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Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
 The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on mineral ores and coal, saying that the measure would severely hurt their businesses because they already pay high income tax rates.
The executive director of the Indonesian Mining Association (IMA), Syahrir Abubakar, said in Jakarta on Thursday that the government should be aware that under their contracts of work, miners paid a corporate income rate of between 35 and 45 percent, which was higher than the 25 percent imposed on other companies.
“Some of them pay between 35 percent and 45 percent even though the 2008 Income Tax Law regulates that the tax is only 25 percent,” he told reporters on the sidelines of the launch of the Mining & Engineering Indonesian Exhibition in Jakarta on Thursday.
If the government insists on applying the export tax, it should also declare that all companies pay tax according to prevailing laws, and not based on their contracts, he said. Currently, contracts of work in the country use the principle of “nail down” in which the taxes paid by miners follow the regulations in force when the contracts were signed, he explained.
“It’s no problem if the government wants to increase its revenue by applying new taxes, but it has to ensure that all the companies are on the same level playing field and are getting the same treatment. If not, this will kill the companies,” Syahrir said.
The government has the power to call all contract holders and inform them that it will apply the prevailing laws in tax payment and therefore the conditions in the contracts have to be renegotiated, he said.
“There’s nothing wrong with the government’s desire to boost tax revenue, but it has to do it in a way that doesn’t endanger the miners,” he said.
He said the government had never invited mining companies to discuss the plan.
Supriatna Suhala, the executive director of the Indonesian Coal Mining Association (APBI), agreed with Syahrir that equal treatment for all miners was necessary. However, he warned that implementing the plan would be difficult if not impossible.
“If the government insists, we have to revise the content of the 2009 Minerals and Coal Law. Our contracts with the government must also be renewed. What we need is equal treatment. Now, companies pay taxes and royalties in different amounts,” he said over the phone.
“In my opinion, this plan will do more harm than good.”
The discourse over the export tax first began following Industry Minister MS Hidayat’s statement that the policy was aimed at preventing companies overexploiting the county’s mineral resources and selling it in ore form without thinking about the future of the nation’s reserves.
The planned tax will supplement the government’s decision to ban mineral ore exports in 2014, which is mandated by the 2009 Minerals and Coal Law and a 2012 ministerial regulation.
When asked about the export duty, the Energy and Mineral Resources Ministry’s director general for minerals and coal, Thamrin Sihite, declined to comment.
Source: The Jakarta Post
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Wednesday, 31 January 24
CHINA'S INNER MONGOLIA COAL OUTPUT HIT 1.21B TONS IN 2023 - XINHUA
North China’s Inner Mongolia autonomous region churned out 1.21 billion tons of coal in 2023 as it strives to guarantee the country’s e ...
Wednesday, 31 January 24
GAS EXPORTS COST U.S. CONSUMERS MORE THAN $100 BILLION OVER 16-MONTH PERIOD - IEEFA
Limited Demand Growth Could Dampen the Dry Bulk Market in the Coming Months BIMCOStarting in late 2021—before its invasion of Ukraine—R ...
Tuesday, 30 January 24
LIMITED DEMAND GROWTH COULD DAMPEN THE DRY BULK MARKET IN THE COMING MONTHS - BIMCO
Demand
In our base scenario, we expect cargo demand to grow by 0-1% in 2024 and 0.5-1.5% in 2025. This is a 0.5 percentage point reduction for ...
Friday, 26 January 24
RED SEA DIVERSIONS ADD NEARLY A MILLION DOLLARS PER VOYAGE TO SHIPPING COSTS WHILE DOUBLING TRANSIT TIME - LSEG
The incremental costs of diverting a tanker from Asia to NW Europe via the Cape of Good Hope is accounting for an extra $932,905 USD per voyage whi ...
Friday, 26 January 24
HARD COAL GUARDIAN ANGEL OF THE ENERGY SUPPLY - GERMANY COAL IMPORTERS ASSOCIATION
- No security of supply without hard coal
- The Substitute Power Plant Provision Act (EKBG) must be extended
- Higher grid fees due to the ...
