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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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Sunday, 23 October 11
CHINA LOOKING TO RESELL INDONESIAN COAL CARGOES - BARCLAYS
Commodity Online reported that, Anecdotal evidence has suggested that China is even looking to resell Indonesian cargoes back into the seaborne coal ...
Saturday, 22 October 11
THE SHORT-PERIOD RATES FOR PANAMAX REMAINED FIRM - CAPT. REDDY
COALspot.com - "The market seemed to slow down a bit this week, and all sectors were down by about One to five percent", said Capt. Reddy, ...
Saturday, 22 October 11
WILL THE PROPOSED 26 PERCENT PROFIT SHARING CLAUSE IN THE MINING BILL SPEED UP THE PRODUCTION OR SCARE AWAY INVESTORS? - DIPESH DIPU
A draft law has been approved by a ministerial panel headed by Finance Minister Pranab Mukherjee of India which, if passed by the Cabinet, will make ...
Saturday, 22 October 11
INDONESIA'S GOLDEN ENERGY SLASHES ITS IPO PRICE - THE JAKARTA GLOBE
The Jakarta Globe reported that, Golden Energy Mines, a coal mining company affiliated with Sinar Mas Group, lowered its target in an initial public ...
Thursday, 20 October 11
CAPESIZE - TUBARAO /QINGDAO BEING FIXED AT STRONG US$ 29.75 PMT
Handy
The Atlantic market is quite steady, and market seems to be around the same levels as last week. Fewer fixtures reported though. ...
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- Indian Energy Exchange, India
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- New Zealand Coal & Carbon
- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Bank of Tokyo Mitsubishi UFJ Ltd
- Krishnapatnam Port Company Ltd. - India
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Indogreen Group - Indonesia
- Parry Sugars Refinery, India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Sical Logistics Limited - India
- Siam City Cement PLC, Thailand
- Sinarmas Energy and Mining - Indonesia
- Kaltim Prima Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- London Commodity Brokers - England
- Maharashtra Electricity Regulatory Commission - India
- Minerals Council of Australia
- Riau Bara Harum - Indonesia
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- GMR Energy Limited - India
- Kepco SPC Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mintek Dendrill Indonesia
- Ambuja Cements Ltd - India
- Jaiprakash Power Ventures ltd
- Barasentosa Lestari - Indonesia
- Bharathi Cement Corporation - India
- Ministry of Transport, Egypt
- TeaM Sual Corporation - Philippines
- Toyota Tsusho Corporation, Japan
- PNOC Exploration Corporation - Philippines
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- OPG Power Generation Pvt Ltd - India
- Medco Energi Mining Internasional
- Intertek Mineral Services - Indonesia
- Star Paper Mills Limited - India
- Planning Commission, India
- Kobexindo Tractors - Indoneisa
- Georgia Ports Authority, United States
- Samtan Co., Ltd - South Korea
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Indika Energy - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- European Bulk Services B.V. - Netherlands
- The Treasury - Australian Government
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vizag Seaport Private Limited - India
- Trasteel International SA, Italy
- Bahari Cakrawala Sebuku - Indonesia
- Orica Mining Services - Indonesia
- Petron Corporation, Philippines
- Parliament of New Zealand
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- MS Steel International - UAE
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Goldman Sachs - Singapore
- Kideco Jaya Agung - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Meralco Power Generation, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Sree Jayajothi Cements Limited - India
- Bayan Resources Tbk. - Indonesia
- Central Electricity Authority - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Orica Australia Pty. Ltd.
- Carbofer General Trading SA - India
- Ministry of Mines - Canada
- Wood Mackenzie - Singapore
- Salva Resources Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Vedanta Resources Plc - India
- Kumho Petrochemical, South Korea
- Ind-Barath Power Infra Limited - India
- Pendopo Energi Batubara - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Singapore Mercantile Exchange
- Tamil Nadu electricity Board
- Independent Power Producers Association of India
- PetroVietnam Power Coal Import and Supply Company
- Metalloyd Limited - United Kingdom
- Aditya Birla Group - India
- CNBM International Corporation - China
- Makarim & Taira - Indonesia
- Oldendorff Carriers - Singapore
- Karaikal Port Pvt Ltd - India
- Semirara Mining Corp, Philippines
- Jindal Steel & Power Ltd - India
- Latin American Coal - Colombia
- Gujarat Electricity Regulatory Commission - India
- Formosa Plastics Group - Taiwan
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Iligan Light & Power Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- Marubeni Corporation - India
- Straits Asia Resources Limited - Singapore
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- Antam Resourcindo - Indonesia
- SMG Consultants - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Baramulti Group, Indonesia
- Energy Link Ltd, New Zealand
- Electricity Authority, New Zealand
- Xindia Steels Limited - India
- Lanco Infratech Ltd - India
- Rashtriya Ispat Nigam Limited - India
- Altura Mining Limited, Indonesia
- Mercuria Energy - Indonesia
- Heidelberg Cement - Germany
- Africa Commodities Group - South Africa
- Bukit Baiduri Energy - Indonesia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- VISA Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Bulk Trading Sa - Switzerland
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Bhushan Steel Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- SN Aboitiz Power Inc, Philippines
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- AsiaOL BioFuels Corp., Philippines
- Coalindo Energy - Indonesia
- Sindya Power Generating Company Private Ltd
- Larsen & Toubro Limited - India
- Cigading International Bulk Terminal - Indonesia
- Sojitz Corporation - Japan
- Timah Investasi Mineral - Indoneisa
- LBH Netherlands Bv - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Economic Council, Georgia
- Kartika Selabumi Mining - Indonesia
- PTC India Limited - India
- Power Finance Corporation Ltd., India
- McConnell Dowell - Australia
- Tata Chemicals Ltd - India
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Jorong Barutama Greston.PT - Indonesia
- Borneo Indobara - Indonesia
- Attock Cement Pakistan Limited
- Holcim Trading Pte Ltd - Singapore
- Bhoruka Overseas - Indonesia
- ICICI Bank Limited - India
- Commonwealth Bank - Australia
- Anglo American - United Kingdom
- Mercator Lines Limited - India
- Bhatia International Limited - India
- India Bulls Power Limited - India
- Price Waterhouse Coopers - Russia
- Vijayanagar Sugar Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Sarangani Energy Corporation, Philippines
- Standard Chartered Bank - UAE
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- GVK Power & Infra Limited - India
- Karbindo Abesyapradhi - Indoneisa
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Dalmia Cement Bharat India
- Sakthi Sugars Limited - India
- Therma Luzon, Inc, Philippines
- Deloitte Consulting - India
- Global Coal Blending Company Limited - Australia
- Ceylon Electricity Board - Sri Lanka
- White Energy Company Limited
- Thiess Contractors Indonesia
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