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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, 28 November 11
CITING CONTRACTS, MINING FIRMS ARE NOT PAYING ROYALTIES UNDER LAW - THE JAKARTA POST
The Jakarta Post reported that, when the 2009 Law on Minerals and Coal was endorsed, hopes that Indonesia could maximize its revenue from the minera ...
Monday, 28 November 11
NEW ENVIRONMENTAL MARINE REGULATIONS TO IMPACT SHIPPING IN 2012 - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
August of next year will see some major changes for marine navigation. It’s when the North American ECA will come into force, introducing a 1% ...
Sunday, 27 November 11
INDIA'S KPCL TO IMPORT 50 MMT OF COAL FOR 10 YEARS
COALspot.com - Karnataka Power Corporation Limited (KPCL) will buy 5 million metric tonnes of coal annually for 10 years starting from 2015.
In a ...
Saturday, 26 November 11
INDIAN PORTS ARE BECOME COAL STOCKPILES..!!
COALspot.com - The Indian coal stocks and power tariff situation is the hot topic among the world coal producers as well as Indian coal importers.&n ...
Saturday, 26 November 11
THE FREIGHT MARKETS EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The market were down probably with the sentiments of global financial markets and all segments were down.
The BDI was up down by 4 ...
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- PNOC Exploration Corporation - Philippines
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- McConnell Dowell - Australia
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- San Jose City I Power Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Energy Development Corp, Philippines
- Intertek Mineral Services - Indonesia
- Larsen & Toubro Limited - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- LBH Netherlands Bv - Netherlands
- Simpson Spence & Young - Indonesia
- Petron Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Aboitiz Power Corporation - Philippines
- Kepco SPC Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Global Business Power Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- Binh Thuan Hamico - Vietnam
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Mercuria Energy - Indonesia
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Grasim Industreis Ltd - India
- Indo Tambangraya Megah - Indonesia
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Bukit Baiduri Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Banpu Public Company Limited - Thailand
- Gujarat Sidhee Cement - India
- Miang Besar Coal Terminal - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Indika Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Georgia Ports Authority, United States
- Timah Investasi Mineral - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- Kaltim Prima Coal - Indonesia
- MS Steel International - UAE
- Bukit Asam (Persero) Tbk - Indonesia
- Ambuja Cements Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Mintek Dendrill Indonesia
- Latin American Coal - Colombia
- Maharashtra Electricity Regulatory Commission - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Semirara Mining and Power Corporation, Philippines
- Interocean Group of Companies - India
- Planning Commission, India
- VISA Power Limited - India
- Marubeni Corporation - India
- Billiton Holdings Pty Ltd - Australia
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Coalindo Energy - Indonesia
- Singapore Mercantile Exchange
- Metalloyd Limited - United Kingdom
- TNB Fuel Sdn Bhd - Malaysia
- Standard Chartered Bank - UAE
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Heidelberg Cement - Germany
- Alfred C Toepfer International GmbH - Germany
- Eastern Coal Council - USA
- India Bulls Power Limited - India
- Xindia Steels Limited - India
- Anglo American - United Kingdom
- Port Waratah Coal Services - Australia
- Pendopo Energi Batubara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Borneo Indobara - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Jindal Steel & Power Ltd - India
- Economic Council, Georgia
- ASAPP Information Group - India
- Pipit Mutiara Jaya. PT, Indonesia
- Kumho Petrochemical, South Korea
- Edison Trading Spa - Italy
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Siam City Cement - Thailand
- Toyota Tsusho Corporation, Japan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- International Coal Ventures Pvt Ltd - India
- Ministry of Mines - Canada
- The State Trading Corporation of India Ltd
- Straits Asia Resources Limited - Singapore
- Iligan Light & Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Agrawal Coal Company - India
- Meralco Power Generation, Philippines
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Directorate General of MIneral and Coal - Indonesia
- Sree Jayajothi Cements Limited - India
- Indogreen Group - Indonesia
- Thai Mozambique Logistica
- Tamil Nadu electricity Board
- Bharathi Cement Corporation - India
- Kideco Jaya Agung - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Riau Bara Harum - Indonesia
- Rio Tinto Coal - Australia
- Australian Coal Association
- Videocon Industries ltd - India
- PTC India Limited - India
- Indonesian Coal Mining Association
- The Treasury - Australian Government
- Chamber of Mines of South Africa
- IHS Mccloskey Coal Group - USA
- Dalmia Cement Bharat India
- Electricity Generating Authority of Thailand
- Sinarmas Energy and Mining - Indonesia
- Madhucon Powers Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- Bhoruka Overseas - Indonesia
- Attock Cement Pakistan Limited
- GAC Shipping (India) Pvt Ltd
- Parry Sugars Refinery, India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sical Logistics Limited - India
- Global Green Power PLC Corporation, Philippines
- Altura Mining Limited, Indonesia
- Globalindo Alam Lestari - Indonesia
- Indian Energy Exchange, India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Formosa Plastics Group - Taiwan
- London Commodity Brokers - England
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Coal and Oil Company - UAE
- IEA Clean Coal Centre - UK
- Rashtriya Ispat Nigam Limited - India
- GMR Energy Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Vedanta Resources Plc - India
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Parliament of New Zealand
- OPG Power Generation Pvt Ltd - India
- New Zealand Coal & Carbon
- Coastal Gujarat Power Limited - India
- Vizag Seaport Private Limited - India
- Salva Resources Pvt Ltd - India
- Posco Energy - South Korea
- Kobexindo Tractors - Indoneisa
- Baramulti Group, Indonesia
- Power Finance Corporation Ltd., India
- Essar Steel Hazira Ltd - India
- Orica Australia Pty. Ltd.
- Indian Oil Corporation Limited
- Kapuas Tunggal Persada - Indonesia
- Global Coal Blending Company Limited - Australia
- Holcim Trading Pte Ltd - Singapore
- Mercator Lines Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Thiess Contractors Indonesia
- Savvy Resources Ltd - HongKong
- Merrill Lynch Commodities Europe
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Malabar Cements Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Central Electricity Authority - India
- Samtan Co., Ltd - South Korea
- Central Java Power - Indonesia
- Therma Luzon, Inc, Philippines
- Cement Manufacturers Association - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Bhushan Steel Limited - India
- Wood Mackenzie - Singapore
- Barasentosa Lestari - Indonesia
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Jaiprakash Power Ventures ltd
- Aditya Birla Group - India
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