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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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Thursday, 19 January 12
SOUTHGOBI RESOURCES SELLS MORE THAN FOUR MILLION TONNES OF COAL IN 2011, 58% MORE THAN 2010
COALspot.com - SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) has successfully complets year 2011 on guidance in terms of coal sales and production.
...
Thursday, 19 January 12
14TH VOGP MEETING IN HO CHI MINH CITY HANDS OUT LATEST UPDATES AND DEVELOPMENTS IN VIETNAM'S ENERGY INDUSTRY
Press Release: At upcoming 14th Vietnam Oil Gas Power on 27-28 Feb in Ho Chi Minh City the industry’s most influential names including Petrovi ...
Thursday, 19 January 12
DELTA DUNIA SEALS US$820 MIO CONTRACT INSIDER STORIES
Insider Stories reported that, PT Delta Dunia Makmur Tbk (DOID) has announced that its primary operating subsidiary, PT Bukit Makmur Mandiri Utama ( ...
Wednesday, 18 January 12
WARM WINTER ACROSS EUROPE HAS IMPACTED NEGATIVELY COAL DEMAND - BRS
With the Chinese New Year just a week away, all markets are slowing down. The drop in freight rates for all sizes has been significant over the past ...
Wednesday, 18 January 12
DRY BULK MARKET'S DRAMA CONTINUES IN START OF NEW WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A flurry of newbuilding deliveries, coupled with a slow start to the new year, a typical trend for the dry bulk market, has led the industry's benc ...
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- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- The Treasury - Australian Government
- Dalmia Cement Bharat India
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- Parry Sugars Refinery, India
- Sojitz Corporation - Japan
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Star Paper Mills Limited - India
- Minerals Council of Australia
- Binh Thuan Hamico - Vietnam
- Singapore Mercantile Exchange
- Australian Commodity Traders Exchange
- Ministry of Mines - Canada
- PTC India Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Siam City Cement - Thailand
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Krishnapatnam Port Company Ltd. - India
- PetroVietnam Power Coal Import and Supply Company
- CNBM International Corporation - China
- Antam Resourcindo - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wood Mackenzie - Singapore
- Thiess Contractors Indonesia
- Global Coal Blending Company Limited - Australia
- Vizag Seaport Private Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Finance - Indonesia
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Parliament of New Zealand
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Bukit Makmur.PT - Indonesia
- Makarim & Taira - Indonesia
- Meralco Power Generation, Philippines
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Petrochimia International Co. Ltd.- Taiwan
- Alfred C Toepfer International GmbH - Germany
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- Indo Tambangraya Megah - Indonesia
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Gujarat Sidhee Cement - India
- Thai Mozambique Logistica
- Timah Investasi Mineral - Indoneisa
- Tata Chemicals Ltd - India
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Australian Coal Association
- Samtan Co., Ltd - South Korea
- Karaikal Port Pvt Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Mjunction Services Limited - India
- Aditya Birla Group - India
- PowerSource Philippines DevCo
- Cement Manufacturers Association - India
- Holcim Trading Pte Ltd - Singapore
- Agrawal Coal Company - India
- Ceylon Electricity Board - Sri Lanka
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Formosa Plastics Group - Taiwan
- ICICI Bank Limited - India
- Indika Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Vedanta Resources Plc - India
- GN Power Mariveles Coal Plant, Philippines
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Tamil Nadu electricity Board
- Semirara Mining Corp, Philippines
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Bhatia International Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Renaissance Capital - South Africa
- Barasentosa Lestari - Indonesia
- Oldendorff Carriers - Singapore
- White Energy Company Limited
- Medco Energi Mining Internasional
- Meenaskhi Energy Private Limited - India
- Larsen & Toubro Limited - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- GMR Energy Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Independent Power Producers Association of India
- Manunggal Multi Energi - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- GVK Power & Infra Limited - India
- Electricity Authority, New Zealand
- Toyota Tsusho Corporation, Japan
- Georgia Ports Authority, United States
- Sindya Power Generating Company Private Ltd
- Kalimantan Lumbung Energi - Indonesia
- Iligan Light & Power Inc, Philippines
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Bharathi Cement Corporation - India
- Kapuas Tunggal Persada - Indonesia
- GAC Shipping (India) Pvt Ltd
- Ministry of Transport, Egypt
- Uttam Galva Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Simpson Spence & Young - Indonesia
- Port Waratah Coal Services - Australia
- Electricity Generating Authority of Thailand
- International Coal Ventures Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Bahari Cakrawala Sebuku - Indonesia
- Indian Oil Corporation Limited
- Leighton Contractors Pty Ltd - Australia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Edison Trading Spa - Italy
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Rashtriya Ispat Nigam Limited - India
- Metalloyd Limited - United Kingdom
- Borneo Indobara - Indonesia
- CIMB Investment Bank - Malaysia
- Eastern Energy - Thailand
- Indogreen Group - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bayan Resources Tbk. - Indonesia
- Wilmar Investment Holdings
- Coal and Oil Company - UAE
- Deloitte Consulting - India
- Kartika Selabumi Mining - Indonesia
- Rio Tinto Coal - Australia
- SMC Global Power, Philippines
- Kohat Cement Company Ltd. - Pakistan
- McConnell Dowell - Australia
- Globalindo Alam Lestari - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining and Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Sarangani Energy Corporation, Philippines
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Heidelberg Cement - Germany
- Aboitiz Power Corporation - Philippines
- Sakthi Sugars Limited - India
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Coastal Gujarat Power Limited - India
- Lanco Infratech Ltd - India
- Madhucon Powers Ltd - India
- Xindia Steels Limited - India
- Indonesian Coal Mining Association
- Kaltim Prima Coal - Indonesia
- Altura Mining Limited, Indonesia
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Planning Commission, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Orica Australia Pty. Ltd.
- Essar Steel Hazira Ltd - India
- Gujarat Electricity Regulatory Commission - India
- San Jose City I Power Corp, Philippines
- Commonwealth Bank - Australia
- Goldman Sachs - Singapore
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- AsiaOL BioFuels Corp., Philippines
- European Bulk Services B.V. - Netherlands
- Billiton Holdings Pty Ltd - Australia
- Karbindo Abesyapradhi - Indoneisa
- Indian Energy Exchange, India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- India Bulls Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Chamber of Mines of South Africa
- Mercator Lines Limited - India
- Therma Luzon, Inc, Philippines
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