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Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor’s says it doubts the government will implement them strictly.
“Whether the government of Indonesia will follow up on its hard-line stance is still a question,” the ratings agency said in its latest report on mining.
However, S&P added that “our ratings on mining companies operating in Indonesia have long factored in the country’s evolving regulations. Therefore, our credit outlook on the sector remains stable.”
The government this year issued a series of controversial mining regulations, including plans for an ore export ban, higher royalties, a ceiling on foreign ownership of mining assets, a required upgrade in coal quality before export and so-called “contract of work” renegotiations.
“Not a week has passed without government officials calling for additional royalties, a review of ownership rules or a more equal redistribution of mineral wealth,” S&P said in the report.
Industry Minister M.S. Hidayat was on Thursday quoted by Reuters reiterating an earlier statement by his ministry that the government is studying a 25 percent tax on mining exports this year that will become a 50 percent tax in 2013.
S&P said that if the move is strictly implemented, it “would undeniably hurt Indonesian mining companies as well as international companies that have mining operations in Indonesia. It would raise the cost of doing business in the sector and lessen its attractiveness to investors.”
The ratings agency said that it believed “the government of Indonesia will take a pragmatic approach while implementing mining regulations, given the sector’s economic importance.”
Last year, the government received $6.5 billion in taxes and royalties from mining companies, constituting 5 percent of total government revenue.
Dileep Srivastava, the investor relations director at large coal miner Bumi Resources, expressed concern about the tax.
“If this is enacted, some of our metals and minor coal assets may be vulnerable,” he said.
“But it is premature to form any view yet.”
Source: The Jakarta Globe
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Thursday, 05 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
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- Ministry of Finance - Indonesia
- International Coal Ventures Pvt Ltd - India
- Rashtriya Ispat Nigam Limited - India
- GVK Power & Infra Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Merrill Lynch Commodities Europe
- Anglo American - United Kingdom
- Baramulti Group, Indonesia
- India Bulls Power Limited - India
- Energy Link Ltd, New Zealand
- Indian Energy Exchange, India
- Sakthi Sugars Limited - India
- SMC Global Power, Philippines
- Ministry of Mines - Canada
- Ambuja Cements Ltd - India
- Australian Coal Association
- MS Steel International - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Trasteel International SA, Italy
- Kepco SPC Power Corporation, Philippines
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Larsen & Toubro Limited - India
- Directorate Of Revenue Intelligence - India
- Goldman Sachs - Singapore
- Bukit Makmur.PT - Indonesia
- Global Green Power PLC Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- SN Aboitiz Power Inc, Philippines
- Leighton Contractors Pty Ltd - Australia
- Eastern Coal Council - USA
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- Aditya Birla Group - India
- Altura Mining Limited, Indonesia
- Renaissance Capital - South Africa
- Mercuria Energy - Indonesia
- South Luzon Thermal Energy Corporation
- Savvy Resources Ltd - HongKong
- Eastern Energy - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Indonesian Coal Mining Association
- Attock Cement Pakistan Limited
- Deloitte Consulting - India
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Straits Asia Resources Limited - Singapore
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Global Business Power Corporation, Philippines
- Alfred C Toepfer International GmbH - Germany
- Latin American Coal - Colombia
- San Jose City I Power Corp, Philippines
- IEA Clean Coal Centre - UK
- New Zealand Coal & Carbon
- Siam City Cement PLC, Thailand
- Maharashtra Electricity Regulatory Commission - India
- Lanco Infratech Ltd - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Bahari Cakrawala Sebuku - Indonesia
- Coal and Oil Company - UAE
- OPG Power Generation Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Dalmia Cement Bharat India
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- Singapore Mercantile Exchange
- Bhushan Steel Limited - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- Energy Development Corp, Philippines
- Indogreen Group - Indonesia
- Ministry of Transport, Egypt
- Meralco Power Generation, Philippines
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Globalindo Alam Lestari - Indonesia
- Minerals Council of Australia
- Bukit Baiduri Energy - Indonesia
- Tata Chemicals Ltd - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Iligan Light & Power Inc, Philippines
- Siam City Cement - Thailand
- Africa Commodities Group - South Africa
- Parliament of New Zealand
- Salva Resources Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Mining Services - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Mintek Dendrill Indonesia
- Central Electricity Authority - India
- Orica Australia Pty. Ltd.
- Rio Tinto Coal - Australia
- Port Waratah Coal Services - Australia
- Coalindo Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Chamber of Mines of South Africa
- Posco Energy - South Korea
- TeaM Sual Corporation - Philippines
- Planning Commission, India
- Pendopo Energi Batubara - Indonesia
- European Bulk Services B.V. - Netherlands
- Independent Power Producers Association of India
- Uttam Galva Steels Limited - India
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Borneo Indobara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Formosa Plastics Group - Taiwan
- Sinarmas Energy and Mining - Indonesia
- Indian Oil Corporation Limited
- Sree Jayajothi Cements Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indo Tambangraya Megah - Indonesia
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- GMR Energy Limited - India
- Edison Trading Spa - Italy
- Price Waterhouse Coopers - Russia
- ICICI Bank Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Ind-Barath Power Infra Limited - India
- Vedanta Resources Plc - India
- Mjunction Services Limited - India
- Sarangani Energy Corporation, Philippines
- Marubeni Corporation - India
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Kartika Selabumi Mining - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Tamil Nadu electricity Board
- Star Paper Mills Limited - India
- Essar Steel Hazira Ltd - India
- Aboitiz Power Corporation - Philippines
- Indika Energy - Indonesia
- Kaltim Prima Coal - Indonesia
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Semirara Mining Corp, Philippines
- Sindya Power Generating Company Private Ltd
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Asia Pacific Energy Resources Ventures Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Wilmar Investment Holdings
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Medco Energi Mining Internasional
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- IHS Mccloskey Coal Group - USA
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- Intertek Mineral Services - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- PetroVietnam Power Coal Import and Supply Company
- VISA Power Limited - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Electricity Authority, New Zealand
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Asmin Koalindo Tuhup - Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Kalimantan Lumbung Energi - Indonesia
- Bulk Trading Sa - Switzerland
- Romanian Commodities Exchange
- LBH Netherlands Bv - Netherlands
- PTC India Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thiess Contractors Indonesia
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