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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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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Maharashtra Electricity Regulatory Commission - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Billiton Holdings Pty Ltd - Australia
- Kartika Selabumi Mining - Indonesia
- Wood Mackenzie - Singapore
- Commonwealth Bank - Australia
- Aboitiz Power Corporation - Philippines
- Parliament of New Zealand
- Kaltim Prima Coal - Indonesia
- Singapore Mercantile Exchange
- AsiaOL BioFuels Corp., Philippines
- The University of Queensland
- Interocean Group of Companies - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- Planning Commission, India
- Indogreen Group - Indonesia
- Rio Tinto Coal - Australia
- Iligan Light & Power Inc, Philippines
- Samtan Co., Ltd - South Korea
- Bukit Makmur.PT - Indonesia
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Medco Energi Mining Internasional
- Kapuas Tunggal Persada - Indonesia
- Bangladesh Power Developement Board
- Riau Bara Harum - Indonesia
- OPG Power Generation Pvt Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Ceylon Electricity Board - Sri Lanka
- Sakthi Sugars Limited - India
- Attock Cement Pakistan Limited
- VISA Power Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Price Waterhouse Coopers - Russia
- Bulk Trading Sa - Switzerland
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Coalindo Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Tata Chemicals Ltd - India
- Electricity Authority, New Zealand
- Global Coal Blending Company Limited - Australia
- CNBM International Corporation - China
- Vijayanagar Sugar Pvt Ltd - India
- TeaM Sual Corporation - Philippines
- Economic Council, Georgia
- The Treasury - Australian Government
- Coastal Gujarat Power Limited - India
- London Commodity Brokers - England
- Indonesian Coal Mining Association
- McConnell Dowell - Australia
- Sarangani Energy Corporation, Philippines
- Mercator Lines Limited - India
- Australian Coal Association
- Heidelberg Cement - Germany
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Timah Investasi Mineral - Indoneisa
- SN Aboitiz Power Inc, Philippines
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- Jaiprakash Power Ventures ltd
- Kalimantan Lumbung Energi - Indonesia
- Australian Commodity Traders Exchange
- GAC Shipping (India) Pvt Ltd
- Savvy Resources Ltd - HongKong
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Oldendorff Carriers - Singapore
- Intertek Mineral Services - Indonesia
- Indo Tambangraya Megah - Indonesia
- Carbofer General Trading SA - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- New Zealand Coal & Carbon
- Marubeni Corporation - India
- Orica Mining Services - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Kobexindo Tractors - Indoneisa
- Salva Resources Pvt Ltd - India
- Indika Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Gujarat Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Renaissance Capital - South Africa
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Indian Oil Corporation Limited
- Siam City Cement - Thailand
- Therma Luzon, Inc, Philippines
- International Coal Ventures Pvt Ltd - India
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Sojitz Corporation - Japan
- Wilmar Investment Holdings
- PowerSource Philippines DevCo
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Energy Development Corp, Philippines
- GN Power Mariveles Coal Plant, Philippines
- ASAPP Information Group - India
- White Energy Company Limited
- Simpson Spence & Young - Indonesia
- Meralco Power Generation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- ICICI Bank Limited - India
- Sinarmas Energy and Mining - Indonesia
- Thai Mozambique Logistica
- Trasteel International SA, Italy
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- SMC Global Power, Philippines
- SMG Consultants - Indonesia
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Videocon Industries ltd - India
- Maheswari Brothers Coal Limited - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- European Bulk Services B.V. - Netherlands
- Ministry of Transport, Egypt
- Port Waratah Coal Services - Australia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- South Luzon Thermal Energy Corporation
- Vedanta Resources Plc - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Kepco SPC Power Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Merrill Lynch Commodities Europe
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Formosa Plastics Group - Taiwan
- Coal and Oil Company - UAE
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Coal Council - USA
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- Posco Energy - South Korea
- Sree Jayajothi Cements Limited - India
- Standard Chartered Bank - UAE
- Global Business Power Corporation, Philippines
- Bharathi Cement Corporation - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Dalmia Cement Bharat India
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Antam Resourcindo - Indonesia
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Baramulti Group, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Asmin Koalindo Tuhup - Indonesia
- Semirara Mining Corp, Philippines
- Kumho Petrochemical, South Korea
- Central Java Power - Indonesia
- Altura Mining Limited, Indonesia
- PTC India Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Edison Trading Spa - Italy
- Global Green Power PLC Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- CIMB Investment Bank - Malaysia
- Bhoruka Overseas - Indonesia
- Chettinad Cement Corporation Ltd - India
- Mjunction Services Limited - India
- Mintek Dendrill Indonesia
- Siam City Cement PLC, Thailand
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Bayan Resources Tbk. - Indonesia
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Globalindo Alam Lestari - Indonesia
- Vizag Seaport Private Limited - India
- Xindia Steels Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
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