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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, 08 December 11
HAREDA KRIDA GETS CONTRACT FROM BAYAN - INSIDER STORIES
Insider Stories reported that, coal miner PT Bayan Resources Tbk (BYAN), through its subsidiary dubbed PT Gunungbayan Pratamacoal (GPB), has signed ...
Thursday, 08 December 11
CAPESIZES LIFT DRY BULK MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize vessels yesterday helped lift the dry bulk market which had been falling since the start of the week on lower cargo demand. As a result the ...
Wednesday, 07 December 11
ABM INVESTAMA EYES RP6.3 TRIO REVENUE - INSIDER STORIES
Insider Stories reported that, an energy integrated company PT ABM Investama Tbk is eyeing a 1.5 folds increase in revenue this year from Rp4. ...
Tuesday, 06 December 11
DRY BULK MARKET ENDS RALLY, STARTS WEEK WITH FALL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
After a series of increases which saw the dry bulk market’s benchmark, the Baltic Dry Index (BDI) increasing close to 1,900 points and rates o ...
Monday, 05 December 11
THE DECEMBER HBA FELL 11% FROM ITS PEAK AT US$127.05 PER TON IN FEBRUARY 2011
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has sets the December 2011 coal reference price at US$ 112.67 per ton US$ 3.98 ...
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- Banpu Public Company Limited - Thailand
- Kumho Petrochemical, South Korea
- Australian Commodity Traders Exchange
- Mercuria Energy - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Intertek Mineral Services - Indonesia
- Bangladesh Power Developement Board
- European Bulk Services B.V. - Netherlands
- Riau Bara Harum - Indonesia
- Power Finance Corporation Ltd., India
- VISA Power Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Port Waratah Coal Services - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- India Bulls Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Sidhee Cement - India
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Thai Mozambique Logistica
- Kohat Cement Company Ltd. - Pakistan
- Parliament of New Zealand
- Bhushan Steel Limited - India
- Electricity Generating Authority of Thailand
- Global Green Power PLC Corporation, Philippines
- Maheswari Brothers Coal Limited - India
- Africa Commodities Group - South Africa
- Georgia Ports Authority, United States
- Toyota Tsusho Corporation, Japan
- Alfred C Toepfer International GmbH - Germany
- The University of Queensland
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Mjunction Services Limited - India
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Renaissance Capital - South Africa
- South Luzon Thermal Energy Corporation
- Sakthi Sugars Limited - India
- Global Business Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Australian Coal Association
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- CIMB Investment Bank - Malaysia
- Global Coal Blending Company Limited - Australia
- Xindia Steels Limited - India
- Economic Council, Georgia
- Coalindo Energy - Indonesia
- Savvy Resources Ltd - HongKong
- Indika Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- New Zealand Coal & Carbon
- Interocean Group of Companies - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Antam Resourcindo - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Marubeni Corporation - India
- SN Aboitiz Power Inc, Philippines
- Romanian Commodities Exchange
- Indian Oil Corporation Limited
- Commonwealth Bank - Australia
- Deloitte Consulting - India
- Carbofer General Trading SA - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Eastern Energy - Thailand
- Formosa Plastics Group - Taiwan
- Salva Resources Pvt Ltd - India
- Mercator Lines Limited - India
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Bukit Makmur.PT - Indonesia
- Ministry of Finance - Indonesia
- San Jose City I Power Corp, Philippines
- Sojitz Corporation - Japan
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Tata Chemicals Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Oldendorff Carriers - Singapore
- Cigading International Bulk Terminal - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Chamber of Mines of South Africa
- Energy Link Ltd, New Zealand
- Sical Logistics Limited - India
- The State Trading Corporation of India Ltd
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Tamil Nadu electricity Board
- Manunggal Multi Energi - Indonesia
- PTC India Limited - India
- GAC Shipping (India) Pvt Ltd
- AsiaOL BioFuels Corp., Philippines
- Central Java Power - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- ICICI Bank Limited - India
- Vedanta Resources Plc - India
- Independent Power Producers Association of India
- Ceylon Electricity Board - Sri Lanka
- Bank of Tokyo Mitsubishi UFJ Ltd
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- Price Waterhouse Coopers - Russia
- Ambuja Cements Ltd - India
- Timah Investasi Mineral - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Asia Pacific Energy Resources Ventures Inc, Philippines
- MS Steel International - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Metalloyd Limited - United Kingdom
- Ministry of Mines - Canada
- Simpson Spence & Young - Indonesia
- Indogreen Group - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- Thiess Contractors Indonesia
- LBH Netherlands Bv - Netherlands
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- TeaM Sual Corporation - Philippines
- Parry Sugars Refinery, India
- Maharashtra Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- International Coal Ventures Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Pendopo Energi Batubara - Indonesia
- Eastern Coal Council - USA
- Mintek Dendrill Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Central Electricity Authority - India
- CNBM International Corporation - China
- Sarangani Energy Corporation, Philippines
- Singapore Mercantile Exchange
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Larsen & Toubro Limited - India
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Wilmar Investment Holdings
- Petron Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Grasim Industreis Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Binh Thuan Hamico - Vietnam
- Posco Energy - South Korea
- McConnell Dowell - Australia
- PowerSource Philippines DevCo
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- SMC Global Power, Philippines
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- Trasteel International SA, Italy
- Ministry of Transport, Egypt
- Gujarat Mineral Development Corp Ltd - India
- Planning Commission, India
- Electricity Authority, New Zealand
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- Vizag Seaport Private Limited - India
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- Globalindo Alam Lestari - Indonesia
- Merrill Lynch Commodities Europe
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Heidelberg Cement - Germany
- Energy Development Corp, Philippines
- PNOC Exploration Corporation - Philippines
- IEA Clean Coal Centre - UK
- Minerals Council of Australia
- Medco Energi Mining Internasional
- Bukit Baiduri Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
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