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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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Friday, 25 November 11
DISPUTE BETWEEN GIANT MINING FIRMS ENDS IN LAHAT - THE JAKARTA POST
The Jakarta Post reported that, prolonged dispute taking place in the South Sumatra regency of Lahat and involving two giant mining companies PT Buk ...
Friday, 25 November 11
DRY BULK MARKET LOSING STEAM, FAST - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
It’s been a week of falls for the dry bulk market this one, leaving ship owners with a sour taste in their mouths, as evidence of a recovery i ...
Thursday, 24 November 11
INDONESIA/INDIA SPMX TC AROUND $ 7/8K AND AROUND $ 12/13.00 PMTS ON VOYAGE BASIS - FEARNLEYS
Handy
Last week ended on a positive note in the Atlantic however the activity levels are somewhat reduced. Owners are asking in excess of USD ...
Thursday, 24 November 11
DRY BULK MARKET KEEPS LOSING STEAM - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was lower once again on Wednesday, with the industry’s benchmark, the Baltic Dry Index (BDI) ending the session down by 1. ...
Tuesday, 22 November 11
NTPC TO BUY 2 MMT OF IMPORTED COAL FOR ITS FOUR PLANTS
COALspot.com - NTPC Limited, incorporated in 1975 as a public sector company wholly owned by Government of India, the largest thermal power generati ...
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- Indonesian Coal Mining Association
- Marubeni Corporation - India
- Cigading International Bulk Terminal - Indonesia
- Indo Tambangraya Megah - Indonesia
- Global Coal Blending Company Limited - Australia
- Port Waratah Coal Services - Australia
- Petron Corporation, Philippines
- Global Business Power Corporation, Philippines
- Chamber of Mines of South Africa
- Malabar Cements Ltd - India
- Kartika Selabumi Mining - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Sakthi Sugars Limited - India
- Uttam Galva Steels Limited - India
- Renaissance Capital - South Africa
- Heidelberg Cement - Germany
- London Commodity Brokers - England
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- IHS Mccloskey Coal Group - USA
- CIMB Investment Bank - Malaysia
- Independent Power Producers Association of India
- Indian Oil Corporation Limited
- Attock Cement Pakistan Limited
- Kideco Jaya Agung - Indonesia
- Dalmia Cement Bharat India
- Planning Commission, India
- Sojitz Corporation - Japan
- Global Green Power PLC Corporation, Philippines
- Minerals Council of Australia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Eastern Coal Council - USA
- Aditya Birla Group - India
- Sical Logistics Limited - India
- Georgia Ports Authority, United States
- Vijayanagar Sugar Pvt Ltd - India
- Vedanta Resources Plc - India
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Banpu Public Company Limited - Thailand
- The Treasury - Australian Government
- White Energy Company Limited
- Parry Sugars Refinery, India
- Indika Energy - Indonesia
- Merrill Lynch Commodities Europe
- IEA Clean Coal Centre - UK
- Romanian Commodities Exchange
- Madhucon Powers Ltd - India
- Gujarat Sidhee Cement - India
- Sinarmas Energy and Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Samtan Co., Ltd - South Korea
- Bangladesh Power Developement Board
- Intertek Mineral Services - Indonesia
- Barasentosa Lestari - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Riau Bara Harum - Indonesia
- Thiess Contractors Indonesia
- Oldendorff Carriers - Singapore
- Sarangani Energy Corporation, Philippines
- Salva Resources Pvt Ltd - India
- Mjunction Services Limited - India
- Straits Asia Resources Limited - Singapore
- Sree Jayajothi Cements Limited - India
- Miang Besar Coal Terminal - Indonesia
- Altura Mining Limited, Indonesia
- VISA Power Limited - India
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Siam City Cement - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Karaikal Port Pvt Ltd - India
- Coastal Gujarat Power Limited - India
- The State Trading Corporation of India Ltd
- Energy Link Ltd, New Zealand
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- CNBM International Corporation - China
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- AsiaOL BioFuels Corp., Philippines
- Ceylon Electricity Board - Sri Lanka
- Bhoruka Overseas - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- PTC India Limited - India
- Jindal Steel & Power Ltd - India
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- PowerSource Philippines DevCo
- Edison Trading Spa - Italy
- Bhatia International Limited - India
- Bukit Baiduri Energy - Indonesia
- McConnell Dowell - Australia
- Timah Investasi Mineral - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kumho Petrochemical, South Korea
- European Bulk Services B.V. - Netherlands
- Simpson Spence & Young - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Economic Council, Georgia
- Holcim Trading Pte Ltd - Singapore
- Therma Luzon, Inc, Philippines
- GMR Energy Limited - India
- Kapuas Tunggal Persada - Indonesia
- Metalloyd Limited - United Kingdom
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Bahari Cakrawala Sebuku - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Mercuria Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Finance - Indonesia
- Trasteel International SA, Italy
- Australian Coal Association
- Star Paper Mills Limited - India
- Krishnapatnam Port Company Ltd. - India
- Deloitte Consulting - India
- Baramulti Group, Indonesia
- PNOC Exploration Corporation - Philippines
- Wood Mackenzie - Singapore
- Tata Chemicals Ltd - India
- Posco Energy - South Korea
- Asia Pacific Energy Resources Ventures Inc, Philippines
- South Luzon Thermal Energy Corporation
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Globalindo Alam Lestari - Indonesia
- Coal and Oil Company - UAE
- Neyveli Lignite Corporation Ltd, - India
- Asmin Koalindo Tuhup - Indonesia
- SMC Global Power, Philippines
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Xindia Steels Limited - India
- Medco Energi Mining Internasional
- Goldman Sachs - Singapore
- Makarim & Taira - Indonesia
- Vizag Seaport Private Limited - India
- Binh Thuan Hamico - Vietnam
- Leighton Contractors Pty Ltd - Australia
- Rashtriya Ispat Nigam Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Manunggal Multi Energi - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Cement Manufacturers Association - India
- Kobexindo Tractors - Indoneisa
- Ministry of Transport, Egypt
- San Jose City I Power Corp, Philippines
- Videocon Industries ltd - India
- Singapore Mercantile Exchange
- International Coal Ventures Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Indian Energy Exchange, India
- GVK Power & Infra Limited - India
- Bhushan Steel Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Central Java Power - Indonesia
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Ind-Barath Power Infra Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Latin American Coal - Colombia
- Semirara Mining Corp, Philippines
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Bulk Trading Sa - Switzerland
- Ministry of Mines - Canada
- Formosa Plastics Group - Taiwan
- Billiton Holdings Pty Ltd - Australia
- OPG Power Generation Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Directorate Of Revenue Intelligence - India
- Pipit Mutiara Jaya. PT, Indonesia
- Meralco Power Generation, Philippines
- Wilmar Investment Holdings
- The University of Queensland
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- India Bulls Power Limited - India
- Mercator Lines Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Grasim Industreis Ltd - India
- Bayan Resources Tbk. - Indonesia
- TeaM Sual Corporation - Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Essar Steel Hazira Ltd - India
- Indogreen Group - Indonesia
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