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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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Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
Sunday, 29 April 12
THE FREIGHT MARKET EXPECTED TO BE STEADY NEXT WEEK - VISTAAR
COALspot.com - The BDI continued to go up with the support of Panamax/Supramax and was up by 8.34 pct closing at 1,156 points.
The cape index was ...
Sunday, 29 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS FOR MAY 2012 DELIVERY WAS STABLE THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps for May deliveries stable this week, according to DSP of SGX AsiaClear OTC Coal Swaps. In the me ...
Friday, 27 April 12
BUKIT ASAMS NET INCOME UP 14% IN 1Q 2012 (UNAUDITED)
Press Release - PT Bukit Asam (Persero) Tbk, announced the Consolidated Financial Statements and Subsidiaries per 31 March 2012 (Unaudited).
Reve ...
Thursday, 26 April 12
AUSTRALIAS COKAL EXPANDS MET COAL POTENTIAL INTO WEST KALIMANTAN
COALspot.com - Global metallurgical coal group Cokal Limited (Cokal) (ASX:CKA) announced today it has completed the acquisition of 75.2% of PT Silan ...
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- International Coal Ventures Pvt Ltd - India
- Madhucon Powers Ltd - India
- Karaikal Port Pvt Ltd - India
- Australian Commodity Traders Exchange
- Mercator Lines Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Baramulti Group, Indonesia
- Sical Logistics Limited - India
- Uttam Galva Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Leighton Contractors Pty Ltd - Australia
- Price Waterhouse Coopers - Russia
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Mintek Dendrill Indonesia
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Parliament of New Zealand
- Savvy Resources Ltd - HongKong
- The State Trading Corporation of India Ltd
- Samtan Co., Ltd - South Korea
- Medco Energi Mining Internasional
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Star Paper Mills Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- MS Steel International - UAE
- CIMB Investment Bank - Malaysia
- Essar Steel Hazira Ltd - India
- Global Business Power Corporation, Philippines
- Mjunction Services Limited - India
- San Jose City I Power Corp, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Wood Mackenzie - Singapore
- CNBM International Corporation - China
- Jaiprakash Power Ventures ltd
- McConnell Dowell - Australia
- AsiaOL BioFuels Corp., Philippines
- Central Electricity Authority - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Larsen & Toubro Limited - India
- Renaissance Capital - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Banpu Public Company Limited - Thailand
- Tata Chemicals Ltd - India
- Minerals Council of Australia
- Wilmar Investment Holdings
- Georgia Ports Authority, United States
- Bank of Tokyo Mitsubishi UFJ Ltd
- New Zealand Coal & Carbon
- Anglo American - United Kingdom
- Antam Resourcindo - Indonesia
- PNOC Exploration Corporation - Philippines
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Coal and Oil Company - UAE
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Jindal Steel & Power Ltd - India
- Kumho Petrochemical, South Korea
- The University of Queensland
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Directorate Of Revenue Intelligence - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Orica Australia Pty. Ltd.
- Gujarat Electricity Regulatory Commission - India
- Rio Tinto Coal - Australia
- Pendopo Energi Batubara - Indonesia
- Trasteel International SA, Italy
- Gujarat Mineral Development Corp Ltd - India
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Kobexindo Tractors - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- ICICI Bank Limited - India
- Singapore Mercantile Exchange
- Ministry of Finance - Indonesia
- Kaltim Prima Coal - Indonesia
- Straits Asia Resources Limited - Singapore
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Meenaskhi Energy Private Limited - India
- Sarangani Energy Corporation, Philippines
- Siam City Cement PLC, Thailand
- GVK Power & Infra Limited - India
- SMC Global Power, Philippines
- Intertek Mineral Services - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Parry Sugars Refinery, India
- Xindia Steels Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- Binh Thuan Hamico - Vietnam
- Therma Luzon, Inc, Philippines
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Timah Investasi Mineral - Indoneisa
- Petrochimia International Co. Ltd.- Taiwan
- Barasentosa Lestari - Indonesia
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Simpson Spence & Young - Indonesia
- Iligan Light & Power Inc, Philippines
- Orica Mining Services - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Economic Council, Georgia
- Australian Coal Association
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Vedanta Resources Plc - India
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bhoruka Overseas - Indonesia
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Bukit Makmur.PT - Indonesia
- Ind-Barath Power Infra Limited - India
- Central Java Power - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Altura Mining Limited, Indonesia
- Semirara Mining and Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Malabar Cements Ltd - India
- Videocon Industries ltd - India
- Petron Corporation, Philippines
- Cement Manufacturers Association - India
- Interocean Group of Companies - India
- Manunggal Multi Energi - Indonesia
- Lanco Infratech Ltd - India
- Chamber of Mines of South Africa
- Eastern Coal Council - USA
- Bulk Trading Sa - Switzerland
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- Africa Commodities Group - South Africa
- Sakthi Sugars Limited - India
- Global Green Power PLC Corporation, Philippines
- Marubeni Corporation - India
- Thiess Contractors Indonesia
- IHS Mccloskey Coal Group - USA
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Thai Mozambique Logistica
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- South Luzon Thermal Energy Corporation
- Riau Bara Harum - Indonesia
- Holcim Trading Pte Ltd - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Coalindo Energy - Indonesia
- Power Finance Corporation Ltd., India
- Mercuria Energy - Indonesia
- Agrawal Coal Company - India
- Kideco Jaya Agung - Indonesia
- Sree Jayajothi Cements Limited - India
- PowerSource Philippines DevCo
- Indian Oil Corporation Limited
- Vizag Seaport Private Limited - India
- Deloitte Consulting - India
- Grasim Industreis Ltd - India
- Bangladesh Power Developement Board
- Bahari Cakrawala Sebuku - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Bhatia International Limited - India
- Posco Energy - South Korea
- Electricity Authority, New Zealand
- Metalloyd Limited - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Energy Link Ltd, New Zealand
- Bayan Resources Tbk. - Indonesia
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- GAC Shipping (India) Pvt Ltd
- Sindya Power Generating Company Private Ltd
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Carbofer General Trading SA - India
- Energy Development Corp, Philippines
- GMR Energy Limited - India
- European Bulk Services B.V. - Netherlands
- Ministry of Mines - Canada
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Salva Resources Pvt Ltd - India
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Asam (Persero) Tbk - Indonesia
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Global Coal Blending Company Limited - Australia
- India Bulls Power Limited - India
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
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