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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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Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
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- Goldman Sachs - Singapore
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- San Jose City I Power Corp, Philippines
- Indian Energy Exchange, India
- Sindya Power Generating Company Private Ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Electricity Authority, New Zealand
- Port Waratah Coal Services - Australia
- Aboitiz Power Corporation - Philippines
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Antam Resourcindo - Indonesia
- Tamil Nadu electricity Board
- Kapuas Tunggal Persada - Indonesia
- Chamber of Mines of South Africa
- Electricity Generating Authority of Thailand
- Chettinad Cement Corporation Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Metalloyd Limited - United Kingdom
- Ind-Barath Power Infra Limited - India
- Coalindo Energy - Indonesia
- Larsen & Toubro Limited - India
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Global Business Power Corporation, Philippines
- Wood Mackenzie - Singapore
- Carbofer General Trading SA - India
- Kartika Selabumi Mining - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- PNOC Exploration Corporation - Philippines
- Manunggal Multi Energi - Indonesia
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Bhatia International Limited - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Bhoruka Overseas - Indonesia
- Singapore Mercantile Exchange
- OPG Power Generation Pvt Ltd - India
- Meenaskhi Energy Private Limited - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Australian Coal Association
- Cement Manufacturers Association - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Siam City Cement - Thailand
- Semirara Mining and Power Corporation, Philippines
- Xindia Steels Limited - India
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Central Electricity Authority - India
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Indian Oil Corporation Limited
- Gujarat Sidhee Cement - India
- AsiaOL BioFuels Corp., Philippines
- Simpson Spence & Young - Indonesia
- Star Paper Mills Limited - India
- Coal and Oil Company - UAE
- Kobexindo Tractors - Indoneisa
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Sakthi Sugars Limited - India
- Formosa Plastics Group - Taiwan
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Ministry of Mines - Canada
- Baramulti Group, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Madhucon Powers Ltd - India
- Vizag Seaport Private Limited - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Marubeni Corporation - India
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Attock Cement Pakistan Limited
- Trasteel International SA, Italy
- Samtan Co., Ltd - South Korea
- Asmin Koalindo Tuhup - Indonesia
- Altura Mining Limited, Indonesia
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Rio Tinto Coal - Australia
- Jaiprakash Power Ventures ltd
- Straits Asia Resources Limited - Singapore
- Energy Link Ltd, New Zealand
- Bukit Baiduri Energy - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bhushan Steel Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Mintek Dendrill Indonesia
- Binh Thuan Hamico - Vietnam
- TNB Fuel Sdn Bhd - Malaysia
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Maheswari Brothers Coal Limited - India
- New Zealand Coal & Carbon
- Merrill Lynch Commodities Europe
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Ambuja Cements Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Wilmar Investment Holdings
- Ceylon Electricity Board - Sri Lanka
- European Bulk Services B.V. - Netherlands
- Mercator Lines Limited - India
- Meralco Power Generation, Philippines
- Edison Trading Spa - Italy
- White Energy Company Limited
- Indogreen Group - Indonesia
- Borneo Indobara - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Minerals Council of Australia
- Economic Council, Georgia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Intertek Mineral Services - Indonesia
- Vedanta Resources Plc - India
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercuria Energy - Indonesia
- Eastern Coal Council - USA
- Bukit Makmur.PT - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- GMR Energy Limited - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Miang Besar Coal Terminal - Indonesia
- Commonwealth Bank - Australia
- VISA Power Limited - India
- TeaM Sual Corporation - Philippines
- Maharashtra Electricity Regulatory Commission - India
- CIMB Investment Bank - Malaysia
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Bangladesh Power Developement Board
- Price Waterhouse Coopers - Russia
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Kideco Jaya Agung - Indonesia
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- Bukit Asam (Persero) Tbk - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Lanco Infratech Ltd - India
- Africa Commodities Group - South Africa
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- Malabar Cements Ltd - India
- Dalmia Cement Bharat India
- Petron Corporation, Philippines
- Coastal Gujarat Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Latin American Coal - Colombia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- ICICI Bank Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement PLC, Thailand
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Independent Power Producers Association of India
- Global Coal Blending Company Limited - Australia
- Krishnapatnam Port Company Ltd. - India
- Eastern Energy - Thailand
- PowerSource Philippines DevCo
- Bharathi Cement Corporation - India
- Bulk Trading Sa - Switzerland
- Leighton Contractors Pty Ltd - Australia
- Romanian Commodities Exchange
- Thai Mozambique Logistica
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Grasim Industreis Ltd - India
- Kepco SPC Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Essar Steel Hazira Ltd - India
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