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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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Sunday, 08 January 12
THARPAK CONSORTIUM FORMED TO DEVELOP MEGA ENERGY COMPLEX IN SINDH PROVINCE, PAKISTAN
Press Release: On January 5th, TharPak, LLC met with officials of the Embassy of Pakistan in Washington DC to introduce and announce the formation o ...
Saturday, 07 January 12
COAL MARKETS SEE FALLING SPOT PRICES
COALspot.com – World’s thermal coal spot prices have slipped this week..
globalCOAL index in Newcastle Port, benchmark for Asian mark ...
Friday, 06 January 12
COAL INDIA LINKED COAL PRICES WITH INTERNATIONAL COAL PRICES
COALspot.com - Consumers of indigenous coal in India to pay International prices in the future. Coal India has recently moved from UHV pricing mecha ...
Friday, 06 January 12
CLARIDEN GLOBAL BRINGS YOU INDONESIA MINING 2012
Capitalizing Business & Investment Opportunities in an Uncertain Market.Press Release - Clariden Global brings you Indonesia Mining 2012, the dedi ...
Friday, 06 January 12
THE PANAMAX MARKET EXPERIENCED A SLOW START TO 2012 - FEARNLEYS AS
Handy
As usual after a holiday owners and charterers both try to get a feel of the market. An Armada of Supras were talking to ballast towards USG, ...
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- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Parry Sugars Refinery, India
- Baramulti Group, Indonesia
- McConnell Dowell - Australia
- Gujarat Mineral Development Corp Ltd - India
- Kobexindo Tractors - Indoneisa
- Kideco Jaya Agung - Indonesia
- Price Waterhouse Coopers - Russia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Aditya Birla Group - India
- Salva Resources Pvt Ltd - India
- Meralco Power Generation, Philippines
- Antam Resourcindo - Indonesia
- Interocean Group of Companies - India
- Oldendorff Carriers - Singapore
- Orica Mining Services - Indonesia
- Videocon Industries ltd - India
- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Billiton Holdings Pty Ltd - Australia
- Makarim & Taira - Indonesia
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Commonwealth Bank - Australia
- Directorate Of Revenue Intelligence - India
- Marubeni Corporation - India
- Carbofer General Trading SA - India
- Ambuja Cements Ltd - India
- Merrill Lynch Commodities Europe
- Bank of Tokyo Mitsubishi UFJ Ltd
- Posco Energy - South Korea
- Australian Commodity Traders Exchange
- Rashtriya Ispat Nigam Limited - India
- Coal and Oil Company - UAE
- Iligan Light & Power Inc, Philippines
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- The University of Queensland
- MS Steel International - UAE
- Simpson Spence & Young - Indonesia
- Toyota Tsusho Corporation, Japan
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- GN Power Mariveles Coal Plant, Philippines
- Mintek Dendrill Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Parliament of New Zealand
- Madhucon Powers Ltd - India
- Bulk Trading Sa - Switzerland
- Vizag Seaport Private Limited - India
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Kaltim Prima Coal - Indonesia
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Jindal Steel & Power Ltd - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Riau Bara Harum - Indonesia
- Globalindo Alam Lestari - Indonesia
- Sinarmas Energy and Mining - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- SMC Global Power, Philippines
- Energy Link Ltd, New Zealand
- Indika Energy - Indonesia
- Bharathi Cement Corporation - India
- Grasim Industreis Ltd - India
- Electricity Authority, New Zealand
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement - Thailand
- Borneo Indobara - Indonesia
- Thiess Contractors Indonesia
- Port Waratah Coal Services - Australia
- White Energy Company Limited
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- Ministry of Finance - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- GVK Power & Infra Limited - India
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Edison Trading Spa - Italy
- Formosa Plastics Group - Taiwan
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Tata Chemicals Ltd - India
- Indogreen Group - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Coalindo Energy - Indonesia
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Sarangani Energy Corporation, Philippines
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Central Java Power - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Dalmia Cement Bharat India
- Manunggal Multi Energi - Indonesia
- Siam City Cement PLC, Thailand
- Indian Oil Corporation Limited
- TeaM Sual Corporation - Philippines
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- Cement Manufacturers Association - India
- Planning Commission, India
- Kumho Petrochemical, South Korea
- Alfred C Toepfer International GmbH - Germany
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Bukit Asam (Persero) Tbk - Indonesia
- VISA Power Limited - India
- Sical Logistics Limited - India
- Holcim Trading Pte Ltd - Singapore
- PNOC Exploration Corporation - Philippines
- Star Paper Mills Limited - India
- Rio Tinto Coal - Australia
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- GMR Energy Limited - India
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Georgia Ports Authority, United States
- Lanco Infratech Ltd - India
- San Jose City I Power Corp, Philippines
- Wilmar Investment Holdings
- Pipit Mutiara Jaya. PT, Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kartika Selabumi Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Electricity Authority - India
- Kohat Cement Company Ltd. - Pakistan
- Petron Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- Sakthi Sugars Limited - India
- CIMB Investment Bank - Malaysia
- Miang Besar Coal Terminal - Indonesia
- Metalloyd Limited - United Kingdom
- Deloitte Consulting - India
- Medco Energi Mining Internasional
- IEA Clean Coal Centre - UK
- Kepco SPC Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Anglo American - United Kingdom
- Bhatia International Limited - India
- Semirara Mining Corp, Philippines
- Minerals Council of Australia
- Indian Energy Exchange, India
- PTC India Limited - India
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- ASAPP Information Group - India
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- SMG Consultants - Indonesia
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Altura Mining Limited, Indonesia
- New Zealand Coal & Carbon
- Sindya Power Generating Company Private Ltd
- Agrawal Coal Company - India
- Sree Jayajothi Cements Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Ministry of Mines - Canada
- AsiaOL BioFuels Corp., Philippines
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Gujarat Sidhee Cement - India
- Energy Development Corp, Philippines
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