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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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Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining ...
Friday, 18 May 12
KOREA EAST WEST POWER LOOKING FOR TOTAL 2.6 MILLION TONS OF 4600 NAR COAL AT FIXED PRICE FOR 5 YEARS
COALspot.com - Korea East West Power Co., Ltd is inviting bids to supply of 520,000 Metric Tons (per annum) of minimum 4,600 kcal/kg coal of N ...
Friday, 18 May 12
NICKEL ORE CARGOES ARE NOT SEEN IN MARKET ANYMORE DUE TO ON-GOING INDONESIAN BAN - FEARNLEYS AS
Handy
The market remained variable.
Fronthaul voyages both from Baltic and Black Sea paid over USD 18k/day. From USG to Cont tonnage would get ...
Thursday, 17 May 12
COAL MINERS OPPOSE EXPORT TAX, SUGGEST OUTPUT QUOTA - THE JAKARTA POST
The Jakarta Post reported that, coal miners have suggested that the government apply a production quota instead of implementing an export tax in ord ...
Thursday, 17 May 12
DRY BULK MARKET STILL LOOKING FOR NEW DIRECTION - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on moving sideways during this week, with the mixed performance across all segments. Yesterday, the industry’s be ...
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- Sarangani Energy Corporation, Philippines
- ICICI Bank Limited - India
- Ceylon Electricity Board - Sri Lanka
- Edison Trading Spa - Italy
- Rashtriya Ispat Nigam Limited - India
- Alfred C Toepfer International GmbH - Germany
- Ministry of Mines - Canada
- Deloitte Consulting - India
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- SMG Consultants - Indonesia
- Madhucon Powers Ltd - India
- VISA Power Limited - India
- Banpu Public Company Limited - Thailand
- Kobexindo Tractors - Indoneisa
- Xindia Steels Limited - India
- Miang Besar Coal Terminal - Indonesia
- Formosa Plastics Group - Taiwan
- PNOC Exploration Corporation - Philippines
- Energy Link Ltd, New Zealand
- Heidelberg Cement - Germany
- Samtan Co., Ltd - South Korea
- Salva Resources Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Independent Power Producers Association of India
- Billiton Holdings Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kepco SPC Power Corporation, Philippines
- Parliament of New Zealand
- Australian Commodity Traders Exchange
- Goldman Sachs - Singapore
- Medco Energi Mining Internasional
- San Jose City I Power Corp, Philippines
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- Indo Tambangraya Megah - Indonesia
- Aboitiz Power Corporation - Philippines
- Chamber of Mines of South Africa
- India Bulls Power Limited - India
- Economic Council, Georgia
- IHS Mccloskey Coal Group - USA
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Petron Corporation, Philippines
- Thai Mozambique Logistica
- Central Electricity Authority - India
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Globalindo Alam Lestari - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Latin American Coal - Colombia
- Orica Australia Pty. Ltd.
- GMR Energy Limited - India
- Gujarat Sidhee Cement - India
- Bulk Trading Sa - Switzerland
- Central Java Power - Indonesia
- Intertek Mineral Services - Indonesia
- London Commodity Brokers - England
- Neyveli Lignite Corporation Ltd, - India
- Interocean Group of Companies - India
- Lanco Infratech Ltd - India
- Global Business Power Corporation, Philippines
- GAC Shipping (India) Pvt Ltd
- Indika Energy - Indonesia
- Singapore Mercantile Exchange
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Electricity Generating Authority of Thailand
- Bukit Baiduri Energy - Indonesia
- PowerSource Philippines DevCo
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Ind-Barath Power Infra Limited - India
- South Luzon Thermal Energy Corporation
- Carbofer General Trading SA - India
- Cigading International Bulk Terminal - Indonesia
- Star Paper Mills Limited - India
- Indogreen Group - Indonesia
- Essar Steel Hazira Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Energy Development Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Bhushan Steel Limited - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- Eastern Coal Council - USA
- Gujarat Mineral Development Corp Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Bhoruka Overseas - Indonesia
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Commonwealth Bank - Australia
- Simpson Spence & Young - Indonesia
- MS Steel International - UAE
- Borneo Indobara - Indonesia
- Rio Tinto Coal - Australia
- Standard Chartered Bank - UAE
- Videocon Industries ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Metalloyd Limited - United Kingdom
- McConnell Dowell - Australia
- Wood Mackenzie - Singapore
- Kumho Petrochemical, South Korea
- Georgia Ports Authority, United States
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- GN Power Mariveles Coal Plant, Philippines
- Africa Commodities Group - South Africa
- SN Aboitiz Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Merrill Lynch Commodities Europe
- Tata Chemicals Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Price Waterhouse Coopers - Russia
- Coal and Oil Company - UAE
- LBH Netherlands Bv - Netherlands
- Renaissance Capital - South Africa
- Bharathi Cement Corporation - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- New Zealand Coal & Carbon
- TeaM Sual Corporation - Philippines
- Gujarat Electricity Regulatory Commission - India
- Ambuja Cements Ltd - India
- Leighton Contractors Pty Ltd - Australia
- ASAPP Information Group - India
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Bhatia International Limited - India
- Agrawal Coal Company - India
- Karaikal Port Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Eastern Energy - Thailand
- Thiess Contractors Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Wilmar Investment Holdings
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Indonesian Coal Mining Association
- Romanian Commodities Exchange
- Australian Coal Association
- Bank of Tokyo Mitsubishi UFJ Ltd
- Aditya Birla Group - India
- Dalmia Cement Bharat India
- Tamil Nadu electricity Board
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Orica Mining Services - Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Bayan Resources Tbk. - Indonesia
- IEA Clean Coal Centre - UK
- Anglo American - United Kingdom
- European Bulk Services B.V. - Netherlands
- Therma Luzon, Inc, Philippines
- Malabar Cements Ltd - India
- Planning Commission, India
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Chettinad Cement Corporation Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kartika Selabumi Mining - Indonesia
- Global Coal Blending Company Limited - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Kaltim Prima Coal - Indonesia
- Vedanta Resources Plc - India
- The Treasury - Australian Government
- Jorong Barutama Greston.PT - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Cement Manufacturers Association - India
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Binh Thuan Hamico - Vietnam
- Semirara Mining Corp, Philippines
- White Energy Company Limited
- Sinarmas Energy and Mining - Indonesia
- International Coal Ventures Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Indian Energy Exchange, India
- Kideco Jaya Agung - Indonesia
- PTC India Limited - India
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Sindya Power Generating Company Private Ltd
- CNBM International Corporation - China
- SMC Global Power, Philippines
- Siam City Cement - Thailand
- The University of Queensland
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Grasim Industreis Ltd - India
- Mjunction Services Limited - India
- OPG Power Generation Pvt Ltd - India
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