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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, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- Bank of Tokyo Mitsubishi UFJ Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- Therma Luzon, Inc, Philippines
- Kumho Petrochemical, South Korea
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Global Business Power Corporation, Philippines
- Sindya Power Generating Company Private Ltd
- Bukit Makmur.PT - Indonesia
- Trasteel International SA, Italy
- Star Paper Mills Limited - India
- Makarim & Taira - Indonesia
- Straits Asia Resources Limited - Singapore
- Eastern Coal Council - USA
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Cement Manufacturers Association - India
- Aboitiz Power Corporation - Philippines
- Georgia Ports Authority, United States
- Kartika Selabumi Mining - Indonesia
- Samtan Co., Ltd - South Korea
- Mintek Dendrill Indonesia
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Bhushan Steel Limited - India
- The Treasury - Australian Government
- Simpson Spence & Young - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Mercator Lines Limited - India
- Bhoruka Overseas - Indonesia
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Petron Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Ceylon Electricity Board - Sri Lanka
- Posco Energy - South Korea
- Siam City Cement - Thailand
- AsiaOL BioFuels Corp., Philippines
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- SN Aboitiz Power Inc, Philippines
- Sojitz Corporation - Japan
- Parliament of New Zealand
- Offshore Bulk Terminal Pte Ltd, Singapore
- PowerSource Philippines DevCo
- Gujarat Electricity Regulatory Commission - India
- OPG Power Generation Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Ministry of Mines - Canada
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Singapore Mercantile Exchange
- Kalimantan Lumbung Energi - Indonesia
- Globalindo Alam Lestari - Indonesia
- CIMB Investment Bank - Malaysia
- Sree Jayajothi Cements Limited - India
- Indika Energy - Indonesia
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Indonesian Coal Mining Association
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Vedanta Resources Plc - India
- London Commodity Brokers - England
- Tata Chemicals Ltd - India
- Jaiprakash Power Ventures ltd
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Interocean Group of Companies - India
- Indian Oil Corporation Limited
- Mjunction Services Limited - India
- Chamber of Mines of South Africa
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- LBH Netherlands Bv - Netherlands
- Kobexindo Tractors - Indoneisa
- Madhucon Powers Ltd - India
- Attock Cement Pakistan Limited
- PNOC Exploration Corporation - Philippines
- India Bulls Power Limited - India
- Mercuria Energy - Indonesia
- Energy Development Corp, Philippines
- TeaM Sual Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Malabar Cements Ltd - India
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Edison Trading Spa - Italy
- Power Finance Corporation Ltd., India
- GVK Power & Infra Limited - India
- ICICI Bank Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- The University of Queensland
- Thiess Contractors Indonesia
- Kaltim Prima Coal - Indonesia
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Rio Tinto Coal - Australia
- Carbofer General Trading SA - India
- Coalindo Energy - Indonesia
- Alfred C Toepfer International GmbH - Germany
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Orica Australia Pty. Ltd.
- Videocon Industries ltd - India
- Bhatia International Limited - India
- Planning Commission, India
- Commonwealth Bank - Australia
- Gujarat Sidhee Cement - India
- Larsen & Toubro Limited - India
- Semirara Mining Corp, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Oldendorff Carriers - Singapore
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- IEA Clean Coal Centre - UK
- Neyveli Lignite Corporation Ltd, - India
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Antam Resourcindo - Indonesia
- Maheswari Brothers Coal Limited - India
- Jindal Steel & Power Ltd - India
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- Formosa Plastics Group - Taiwan
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wilmar Investment Holdings
- Vizag Seaport Private Limited - India
- Essar Steel Hazira Ltd - India
- Minerals Council of Australia
- Ministry of Transport, Egypt
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- The State Trading Corporation of India Ltd
- Gujarat Mineral Development Corp Ltd - India
- White Energy Company Limited
- Kepco SPC Power Corporation, Philippines
- ASAPP Information Group - India
- Price Waterhouse Coopers - Russia
- Bangladesh Power Developement Board
- CNBM International Corporation - China
- IHS Mccloskey Coal Group - USA
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Orica Mining Services - Indonesia
- Savvy Resources Ltd - HongKong
- Kideco Jaya Agung - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Sarangani Energy Corporation, Philippines
- Altura Mining Limited, Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Independent Power Producers Association of India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Indo Tambangraya Megah - Indonesia
- Billiton Holdings Pty Ltd - Australia
- VISA Power Limited - India
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Parry Sugars Refinery, India
- Bharathi Cement Corporation - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Eastern Energy - Thailand
- Sakthi Sugars Limited - India
- Australian Coal Association
- International Coal Ventures Pvt Ltd - India
- PTC India Limited - India
- SMC Global Power, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Indian Energy Exchange, India
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Central Electricity Authority - India
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