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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, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- PowerSource Philippines DevCo
- Indonesian Coal Mining Association
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- Standard Chartered Bank - UAE
- Kumho Petrochemical, South Korea
- Pipit Mutiara Jaya. PT, Indonesia
- SMC Global Power, Philippines
- Gujarat Sidhee Cement - India
- Oldendorff Carriers - Singapore
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Bukit Baiduri Energy - Indonesia
- Dalmia Cement Bharat India
- Chamber of Mines of South Africa
- Georgia Ports Authority, United States
- Global Coal Blending Company Limited - Australia
- White Energy Company Limited
- Orica Mining Services - Indonesia
- The Treasury - Australian Government
- Xindia Steels Limited - India
- Eastern Coal Council - USA
- Price Waterhouse Coopers - Russia
- Sindya Power Generating Company Private Ltd
- Mintek Dendrill Indonesia
- Baramulti Group, Indonesia
- Gujarat Electricity Regulatory Commission - India
- PNOC Exploration Corporation - Philippines
- Timah Investasi Mineral - Indoneisa
- Orica Australia Pty. Ltd.
- Kalimantan Lumbung Energi - Indonesia
- Mercuria Energy - Indonesia
- London Commodity Brokers - England
- VISA Power Limited - India
- Maheswari Brothers Coal Limited - India
- Intertek Mineral Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Africa Commodities Group - South Africa
- Lanco Infratech Ltd - India
- Coalindo Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Deloitte Consulting - India
- CIMB Investment Bank - Malaysia
- Heidelberg Cement - Germany
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Planning Commission, India
- Goldman Sachs - Singapore
- Ministry of Mines - Canada
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Antam Resourcindo - Indonesia
- SN Aboitiz Power Inc, Philippines
- Independent Power Producers Association of India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Thiess Contractors Indonesia
- McConnell Dowell - Australia
- Uttam Galva Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- Petrochimia International Co. Ltd.- Taiwan
- Kapuas Tunggal Persada - Indonesia
- Iligan Light & Power Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Ambuja Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- ICICI Bank Limited - India
- Wilmar Investment Holdings
- Ministry of Finance - Indonesia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- IHS Mccloskey Coal Group - USA
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- ASAPP Information Group - India
- The State Trading Corporation of India Ltd
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- The University of Queensland
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Generating Authority of Thailand
- IEA Clean Coal Centre - UK
- Maharashtra Electricity Regulatory Commission - India
- New Zealand Coal & Carbon
- Edison Trading Spa - Italy
- GVK Power & Infra Limited - India
- OPG Power Generation Pvt Ltd - India
- Vizag Seaport Private Limited - India
- Larsen & Toubro Limited - India
- Metalloyd Limited - United Kingdom
- Samtan Co., Ltd - South Korea
- Billiton Holdings Pty Ltd - Australia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement - Thailand
- Leighton Contractors Pty Ltd - Australia
- Indogreen Group - Indonesia
- Bhatia International Limited - India
- Indika Energy - Indonesia
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Pendopo Energi Batubara - Indonesia
- Simpson Spence & Young - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Miang Besar Coal Terminal - Indonesia
- Borneo Indobara - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Global Business Power Corporation, Philippines
- Romanian Commodities Exchange
- Australian Coal Association
- Bhoruka Overseas - Indonesia
- Jaiprakash Power Ventures ltd
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Medco Energi Mining Internasional
- Kartika Selabumi Mining - Indonesia
- Economic Council, Georgia
- Grasim Industreis Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Formosa Plastics Group - Taiwan
- Australian Commodity Traders Exchange
- Tamil Nadu electricity Board
- CNBM International Corporation - China
- Anglo American - United Kingdom
- Essar Steel Hazira Ltd - India
- Kideco Jaya Agung - Indonesia
- Toyota Tsusho Corporation, Japan
- Coal and Oil Company - UAE
- Jindal Steel & Power Ltd - India
- Coastal Gujarat Power Limited - India
- Savvy Resources Ltd - HongKong
- Singapore Mercantile Exchange
- Directorate General of MIneral and Coal - Indonesia
- Power Finance Corporation Ltd., India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Port Waratah Coal Services - Australia
- Malabar Cements Ltd - India
- Mjunction Services Limited - India
- Sojitz Corporation - Japan
- Aditya Birla Group - India
- Kohat Cement Company Ltd. - Pakistan
- Parry Sugars Refinery, India
- Kaltim Prima Coal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- Straits Asia Resources Limited - Singapore
- Renaissance Capital - South Africa
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Barasentosa Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Mercator Lines Limited - India
- Indian Energy Exchange, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Makarim & Taira - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Ind-Barath Power Infra Limited - India
- Attock Cement Pakistan Limited
- Krishnapatnam Port Company Ltd. - India
- Banpu Public Company Limited - Thailand
- Sree Jayajothi Cements Limited - India
- Meralco Power Generation, Philippines
- San Jose City I Power Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Chettinad Cement Corporation Ltd - India
- Central Java Power - Indonesia
- Madhucon Powers Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Vedanta Resources Plc - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- TNB Fuel Sdn Bhd - Malaysia
- Petron Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- Eastern Energy - Thailand
- Star Paper Mills Limited - India
- Globalindo Alam Lestari - Indonesia
- Semirara Mining and Power Corporation, Philippines
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