIN TAN COMPLETES BUMI PLC TAKEOVER - INSIDER STORIES
Insider Stories reported that, Indonesian coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN), that is controlled by stellar businessm ...
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- VISA Power Limited - India
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Ministry of Finance - Indonesia
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Gujarat Mineral Development Corp Ltd - India
- Timah Investasi Mineral - Indoneisa
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Formosa Plastics Group - Taiwan
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Larsen & Toubro Limited - India
- PTC India Limited - India
- Bulk Trading Sa - Switzerland
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Rio Tinto Coal - Australia
- Siam City Cement PLC, Thailand
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Posco Energy - South Korea
- Bayan Resources Tbk. - Indonesia
- MS Steel International - UAE
- PetroVietnam Power Coal Import and Supply Company
- Medco Energi Mining Internasional
- Altura Mining Limited, Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Antam Resourcindo - Indonesia
- Price Waterhouse Coopers - Russia
- European Bulk Services B.V. - Netherlands
- Tamil Nadu electricity Board
- Latin American Coal - Colombia
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Mintek Dendrill Indonesia
- Gujarat Sidhee Cement - India
- Kepco SPC Power Corporation, Philippines
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Renaissance Capital - South Africa
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- India Bulls Power Limited - India
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- PowerSource Philippines DevCo
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Kartika Selabumi Mining - Indonesia
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- The State Trading Corporation of India Ltd
- Sojitz Corporation - Japan
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Riau Bara Harum - Indonesia
- Maheswari Brothers Coal Limited - India
- LBH Netherlands Bv - Netherlands
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Thai Mozambique Logistica
- Borneo Indobara - Indonesia
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Madhucon Powers Ltd - India
- Kobexindo Tractors - Indoneisa
- Intertek Mineral Services - Indonesia
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Energy Exchange, India
- Xindia Steels Limited - India
- Parliament of New Zealand
- Bharathi Cement Corporation - India
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Bhatia International Limited - India
- Bangladesh Power Developement Board
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Global Green Power PLC Corporation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Singapore Mercantile Exchange
- Indika Energy - Indonesia
- AsiaOL BioFuels Corp., Philippines
- GAC Shipping (India) Pvt Ltd
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- GVK Power & Infra Limited - India
- Sinarmas Energy and Mining - Indonesia
- Chettinad Cement Corporation Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Romanian Commodities Exchange
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Thiess Contractors Indonesia
- Power Finance Corporation Ltd., India
- Georgia Ports Authority, United States
- Coalindo Energy - Indonesia
- Carbofer General Trading SA - India
- IHS Mccloskey Coal Group - USA
- White Energy Company Limited
- Metalloyd Limited - United Kingdom
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Bhushan Steel Limited - India
- IEA Clean Coal Centre - UK
- Sarangani Energy Corporation, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Samtan Co., Ltd - South Korea
- ICICI Bank Limited - India
- Bukit Makmur.PT - Indonesia
- Banpu Public Company Limited - Thailand
- Commonwealth Bank - Australia
- Neyveli Lignite Corporation Ltd, - India
- Kapuas Tunggal Persada - Indonesia
- Energy Development Corp, Philippines
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Wilmar Investment Holdings
- Semirara Mining Corp, Philippines
- Oldendorff Carriers - Singapore
- SMC Global Power, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- Economic Council, Georgia
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Eastern Energy - Thailand
- Australian Coal Association
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Bahari Cakrawala Sebuku - Indonesia
- Directorate Of Revenue Intelligence - India
- Simpson Spence & Young - Indonesia
- Ministry of Transport, Egypt
- International Coal Ventures Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Agrawal Coal Company - India
- Merrill Lynch Commodities Europe
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- San Jose City I Power Corp, Philippines
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Pendopo Energi Batubara - Indonesia
- Sree Jayajothi Cements Limited - India
- The Treasury - Australian Government
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- Binh Thuan Hamico - Vietnam
- Orica Mining Services - Indonesia
- Edison Trading Spa - Italy
- Manunggal Multi Energi - Indonesia
- Jaiprakash Power Ventures ltd
- Port Waratah Coal Services - Australia
- Anglo American - United Kingdom
- GMR Energy Limited - India
- Mercuria Energy - Indonesia
- Bukit Baiduri Energy - Indonesia
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- CNBM International Corporation - China
- Toyota Tsusho Corporation, Japan
- Electricity Authority, New Zealand
- Rashtriya Ispat Nigam Limited - India
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- Petron Corporation, Philippines
- Meralco Power Generation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Grasim Industreis Ltd - India
- Heidelberg Cement - Germany
- Bhoruka Overseas - Indonesia
- Aboitiz Power Corporation - Philippines
- Electricity Generating Authority of Thailand
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