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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, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- Bangladesh Power Developement Board
- CNBM International Corporation - China
- White Energy Company Limited
- VISA Power Limited - India
- Thai Mozambique Logistica
- Ministry of Mines - Canada
- Bukit Makmur.PT - Indonesia
- India Bulls Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Indian Oil Corporation Limited
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Mintek Dendrill Indonesia
- Jaiprakash Power Ventures ltd
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kumho Petrochemical, South Korea
- Miang Besar Coal Terminal - Indonesia
- Makarim & Taira - Indonesia
- Intertek Mineral Services - Indonesia
- Savvy Resources Ltd - HongKong
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- Ind-Barath Power Infra Limited - India
- Indogreen Group - Indonesia
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Sindya Power Generating Company Private Ltd
- Cement Manufacturers Association - India
- Coastal Gujarat Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Lanco Infratech Ltd - India
- Australian Commodity Traders Exchange
- Binh Thuan Hamico - Vietnam
- Alfred C Toepfer International GmbH - Germany
- OPG Power Generation Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Videocon Industries ltd - India
- Standard Chartered Bank - UAE
- Therma Luzon, Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- The University of Queensland
- Maheswari Brothers Coal Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Petron Corporation, Philippines
- Central Electricity Authority - India
- London Commodity Brokers - England
- PowerSource Philippines DevCo
- Asmin Koalindo Tuhup - Indonesia
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- Sinarmas Energy and Mining - Indonesia
- Planning Commission, India
- Gujarat Sidhee Cement - India
- Independent Power Producers Association of India
- Minerals Council of Australia
- Leighton Contractors Pty Ltd - Australia
- Renaissance Capital - South Africa
- Toyota Tsusho Corporation, Japan
- Billiton Holdings Pty Ltd - Australia
- Vedanta Resources Plc - India
- Port Waratah Coal Services - Australia
- Merrill Lynch Commodities Europe
- Deloitte Consulting - India
- Bukit Asam (Persero) Tbk - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Semirara Mining Corp, Philippines
- Trasteel International SA, Italy
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Sree Jayajothi Cements Limited - India
- Central Java Power - Indonesia
- Chamber of Mines of South Africa
- Agrawal Coal Company - India
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Rashtriya Ispat Nigam Limited - India
- Power Finance Corporation Ltd., India
- Antam Resourcindo - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Globalindo Alam Lestari - Indonesia
- Ministry of Finance - Indonesia
- Romanian Commodities Exchange
- Vijayanagar Sugar Pvt Ltd - India
- McConnell Dowell - Australia
- Grasim Industreis Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- Kepco SPC Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Coalindo Energy - Indonesia
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Kohat Cement Company Ltd. - Pakistan
- Indo Tambangraya Megah - Indonesia
- Coal and Oil Company - UAE
- Altura Mining Limited, Indonesia
- Edison Trading Spa - Italy
- Mercator Lines Limited - India
- Aditya Birla Group - India
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- IHS Mccloskey Coal Group - USA
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Marubeni Corporation - India
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Pendopo Energi Batubara - Indonesia
- Mercuria Energy - Indonesia
- Straits Asia Resources Limited - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- ASAPP Information Group - India
- Attock Cement Pakistan Limited
- Jindal Steel & Power Ltd - India
- Bukit Baiduri Energy - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- MS Steel International - UAE
- GAC Shipping (India) Pvt Ltd
- Global Coal Blending Company Limited - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- CIMB Investment Bank - Malaysia
- Sical Logistics Limited - India
- Salva Resources Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Dalmia Cement Bharat India
- The Treasury - Australian Government
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Commonwealth Bank - Australia
- Kobexindo Tractors - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Siam City Cement PLC, Thailand
- Simpson Spence & Young - Indonesia
- Kaltim Prima Coal - Indonesia
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Latin American Coal - Colombia
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Global Business Power Corporation, Philippines
- Gujarat Electricity Regulatory Commission - India
- Essar Steel Hazira Ltd - India
- Anglo American - United Kingdom
- ICICI Bank Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Bhushan Steel Limited - India
- Rio Tinto Coal - Australia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Malabar Cements Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Iligan Light & Power Inc, Philippines
- The State Trading Corporation of India Ltd
- Bayan Resources Tbk. - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- TeaM Sual Corporation - Philippines
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Meralco Power Generation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Posco Energy - South Korea
- Indonesian Coal Mining Association
- European Bulk Services B.V. - Netherlands
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Australian Coal Association
- Chettinad Cement Corporation Ltd - India
- International Coal Ventures Pvt Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Price Waterhouse Coopers - Russia
- Singapore Mercantile Exchange
- Parliament of New Zealand
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Ministry of Transport, Egypt
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Bhatia International Limited - India
- Kapuas Tunggal Persada - Indonesia
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- Krishnapatnam Port Company Ltd. - India
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