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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, 16 January 12
BUMA MINED 2.7 MILLION TONS COAL LAST MONTH
COALspot.com - BUMA has mined 2.7 million tons (-14.1% YoY) coal last month and removed 25.8 million bcm (-5.6% YoY) overburden, according to compan ...
Sunday, 15 January 12
THE FREIGHT MARKET CONTINUED TO BLEED - VISTAAR
COALspot.com - "The markets continued to bleed with BDI touching almost 1000 points , almost reaching the collapse of 2008 levels," said C ...
Saturday, 14 January 12
GOLDEN MINES TO SUPPLY 4 MIO TONS - INSIDER STORIES
Insider Stories reported that, Coal miner under Sinarmas Group PT Golden Energy Mines Tbk (GEMS), a subsidiary of PT Dian Swastatika Sentosa Tbk (DS ...
Friday, 13 January 12
DIFFICULT START OF 2012 FOR DRY BULK MARKET SEEN HARD TO CHANGE IN THE COURSE OF THE YEAR, UNLESS DEMOLITION PICKS UP
The dry bulk market has been on a freefall this week after a rocky start to the new year. Yesterday, the BDI (Baltic Dry Index) the industry's benc ...
Thursday, 12 January 12
DRY BULK MARKET CRASHING AT START OF THE YEAR - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept being on freefall mode yesterday, with the industry's benchmark, the BDI (Baltic Dry Index) losing a massive 5.17% on ...
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- Borneo Indobara - Indonesia
- Grasim Industreis Ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Siam City Cement - Thailand
- Price Waterhouse Coopers - Russia
- Bukit Asam (Persero) Tbk - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Interocean Group of Companies - India
- Miang Besar Coal Terminal - Indonesia
- Deloitte Consulting - India
- Kaltim Prima Coal - Indonesia
- Attock Cement Pakistan Limited
- Star Paper Mills Limited - India
- Banpu Public Company Limited - Thailand
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Tata Chemicals Ltd - India
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- Videocon Industries ltd - India
- Antam Resourcindo - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Larsen & Toubro Limited - India
- Sakthi Sugars Limited - India
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Ceylon Electricity Board - Sri Lanka
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Therma Luzon, Inc, Philippines
- GVK Power & Infra Limited - India
- Parry Sugars Refinery, India
- PowerSource Philippines DevCo
- Simpson Spence & Young - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Alfred C Toepfer International GmbH - Germany
- Directorate General of MIneral and Coal - Indonesia
- Energy Development Corp, Philippines
- Eastern Energy - Thailand
- The Treasury - Australian Government
- Samtan Co., Ltd - South Korea
- Barasentosa Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Wilmar Investment Holdings
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Australian Coal Association
- The State Trading Corporation of India Ltd
- Ambuja Cements Ltd - India
- Tamil Nadu electricity Board
- Kumho Petrochemical, South Korea
- Kalimantan Lumbung Energi - Indonesia
- Mintek Dendrill Indonesia
- Minerals Council of Australia
- Aboitiz Power Corporation - Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jaiprakash Power Ventures ltd
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Kapuas Tunggal Persada - Indonesia
- Standard Chartered Bank - UAE
- Neyveli Lignite Corporation Ltd, - India
- Planning Commission, India
- Independent Power Producers Association of India
- VISA Power Limited - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Rashtriya Ispat Nigam Limited - India
- Savvy Resources Ltd - HongKong
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Commonwealth Bank - Australia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Meralco Power Generation, Philippines
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- European Bulk Services B.V. - Netherlands
- PetroVietnam Power Coal Import and Supply Company
- Gujarat Mineral Development Corp Ltd - India
- Coastal Gujarat Power Limited - India
- Merrill Lynch Commodities Europe
- Dalmia Cement Bharat India
- Ind-Barath Power Infra Limited - India
- Toyota Tsusho Corporation, Japan
- Cement Manufacturers Association - India
- Marubeni Corporation - India
- Jorong Barutama Greston.PT - Indonesia
- Posco Energy - South Korea
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- Eastern Coal Council - USA
- Xindia Steels Limited - India
- Power Finance Corporation Ltd., India
- CIMB Investment Bank - Malaysia
- New Zealand Coal & Carbon
- Karaikal Port Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Energy Link Ltd, New Zealand
- Krishnapatnam Port Company Ltd. - India
- Lanco Infratech Ltd - India
- Riau Bara Harum - Indonesia
- Central Java Power - Indonesia
- White Energy Company Limited
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Ministry of Mines - Canada
- TNB Fuel Sdn Bhd - Malaysia
- Thai Mozambique Logistica
- Intertek Mineral Services - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mjunction Services Limited - India
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- McConnell Dowell - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Bulk Trading Sa - Switzerland
- Makarim & Taira - Indonesia
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Medco Energi Mining Internasional
- Metalloyd Limited - United Kingdom
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Anglo American - United Kingdom
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Bhushan Steel Limited - India
- ICICI Bank Limited - India
- Formosa Plastics Group - Taiwan
- Kobexindo Tractors - Indoneisa
- Trasteel International SA, Italy
- Maheswari Brothers Coal Limited - India
- GMR Energy Limited - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- PTC India Limited - India
- Oldendorff Carriers - Singapore
- TeaM Sual Corporation - Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Indo Tambangraya Megah - Indonesia
- Bukit Baiduri Energy - Indonesia
- Georgia Ports Authority, United States
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Indian Oil Corporation Limited
- London Commodity Brokers - England
- Carbofer General Trading SA - India
- International Coal Ventures Pvt Ltd - India
- Asmin Koalindo Tuhup - Indonesia
- Indian Energy Exchange, India
- SMC Global Power, Philippines
- Baramulti Group, Indonesia
- The University of Queensland
- Bangladesh Power Developement Board
- Latin American Coal - Colombia
- Petron Corporation, Philippines
- MS Steel International - UAE
- Port Waratah Coal Services - Australia
- Essar Steel Hazira Ltd - India
- Globalindo Alam Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Sical Logistics Limited - India
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Bharathi Cement Corporation - India
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- Australian Commodity Traders Exchange
- Coal and Oil Company - UAE
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Economic Council, Georgia
- Siam City Cement PLC, Thailand
- Edison Trading Spa - Italy
- CNBM International Corporation - China
- Directorate Of Revenue Intelligence - India
- South Luzon Thermal Energy Corporation
- Parliament of New Zealand
- Altura Mining Limited, Indonesia
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Malabar Cements Ltd - India
- Coalindo Energy - Indonesia
- Ministry of Transport, Egypt
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- SN Aboitiz Power Inc, Philippines
- Global Coal Blending Company Limited - Australia
- Meenaskhi Energy Private Limited - India
- Cigading International Bulk Terminal - Indonesia
- Indonesian Coal Mining Association
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