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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, 02 November 11
MMTC TO BUY 3.73 MILLION TONS OF COAL FOR 2011- 2013
COALspot.com - India’s state-owned coal and mineral trader MMTC looking for 3.73 million tons of power plant coal for the period 2011 - 2012/ ...
Wednesday, 02 November 11
PANAMAX MARKET BECAME QUIETER AFTER THE RECENT RECOVERY - BRS
There were substantial losses across the board this week: the BDI lost 6.3% to end at 2,018 and the BCI 8.2% to end 3,274. In the smaller sizes the ...
Tuesday, 01 November 11
BORNEO LUMBUNG BUYS 23.8% INTEREST IN BUMI
COALspot.com - PT. Borneo Lumbung Energi (BORN), an Indonesian coking coal producer announces that it has signed a sale and purchase agreement, cond ...
Tuesday, 01 November 11
BAKRIE FORMS STRATEGIC PARTNERSHIP WITH BORNEO - REDUCING DEBT BY USD 1 BILLION
Press Release - Enhancing the standing of “Indonesia Inc.” at the London Stock Exchange PT Bakrie & Brothers Tbk (“BNBR” ...
Tuesday, 01 November 11
ATLAS RESOURCES SETS IPO AT RP1,500 - INSIDER STORIES
Insider Stories reported that, coal miner PT Atlas Resources Tbk has set its initial public offering (IPO) at Rp1,500 (approximately US$ 0.169) per ...
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- Neyveli Lignite Corporation Ltd, - India
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- Eastern Energy - Thailand
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- Indian Energy Exchange, India
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- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Ministry of Finance - Indonesia
- Renaissance Capital - South Africa
- Rio Tinto Coal - Australia
- Medco Energi Mining Internasional
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- Asia Pacific Energy Resources Ventures Inc, Philippines
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- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Thiess Contractors Indonesia
- Planning Commission, India
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- Makarim & Taira - Indonesia
- The University of Queensland
- Straits Asia Resources Limited - Singapore
- Georgia Ports Authority, United States
- Ministry of Transport, Egypt
- Pendopo Energi Batubara - Indonesia
- Indo Tambangraya Megah - Indonesia
- The Treasury - Australian Government
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
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- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Wood Mackenzie - Singapore
- Kaltim Prima Coal - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Sical Logistics Limited - India
- IEA Clean Coal Centre - UK
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Australian Coal Association
- Gujarat Sidhee Cement - India
- Marubeni Corporation - India
- ASAPP Information Group - India
- Mercuria Energy - Indonesia
- CNBM International Corporation - China
- White Energy Company Limited
- Sindya Power Generating Company Private Ltd
- Indika Energy - Indonesia
- Thai Mozambique Logistica
- Dalmia Cement Bharat India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- SMC Global Power, Philippines
- Economic Council, Georgia
- Meenaskhi Energy Private Limited - India
- Bayan Resources Tbk. - Indonesia
- London Commodity Brokers - England
- Madhucon Powers Ltd - India
- Toyota Tsusho Corporation, Japan
- Independent Power Producers Association of India
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Global Business Power Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement PLC, Thailand
- South Luzon Thermal Energy Corporation
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Xindia Steels Limited - India
- Goldman Sachs - Singapore
- Australian Commodity Traders Exchange
- Indonesian Coal Mining Association
- SN Aboitiz Power Inc, Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- MS Steel International - UAE
- Petron Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Miang Besar Coal Terminal - Indonesia
- Romanian Commodities Exchange
- GVK Power & Infra Limited - India
- Leighton Contractors Pty Ltd - Australia
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Mjunction Services Limited - India
- Wilmar Investment Holdings
- PetroVietnam Power Coal Import and Supply Company
- Jorong Barutama Greston.PT - Indonesia
- Kumho Petrochemical, South Korea
- Billiton Holdings Pty Ltd - Australia
- McConnell Dowell - Australia
- Posco Energy - South Korea
- Salva Resources Pvt Ltd - India
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Uttam Galva Steels Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Formosa Plastics Group - Taiwan
- Central Electricity Authority - India
- Commonwealth Bank - Australia
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Africa Commodities Group - South Africa
- Krishnapatnam Port Company Ltd. - India
- Star Paper Mills Limited - India
- Maheswari Brothers Coal Limited - India
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Directorate Of Revenue Intelligence - India
- Indian Oil Corporation Limited
- Gujarat Electricity Regulatory Commission - India
- Standard Chartered Bank - UAE
- Alfred C Toepfer International GmbH - Germany
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Merrill Lynch Commodities Europe
- Bharathi Cement Corporation - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kobexindo Tractors - Indoneisa
- TeaM Sual Corporation - Philippines
- Globalindo Alam Lestari - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
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- Global Green Power PLC Corporation, Philippines
- LBH Netherlands Bv - Netherlands
- Parliament of New Zealand
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Attock Cement Pakistan Limited
- Eastern Coal Council - USA
- Bukit Baiduri Energy - Indonesia
- Parry Sugars Refinery, India
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Cement Manufacturers Association - India
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- Meralco Power Generation, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
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- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Jaiprakash Power Ventures ltd
- Karbindo Abesyapradhi - Indoneisa
- India Bulls Power Limited - India
- New Zealand Coal & Carbon
- Ministry of Mines - Canada
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Bukit Makmur.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Tata Chemicals Ltd - India
- Samtan Co., Ltd - South Korea
- Aditya Birla Group - India
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Altura Mining Limited, Indonesia
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- CIMB Investment Bank - Malaysia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Malabar Cements Ltd - India
- Orica Mining Services - Indonesia
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- Kohat Cement Company Ltd. - Pakistan
- GAC Shipping (India) Pvt Ltd
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