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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, 25 January 24
THE RED SEA ESCALATION IMPLICATIONS ON GLOBAL SEABORNE TRADE - MARIA BERTZELETOU
In recent days, discussions have intensified about the potential impact on the seaborne trade and ton-miles due to the evolving dynamics of market ...
Thursday, 25 January 24
RED SEA SHIPPING DISRUPTIONS KEEP GEOPOLITICAL PREMIUM FOR COMMODITIES - FITCH RATINGS
Shipping disruptions and re-routing away from the Red Sea will maintain the geopolitical premium in the main commodity markets, including for oil a ...
Friday, 19 January 24
INDONESIA TARGETS 710 MLN METRIC TONS COAL OUTPUT IN 2024 AFTER RECORD 2023 - REUTERS
Indonesia, a major thermal coal exporter, aims to produce 710 million metric tons of coal in 2024, its mining minister said on Monday, after postin ...
Friday, 19 January 24
DRUMMOND COLOMBIA COAL OUTPUT ROSE 7.1% IN 2023 - REUTERS
Coal production from miner Drummond’s Colombia operations rose 7.1% in 2023 to 29.5 million metric tons, while exports declined by 2.6% to 27 ...
Friday, 19 January 24
CHINA'S 2023 COAL OUTPUT HITS RECORD HIGH - REUTERS
China’s coal output reached a record high in 2023, data from the statistics bureau showed on Wednesday, amid an ongoing focus on energy secur ...
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- Sarangani Energy Corporation, Philippines
- Pendopo Energi Batubara - Indonesia
- The University of Queensland
- Dalmia Cement Bharat India
- VISA Power Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vedanta Resources Plc - India
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Kideco Jaya Agung - Indonesia
- Eastern Coal Council - USA
- Agrawal Coal Company - India
- Central Java Power - Indonesia
- Banpu Public Company Limited - Thailand
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- PowerSource Philippines DevCo
- Attock Cement Pakistan Limited
- Singapore Mercantile Exchange
- The State Trading Corporation of India Ltd
- Electricity Generating Authority of Thailand
- Minerals Council of Australia
- GMR Energy Limited - India
- IHS Mccloskey Coal Group - USA
- Coal and Oil Company - UAE
- Vijayanagar Sugar Pvt Ltd - India
- Makarim & Taira - Indonesia
- Miang Besar Coal Terminal - Indonesia
- The Treasury - Australian Government
- Maharashtra Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Kartika Selabumi Mining - Indonesia
- Simpson Spence & Young - Indonesia
- LBH Netherlands Bv - Netherlands
- Ministry of Finance - Indonesia
- Thiess Contractors Indonesia
- Kumho Petrochemical, South Korea
- Bhoruka Overseas - Indonesia
- Energy Development Corp, Philippines
- Leighton Contractors Pty Ltd - Australia
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- Kaltim Prima Coal - Indonesia
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Lanco Infratech Ltd - India
- OPG Power Generation Pvt Ltd - India
- Jaiprakash Power Ventures ltd
- Standard Chartered Bank - UAE
- White Energy Company Limited
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Madhucon Powers Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- PNOC Exploration Corporation - Philippines
- ICICI Bank Limited - India
- CIMB Investment Bank - Malaysia
- Kepco SPC Power Corporation, Philippines
- Baramulti Group, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bharathi Cement Corporation - India
- Medco Energi Mining Internasional
- Gujarat Electricity Regulatory Commission - India
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Independent Power Producers Association of India
- Holcim Trading Pte Ltd - Singapore
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Ministry of Mines - Canada
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Merrill Lynch Commodities Europe
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Savvy Resources Ltd - HongKong
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Samtan Co., Ltd - South Korea
- Petron Corporation, Philippines
- Sree Jayajothi Cements Limited - India
- London Commodity Brokers - England
- McConnell Dowell - Australia
- Borneo Indobara - Indonesia
- Marubeni Corporation - India
- Ambuja Cements Ltd - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining Corp, Philippines
- Siam City Cement - Thailand
- Planning Commission, India
- Goldman Sachs - Singapore
- Indogreen Group - Indonesia
- TeaM Sual Corporation - Philippines
- Videocon Industries ltd - India
- Deloitte Consulting - India
- Cigading International Bulk Terminal - Indonesia
- Thai Mozambique Logistica
- GN Power Mariveles Coal Plant, Philippines
- Australian Coal Association
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- AsiaOL BioFuels Corp., Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Essar Steel Hazira Ltd - India
- Bhushan Steel Limited - India
- Indian Energy Exchange, India
- Wood Mackenzie - Singapore
- Energy Link Ltd, New Zealand
- Metalloyd Limited - United Kingdom
- Pipit Mutiara Jaya. PT, Indonesia
- Therma Luzon, Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Sojitz Corporation - Japan
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Cement Manufacturers Association - India
- GVK Power & Infra Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Coalindo Energy - Indonesia
- PTC India Limited - India
- Electricity Authority, New Zealand
- Bangladesh Power Developement Board
- Kobexindo Tractors - Indoneisa
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Siam City Cement PLC, Thailand
- Kapuas Tunggal Persada - Indonesia
- Africa Commodities Group - South Africa
- Indonesian Coal Mining Association
- Rio Tinto Coal - Australia
- New Zealand Coal & Carbon
- Toyota Tsusho Corporation, Japan
- San Jose City I Power Corp, Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- Central Electricity Authority - India
- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
- Grasim Industreis Ltd - India
- Manunggal Multi Energi - Indonesia
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Global Green Power PLC Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Sakthi Sugars Limited - India
- Parliament of New Zealand
- Karbindo Abesyapradhi - Indoneisa
- SMC Global Power, Philippines
- MS Steel International - UAE
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Bahari Cakrawala Sebuku - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Semirara Mining and Power Corporation, Philippines
- Commonwealth Bank - Australia
- Bhatia International Limited - India
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Malabar Cements Ltd - India
- Chamber of Mines of South Africa
- Mercuria Energy - Indonesia
- ASAPP Information Group - India
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Salva Resources Pvt Ltd - India
- Georgia Ports Authority, United States
- Neyveli Lignite Corporation Ltd, - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Bukit Makmur.PT - Indonesia
- Vizag Seaport Private Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Trasteel International SA, Italy
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- European Bulk Services B.V. - Netherlands
- Ind-Barath Power Infra Limited - India
- Uttam Galva Steels Limited - India
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Sinarmas Energy and Mining - Indonesia
- Carbofer General Trading SA - India
- South Luzon Thermal Energy Corporation
- Rashtriya Ispat Nigam Limited - India
- Indian Oil Corporation Limited
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- IEA Clean Coal Centre - UK
- Bayan Resources Tbk. - Indonesia
- Renaissance Capital - South Africa
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