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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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Thursday, 06 October 11
SOUTH EAST ASIAS AGGRESSIVE POWER DEMAND GROWTH WILL REQUIRE INVESTMENT OF US$125 BN BY 2020 - WOOD MACKENZIE
COALspot.com - Wood Mackenzie says that South East Asia’s demand growth for new power generation is so aggressive that new power generation in ...
Thursday, 06 October 11
CHINESE DEMAND FOR COAL IMPORTS TO MODERATE IN 2012 - MISWIN MAHESH
COALspot.com - We expect Chinese demand growth for imported steam coal to moderate over the next year. Steam coal imports into China will modera ...
Wednesday, 05 October 11
MINISTRY STICKING TO RAW COMMODITY EXPORT BAN DESPITE INDUSTRY FEARS - JG
The Jakarta Globe, the one of the leading English news paper in Indonesia, reported that, the details of a controversial new regulation that would b ...
Wednesday, 05 October 11
ATLANTIC AND PACIFIC BASINS BECAME TIGHTER FOR PANAMAX LAST WEEK - BRS
A slump for both the Capes and Panamaxes sent the BDI down 1% this week, falling to 1,899 points.
The Capes saw the greatest movement, sliding - ...
Wednesday, 05 October 11
WITH CHINA ON HOLIDAY, DRY BULK MARKET REMAINS STAGNANT - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has remained to healthy levels after last month’s rally, but with China going on holiday this week, things are looking sta ...
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- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Parry Sugars Refinery, India
- Bhatia International Limited - India
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Ministry of Mines - Canada
- Attock Cement Pakistan Limited
- Kumho Petrochemical, South Korea
- Indonesian Coal Mining Association
- Simpson Spence & Young - Indonesia
- Eastern Energy - Thailand
- Goldman Sachs - Singapore
- Bukit Baiduri Energy - Indonesia
- Standard Chartered Bank - UAE
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Riau Bara Harum - Indonesia
- Chamber of Mines of South Africa
- Sarangani Energy Corporation, Philippines
- Eastern Coal Council - USA
- SMG Consultants - Indonesia
- Energy Development Corp, Philippines
- Edison Trading Spa - Italy
- Coal and Oil Company - UAE
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Therma Luzon, Inc, Philippines
- Mintek Dendrill Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Minerals Council of Australia
- Dalmia Cement Bharat India
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Bayan Resources Tbk. - Indonesia
- Metalloyd Limited - United Kingdom
- Kalimantan Lumbung Energi - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Kobexindo Tractors - Indoneisa
- Kaltim Prima Coal - Indonesia
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Bangladesh Power Developement Board
- Mjunction Services Limited - India
- Videocon Industries ltd - India
- Essar Steel Hazira Ltd - India
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Holcim Trading Pte Ltd - Singapore
- Sojitz Corporation - Japan
- European Bulk Services B.V. - Netherlands
- Mercuria Energy - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Indian Oil Corporation Limited
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Altura Mining Limited, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Economic Council, Georgia
- Karaikal Port Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Commonwealth Bank - Australia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Globalindo Alam Lestari - Indonesia
- Malabar Cements Ltd - India
- Australian Commodity Traders Exchange
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Jaiprakash Power Ventures ltd
- Directorate Of Revenue Intelligence - India
- ASAPP Information Group - India
- Binh Thuan Hamico - Vietnam
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Planning Commission, India
- Romanian Commodities Exchange
- Latin American Coal - Colombia
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Australian Coal Association
- Oldendorff Carriers - Singapore
- International Coal Ventures Pvt Ltd - India
- Sical Logistics Limited - India
- Ambuja Cements Ltd - India
- India Bulls Power Limited - India
- Aditya Birla Group - India
- Directorate General of MIneral and Coal - Indonesia
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Price Waterhouse Coopers - Russia
- Thiess Contractors Indonesia
- Timah Investasi Mineral - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Interocean Group of Companies - India
- Meralco Power Generation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Georgia Ports Authority, United States
- Global Green Power PLC Corporation, Philippines
- Wood Mackenzie - Singapore
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Medco Energi Mining Internasional
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Xindia Steels Limited - India
- Meenaskhi Energy Private Limited - India
- Billiton Holdings Pty Ltd - Australia
- Global Business Power Corporation, Philippines
- Formosa Plastics Group - Taiwan
- PTC India Limited - India
- Mercator Lines Limited - India
- Jindal Steel & Power Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Kapuas Tunggal Persada - Indonesia
- San Jose City I Power Corp, Philippines
- TeaM Sual Corporation - Philippines
- MS Steel International - UAE
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- Rio Tinto Coal - Australia
- Tamil Nadu electricity Board
- GN Power Mariveles Coal Plant, Philippines
- Baramulti Group, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Bhoruka Overseas - Indonesia
- GMR Energy Limited - India
- Trasteel International SA, Italy
- Borneo Indobara - Indonesia
- Indo Tambangraya Megah - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- CIMB Investment Bank - Malaysia
- Ind-Barath Power Infra Limited - India
- Singapore Mercantile Exchange
- Thai Mozambique Logistica
- SMC Global Power, Philippines
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Ceylon Electricity Board - Sri Lanka
- Merrill Lynch Commodities Europe
- Vijayanagar Sugar Pvt Ltd - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- Makarim & Taira - Indonesia
- Barasentosa Lestari - Indonesia
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- IEA Clean Coal Centre - UK
- Karbindo Abesyapradhi - Indoneisa
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Energy Link Ltd, New Zealand
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Power Finance Corporation Ltd., India
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- GVK Power & Infra Limited - India
- PNOC Exploration Corporation - Philippines
- Siam City Cement PLC, Thailand
- Larsen & Toubro Limited - India
- ICICI Bank Limited - India
- Samtan Co., Ltd - South Korea
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- CNBM International Corporation - China
- Coalindo Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Petrochimia International Co. Ltd.- Taiwan
- PowerSource Philippines DevCo
- Renaissance Capital - South Africa
- Miang Besar Coal Terminal - Indonesia
- Cement Manufacturers Association - India
- Bukit Makmur.PT - Indonesia
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Lanco Infratech Ltd - India
- Wilmar Investment Holdings
- Deloitte Consulting - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Orica Australia Pty. Ltd.
- Central Electricity Authority - India
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Anglo American - United Kingdom
- Alfred C Toepfer International GmbH - Germany
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