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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, 02 January 12
THE PROMISE OF INDIA: A BRIEF INTERRUPTION? - CLARKSONS / HELLENIC SHIPPING
Future growth in Indian seaborne coal imports has sometimes been considered as one of the largest potential upsides in the currently oversupplied dr ...
Sunday, 01 January 12
IS INDIA FOLLOWING INDONESIA TO STANDARDIZE COAL PRICES TO GET MAXIMUM BENEFITS?
COALspot.com - Coal India limited, an Indian state owned and world largest coal producer has introduced gross calorific value (GCV) based pricing me ...
Saturday, 31 December 11
GLOBALCOAL NEWC INDEX SURGED 2.32 PERCENT
COALspot.com - globalCOAL index in Newcastle Port, benchmark for Asian market, ended substantially higher, surged 2.32 percent to US$115.47 per ...
Saturday, 31 December 11
BORNEO LUMBUNG TO BUY BUMI STAKE, SWAP CEO - THE JAKARTA GLOBE
The Jakarta Globe, one of the leading english news paper in Indonesia reported yesterday, shareholders of Indonesian coking coal miner Borneo Lumbun ...
Friday, 30 December 11
CENTRAL GOVERNMENT SHOULD ISSUE PERMITS - THE JAKARTA POST
The Jakarta Post reported that, business associations from both the palm oil and mining sectors have suggested that the central government should re ...
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- The University of Queensland
- IEA Clean Coal Centre - UK
- Semirara Mining and Power Corporation, Philippines
- CNBM International Corporation - China
- Ministry of Transport, Egypt
- Semirara Mining Corp, Philippines
- Malabar Cements Ltd - India
- Trasteel International SA, Italy
- Barasentosa Lestari - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Energy Development Corp, Philippines
- Merrill Lynch Commodities Europe
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Gujarat Electricity Regulatory Commission - India
- Eastern Coal Council - USA
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Electricity Authority, New Zealand
- Romanian Commodities Exchange
- Gujarat Mineral Development Corp Ltd - India
- Tata Chemicals Ltd - India
- Uttam Galva Steels Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jaiprakash Power Ventures ltd
- SMC Global Power, Philippines
- Salva Resources Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Intertek Mineral Services - Indonesia
- PTC India Limited - India
- Directorate Of Revenue Intelligence - India
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Renaissance Capital - South Africa
- Meenaskhi Energy Private Limited - India
- Therma Luzon, Inc, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dalmia Cement Bharat India
- Indian Oil Corporation Limited
- Parliament of New Zealand
- ICICI Bank Limited - India
- Aditya Birla Group - India
- Aboitiz Power Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Economic Council, Georgia
- Marubeni Corporation - India
- Sakthi Sugars Limited - India
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Orica Mining Services - Indonesia
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Chettinad Cement Corporation Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Madhucon Powers Ltd - India
- Lanco Infratech Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Green Power PLC Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Interocean Group of Companies - India
- Planning Commission, India
- Thai Mozambique Logistica
- CIMB Investment Bank - Malaysia
- Straits Asia Resources Limited - Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Sindya Power Generating Company Private Ltd
- Toyota Tsusho Corporation, Japan
- Globalindo Alam Lestari - Indonesia
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Simpson Spence & Young - Indonesia
- Ministry of Finance - Indonesia
- Mjunction Services Limited - India
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Oldendorff Carriers - Singapore
- Larsen & Toubro Limited - India
- Riau Bara Harum - Indonesia
- Medco Energi Mining Internasional
- Antam Resourcindo - Indonesia
- New Zealand Coal & Carbon
- Rio Tinto Coal - Australia
- Bayan Resources Tbk. - Indonesia
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Minerals Council of Australia
- GVK Power & Infra Limited - India
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- Australian Commodity Traders Exchange
- Neyveli Lignite Corporation Ltd, - India
- Coal and Oil Company - UAE
- Borneo Indobara - Indonesia
- Mercator Lines Limited - India
- Wilmar Investment Holdings
- Posco Energy - South Korea
- Meralco Power Generation, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Bharathi Cement Corporation - India
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Power Finance Corporation Ltd., India
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Georgia Ports Authority, United States
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Krishnapatnam Port Company Ltd. - India
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Kumho Petrochemical, South Korea
- Anglo American - United Kingdom
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Vedanta Resources Plc - India
- Kohat Cement Company Ltd. - Pakistan
- Metalloyd Limited - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Sical Logistics Limited - India
- Central Java Power - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wood Mackenzie - Singapore
- Indika Energy - Indonesia
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- Cigading International Bulk Terminal - Indonesia
- Bhushan Steel Limited - India
- London Commodity Brokers - England
- Singapore Mercantile Exchange
- Savvy Resources Ltd - HongKong
- Parry Sugars Refinery, India
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Bhoruka Overseas - Indonesia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Global Business Power Corporation, Philippines
- Bangladesh Power Developement Board
- Sree Jayajothi Cements Limited - India
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Australian Coal Association
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Jindal Steel & Power Ltd - India
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- GN Power Mariveles Coal Plant, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Commonwealth Bank - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Eastern Energy - Thailand
- Petron Corporation, Philippines
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Ministry of Mines - Canada
- Vizag Seaport Private Limited - India
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- European Bulk Services B.V. - Netherlands
- Kapuas Tunggal Persada - Indonesia
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Gujarat Sidhee Cement - India
- Indian Energy Exchange, India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Deloitte Consulting - India
- MS Steel International - UAE
- The State Trading Corporation of India Ltd
- VISA Power Limited - India
- Xindia Steels Limited - India
- Indogreen Group - Indonesia
- Formosa Plastics Group - Taiwan
- Ind-Barath Power Infra Limited - India
- PetroVietnam Power Coal Import and Supply Company
- AsiaOL BioFuels Corp., Philippines
- Leighton Contractors Pty Ltd - Australia
- Pendopo Energi Batubara - Indonesia
- Bulk Trading Sa - Switzerland
- Coalindo Energy - Indonesia
- Siam City Cement PLC, Thailand
- Attock Cement Pakistan Limited
- Banpu Public Company Limited - Thailand
- Baramulti Group, Indonesia
- Coastal Gujarat Power Limited - India
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- South Luzon Thermal Energy Corporation
- Holcim Trading Pte Ltd - Singapore
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
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