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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, 26 April 12
PANAMAXES AGAIN EARN MORE THAN CAPESIZES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The latest surge of demand for Panamaxes has led the dry bulk market to new higher ground on Monday, with the Baltic Dry Index (BDI) reaching 1,090 ...
Wednesday, 25 April 12
CHINA IMPORTS 9.76 MMT AND INDIA IMPORTS 7.03 MMT OF INDONESIAN COAL LAST MONTH
COALspot.com: Indonesia, the world largest coal exporter, shipped 30.64* million tons of coal in March 2012, compared to 27.12* million tons i ...
Monday, 23 April 12
ALTURA ENTERS INTO AGREEMENT TO ACQUIRE 2 COAL PROJECTS IN SOUTH KALIMANTAN
COALspot.com - Altura Mining Limited (ASX: AJM) has announced that it has entered into an agreement to acquire a further two (2) Mining Permits (IUP ...
Sunday, 22 April 12
THE FREIGHT MARKET EXPECTED TO REMAIN FIRM NEXT WEEK - VISTAAR
COALspot.com - The BDI has broken the psychological barrier of 1000 points and closed at 1067 points.
The cape index was slightly down by 2.48 pc ...
Saturday, 21 April 12
INDONESIAN SUB-BITUMINOUS COAL SWAPS DROP 2.61 PERCENT THIS WEEK
COALspot.com - Indonesian sub-bituminous coal swaps fell for a fifth day, according to DSP of SGX AsiaClear OTC Coal Swaps.
CFR South China Coal ...
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- AsiaOL BioFuels Corp., Philippines
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- White Energy Company Limited
- Central Java Power - Indonesia
- Iligan Light & Power Inc, Philippines
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Madhucon Powers Ltd - India
- The University of Queensland
- Africa Commodities Group - South Africa
- Star Paper Mills Limited - India
- ICICI Bank Limited - India
- Bayan Resources Tbk. - Indonesia
- Parliament of New Zealand
- Asmin Koalindo Tuhup - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Timah Investasi Mineral - Indoneisa
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Independent Power Producers Association of India
- Eastern Energy - Thailand
- Globalindo Alam Lestari - Indonesia
- Global Business Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Trasteel International SA, Italy
- Australian Coal Association
- Siam City Cement - Thailand
- Intertek Mineral Services - Indonesia
- Energy Development Corp, Philippines
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- Bhushan Steel Limited - India
- Port Waratah Coal Services - Australia
- Interocean Group of Companies - India
- Therma Luzon, Inc, Philippines
- Bulk Trading Sa - Switzerland
- Global Coal Blending Company Limited - Australia
- Wood Mackenzie - Singapore
- Karaikal Port Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Kideco Jaya Agung - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Chettinad Cement Corporation Ltd - India
- Price Waterhouse Coopers - Russia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Maheswari Brothers Coal Limited - India
- Savvy Resources Ltd - HongKong
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Bhatia International Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Ambuja Cements Ltd - India
- Xindia Steels Limited - India
- Binh Thuan Hamico - Vietnam
- Bahari Cakrawala Sebuku - Indonesia
- Malabar Cements Ltd - India
- Goldman Sachs - Singapore
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Coal and Oil Company - UAE
- Grasim Industreis Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- CNBM International Corporation - China
- Mercator Lines Limited - India
- Sakthi Sugars Limited - India
- South Luzon Thermal Energy Corporation
- Kumho Petrochemical, South Korea
- Karbindo Abesyapradhi - Indoneisa
- Kaltim Prima Coal - Indonesia
- Electricity Generating Authority of Thailand
- GVK Power & Infra Limited - India
- SN Aboitiz Power Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Directorate General of MIneral and Coal - Indonesia
- Cement Manufacturers Association - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mjunction Services Limited - India
- Borneo Indobara - Indonesia
- Indika Energy - Indonesia
- Anglo American - United Kingdom
- Billiton Holdings Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- IEA Clean Coal Centre - UK
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- Manunggal Multi Energi - Indonesia
- Posco Energy - South Korea
- ASAPP Information Group - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- European Bulk Services B.V. - Netherlands
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Power Finance Corporation Ltd., India
- Gujarat Sidhee Cement - India
- Samtan Co., Ltd - South Korea
- London Commodity Brokers - England
- Aboitiz Power Corporation - Philippines
- Tamil Nadu electricity Board
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- McConnell Dowell - Australia
- Central Electricity Authority - India
- Energy Link Ltd, New Zealand
- Merrill Lynch Commodities Europe
- Sinarmas Energy and Mining - Indonesia
- Pendopo Energi Batubara - Indonesia
- Metalloyd Limited - United Kingdom
- Eastern Coal Council - USA
- Indogreen Group - Indonesia
- Salva Resources Pvt Ltd - India
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Carbofer General Trading SA - India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Rashtriya Ispat Nigam Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Heidelberg Cement - Germany
- Sindya Power Generating Company Private Ltd
- Marubeni Corporation - India
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- San Jose City I Power Corp, Philippines
- Bukit Baiduri Energy - Indonesia
- Coastal Gujarat Power Limited - India
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- GAC Shipping (India) Pvt Ltd
- Commonwealth Bank - Australia
- Straits Asia Resources Limited - Singapore
- Kepco SPC Power Corporation, Philippines
- Bharathi Cement Corporation - India
- Romanian Commodities Exchange
- Makarim & Taira - Indonesia
- Thiess Contractors Indonesia
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Ministry of Transport, Egypt
- Indian Oil Corporation Limited
- Formosa Plastics Group - Taiwan
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Bukit Makmur.PT - Indonesia
- Attock Cement Pakistan Limited
- International Coal Ventures Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Kapuas Tunggal Persada - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Thai Mozambique Logistica
- Toyota Tsusho Corporation, Japan
- Semirara Mining and Power Corporation, Philippines
- Dalmia Cement Bharat India
- Agrawal Coal Company - India
- LBH Netherlands Bv - Netherlands
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Georgia Ports Authority, United States
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- New Zealand Coal & Carbon
- The Treasury - Australian Government
- Lanco Infratech Ltd - India
- Larsen & Toubro Limited - India
- VISA Power Limited - India
- Global Green Power PLC Corporation, Philippines
- Australian Commodity Traders Exchange
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- Pipit Mutiara Jaya. PT, Indonesia
- OPG Power Generation Pvt Ltd - India
- Deloitte Consulting - India
- Kohat Cement Company Ltd. - Pakistan
- Wilmar Investment Holdings
- Bhoruka Overseas - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Directorate Of Revenue Intelligence - India
- Economic Council, Georgia
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