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- Iligan Light & Power Inc, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Manunggal Multi Energi - Indonesia
- Straits Asia Resources Limited - Singapore
- White Energy Company Limited
- Mercator Lines Limited - India
- Semirara Mining and Power Corporation, Philippines
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Leighton Contractors Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Meralco Power Generation, Philippines
- Sarangani Energy Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- ASAPP Information Group - India
- Kartika Selabumi Mining - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Timah Investasi Mineral - Indoneisa
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- SMC Global Power, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Electricity Authority, New Zealand
- Karaikal Port Pvt Ltd - India
- Parliament of New Zealand
- Siam City Cement - Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Globalindo Alam Lestari - Indonesia
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Orica Mining Services - Indonesia
- Thiess Contractors Indonesia
- London Commodity Brokers - England
- Sojitz Corporation - Japan
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Central Java Power - Indonesia
- Singapore Mercantile Exchange
- Larsen & Toubro Limited - India
- South Luzon Thermal Energy Corporation
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- MS Steel International - UAE
- Dalmia Cement Bharat India
- Videocon Industries ltd - India
- Indika Energy - Indonesia
- Economic Council, Georgia
- Kapuas Tunggal Persada - Indonesia
- The State Trading Corporation of India Ltd
- Renaissance Capital - South Africa
- Energy Development Corp, Philippines
- Sical Logistics Limited - India
- Marubeni Corporation - India
- Savvy Resources Ltd - HongKong
- Malabar Cements Ltd - India
- International Coal Ventures Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Baramulti Group, Indonesia
- Coal and Oil Company - UAE
- Rio Tinto Coal - Australia
- Deloitte Consulting - India
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- OPG Power Generation Pvt Ltd - India
- Makarim & Taira - Indonesia
- The University of Queensland
- Bharathi Cement Corporation - India
- SMG Consultants - Indonesia
- Holcim Trading Pte Ltd - Singapore
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Kepco SPC Power Corporation, Philippines
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Attock Cement Pakistan Limited
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Romanian Commodities Exchange
- Neyveli Lignite Corporation Ltd, - India
- IHS Mccloskey Coal Group - USA
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Ambuja Cements Ltd - India
- Maheswari Brothers Coal Limited - India
- SN Aboitiz Power Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Binh Thuan Hamico - Vietnam
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Central Electricity Authority - India
- Price Waterhouse Coopers - Russia
- Ministry of Finance - Indonesia
- Vizag Seaport Private Limited - India
- Meenaskhi Energy Private Limited - India
- Australian Coal Association
- Minerals Council of Australia
- CNBM International Corporation - China
- Eastern Coal Council - USA
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- Gujarat Electricity Regulatory Commission - India
- GVK Power & Infra Limited - India
- Georgia Ports Authority, United States
- Cigading International Bulk Terminal - Indonesia
- GAC Shipping (India) Pvt Ltd
- European Bulk Services B.V. - Netherlands
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Bukit Asam (Persero) Tbk - Indonesia
- Jindal Steel & Power Ltd - India
- Goldman Sachs - Singapore
- Jaiprakash Power Ventures ltd
- Riau Bara Harum - Indonesia
- Orica Australia Pty. Ltd.
- PowerSource Philippines DevCo
- GN Power Mariveles Coal Plant, Philippines
- Madhucon Powers Ltd - India
- Commonwealth Bank - Australia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Ind-Barath Power Infra Limited - India
- Oldendorff Carriers - Singapore
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mercuria Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Trasteel International SA, Italy
- TeaM Sual Corporation - Philippines
- Mintek Dendrill Indonesia
- Energy Link Ltd, New Zealand
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- ICICI Bank Limited - India
- Borneo Indobara - Indonesia
- San Jose City I Power Corp, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Power Finance Corporation Ltd., India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Gujarat Sidhee Cement - India
- Mjunction Services Limited - India
- LBH Netherlands Bv - Netherlands
- Lanco Infratech Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Formosa Plastics Group - Taiwan
- Intertek Mineral Services - Indonesia
- IEA Clean Coal Centre - UK
- Petrochimia International Co. Ltd.- Taiwan
- Global Coal Blending Company Limited - Australia
- PTC India Limited - India
- Essar Steel Hazira Ltd - India
- Thai Mozambique Logistica
- Rashtriya Ispat Nigam Limited - India
- CIMB Investment Bank - Malaysia
- Coalindo Energy - Indonesia
- Xindia Steels Limited - India
- Aditya Birla Group - India
- Krishnapatnam Port Company Ltd. - India
- Posco Energy - South Korea
- Bukit Baiduri Energy - Indonesia
- Kobexindo Tractors - Indoneisa
- Kalimantan Lumbung Energi - Indonesia
- Simpson Spence & Young - Indonesia
- New Zealand Coal & Carbon
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhushan Steel Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
- Standard Chartered Bank - UAE
- Ministry of Transport, Egypt
- Medco Energi Mining Internasional
- Indian Oil Corporation Limited
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- PNOC Exploration Corporation - Philippines
- Altura Mining Limited, Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Pendopo Energi Batubara - Indonesia
- Planning Commission, India
- Uttam Galva Steels Limited - India
- Chettinad Cement Corporation Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- Indogreen Group - Indonesia
- Interocean Group of Companies - India
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- McConnell Dowell - Australia
- Semirara Mining Corp, Philippines
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
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