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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, 26 October 11
INDIAN MARKET WAS REMAINED TIGHT THE WHOLE LAST WEEK - BRS
The market once more seems to be at a crossroads. The indices last week remained fairly stable (except for the Panamax sector), ending the week as f ...
Tuesday, 25 October 11
DRY BULK MARKET STEADY, ANALYSTS LOOKING FOR ADDED PRESSURE ON THE MARKET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market was unchanged on Monday, with the industry’s benchmark, the BDI (Baltic Dry Index) ending the session at 2,153 points, exa ...
Monday, 24 October 11
NEW HEAD OF INDONESIA'S MINING MINISTRY GETS RAKED OVER THE COALS - JOSEPH KIRSCHKE
COALspot.com - Following Indonesia’s presidential cabinet shakeup last week, many are questioning the qualifications of Energy and Mineral Res ...
Monday, 24 October 11
CHINA QINHUANGDAO COAL PRICE RISES TO HIGHEST IN THREE YEARS - BUSINESSWEEK
Business week reported that, China’s power-station coal price rose to the highest level in three years as power stations and central heating p ...
Monday, 24 October 11
CAPESIZE RENTAL RATES RISE FOR THIRD DAY AS MORE SHIPS HIRED - HELLENIC SHIPPING
Rates to hire capesize vessels advanced for a third day on signs of increased demand to transport iron ore, used to make steel.Daily rates for the s ...
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- Trasteel International SA, Italy
- MS Steel International - UAE
- Aboitiz Power Corporation - Philippines
- Billiton Holdings Pty Ltd - Australia
- Kepco SPC Power Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Global Green Power PLC Corporation, Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Makarim & Taira - Indonesia
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- Indian Oil Corporation Limited
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- Siam City Cement - Thailand
- Chettinad Cement Corporation Ltd - India
- Meenaskhi Energy Private Limited - India
- Banpu Public Company Limited - Thailand
- Altura Mining Limited, Indonesia
- Price Waterhouse Coopers - Russia
- TeaM Sual Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Global Business Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bukit Makmur.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Latin American Coal - Colombia
- LBH Netherlands Bv - Netherlands
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Alfred C Toepfer International GmbH - Germany
- Aditya Birla Group - India
- Kalimantan Lumbung Energi - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Kobexindo Tractors - Indoneisa
- IEA Clean Coal Centre - UK
- Coastal Gujarat Power Limited - India
- White Energy Company Limited
- The State Trading Corporation of India Ltd
- SN Aboitiz Power Inc, Philippines
- Coal and Oil Company - UAE
- Posco Energy - South Korea
- Mercuria Energy - Indonesia
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Timah Investasi Mineral - Indoneisa
- Sarangani Energy Corporation, Philippines
- Indonesian Coal Mining Association
- PetroVietnam Power Coal Import and Supply Company
- Bhatia International Limited - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- The University of Queensland
- Sakthi Sugars Limited - India
- Barasentosa Lestari - Indonesia
- Indogreen Group - Indonesia
- SMC Global Power, Philippines
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- Riau Bara Harum - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Cement Manufacturers Association - India
- IHS Mccloskey Coal Group - USA
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Borneo Indobara - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Power Finance Corporation Ltd., India
- Karbindo Abesyapradhi - Indoneisa
- Heidelberg Cement - Germany
- Maheswari Brothers Coal Limited - India
- Medco Energi Mining Internasional
- Energy Link Ltd, New Zealand
- Kapuas Tunggal Persada - Indonesia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Intertek Mineral Services - Indonesia
- OPG Power Generation Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Georgia Ports Authority, United States
- Ministry of Finance - Indonesia
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Savvy Resources Ltd - HongKong
- Goldman Sachs - Singapore
- Salva Resources Pvt Ltd - India
- Straits Asia Resources Limited - Singapore
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Jindal Steel & Power Ltd - India
- Therma Luzon, Inc, Philippines
- Agrawal Coal Company - India
- Madhucon Powers Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Pipit Mutiara Jaya. PT, Indonesia
- Manunggal Multi Energi - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Indika Energy - Indonesia
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Energy Development Corp, Philippines
- Mintek Dendrill Indonesia
- Globalindo Alam Lestari - Indonesia
- Marubeni Corporation - India
- Sinarmas Energy and Mining - Indonesia
- Ambuja Cements Ltd - India
- ASAPP Information Group - India
- Indo Tambangraya Megah - Indonesia
- Star Paper Mills Limited - India
- Interocean Group of Companies - India
- Ind-Barath Power Infra Limited - India
- Samtan Co., Ltd - South Korea
- Semirara Mining Corp, Philippines
- Thiess Contractors Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Mjunction Services Limited - India
- Sical Logistics Limited - India
- Electricity Authority, New Zealand
- Africa Commodities Group - South Africa
- Ministry of Transport, Egypt
- South Luzon Thermal Energy Corporation
- The Treasury - Australian Government
- Electricity Generating Authority of Thailand
- Simpson Spence & Young - Indonesia
- Xindia Steels Limited - India
- Chamber of Mines of South Africa
- Port Waratah Coal Services - Australia
- Kartika Selabumi Mining - Indonesia
- Central Electricity Authority - India
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- PTC India Limited - India
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- GVK Power & Infra Limited - India
- Holcim Trading Pte Ltd - Singapore
- Global Coal Blending Company Limited - Australia
- Sree Jayajothi Cements Limited - India
- Carbofer General Trading SA - India
- Dalmia Cement Bharat India
- Karaikal Port Pvt Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Iligan Light & Power Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Anglo American - United Kingdom
- Larsen & Toubro Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Jorong Barutama Greston.PT - Indonesia
- Metalloyd Limited - United Kingdom
- Economic Council, Georgia
- Ceylon Electricity Board - Sri Lanka
- ICICI Bank Limited - India
- Sojitz Corporation - Japan
- Rashtriya Ispat Nigam Limited - India
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Siam City Cement PLC, Thailand
- Videocon Industries ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- Bangladesh Power Developement Board
- Lanco Infratech Ltd - India
- European Bulk Services B.V. - Netherlands
- Minerals Council of Australia
- Bhoruka Overseas - Indonesia
- Ministry of Mines - Canada
- Renaissance Capital - South Africa
- Kohat Cement Company Ltd. - Pakistan
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Antam Resourcindo - Indonesia
- VISA Power Limited - India
- Australian Coal Association
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- Orica Mining Services - Indonesia
- Rio Tinto Coal - Australia
- Gujarat Sidhee Cement - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Romanian Commodities Exchange
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tata Chemicals Ltd - India
- Toyota Tsusho Corporation, Japan
- Australian Commodity Traders Exchange
- Uttam Galva Steels Limited - India
- Parry Sugars Refinery, India
- Grasim Industreis Ltd - India
- Wilmar Investment Holdings
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Petron Corporation, Philippines
- Merrill Lynch Commodities Europe
- Planning Commission, India
- Deloitte Consulting - India
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