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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, 20 April 12
PANAMAXES LEAD DRY BULK MARKET TO HIGHER GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
A rebound of demand for smaller dry bulk carriers has led the industry’s benchmark, the BDI (Baltic Dry Index) above the 1,000-point mark for ...
Friday, 20 April 12
BUMA HAS PRODUCED 2.6 MILLION TONS OF COAL IN MARCH 2012
COALspot.com - BUMA has removed 28.0 million bcm (+6.4% YoY) of overburden in March 2012 while coal production was at 2.6 million tons (+1.3% YoY).
...
Thursday, 19 April 12
FRESH COAL SALES FROM JATENERGYS JONGKANG MINES
COALspot.com - Energy company Jatenergy Ltd (ASX code JAT) announced today that it had signed a contract for an 11,000 tonne coal sale due for shipm ...
Thursday, 19 April 12
HANDY - 'POSITIVE TREND', PANAMAX - 'A FIRMER TENDENCY', CAPESIZE - 'AGAIN NEGATIVE'
Handy
The positive trend from last week continued, with more cargoes entering the market. Skaw/Passero del fixed tick above USD 4000 for US Gulf di ...
Thursday, 19 April 12
WILLIS MARINE MARKET REVIEW FORECASTS ANOTHER DIFFICULT YEAR - WILLIS GLOBAL MARINE / HELLENIC SHIPPING
After an inauspicious start, 2012 could well be "another difficult and uncertain year for the maritime industry faced with the aftermath of the ...
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- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Semirara Mining Corp, Philippines
- McConnell Dowell - Australia
- Bharathi Cement Corporation - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Electricity Generating Authority of Thailand
- Gujarat Electricity Regulatory Commission - India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Altura Mining Limited, Indonesia
- Goldman Sachs - Singapore
- SMC Global Power, Philippines
- Aditya Birla Group - India
- PTC India Limited - India
- Agrawal Coal Company - India
- ASAPP Information Group - India
- Sakthi Sugars Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karaikal Port Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Intertek Mineral Services - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Sindya Power Generating Company Private Ltd
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Price Waterhouse Coopers - Russia
- GVK Power & Infra Limited - India
- Orica Mining Services - Indonesia
- Chamber of Mines of South Africa
- Bhatia International Limited - India
- Aboitiz Power Corporation - Philippines
- Siam City Cement - Thailand
- IEA Clean Coal Centre - UK
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- Riau Bara Harum - Indonesia
- Global Coal Blending Company Limited - Australia
- Mercator Lines Limited - India
- TeaM Sual Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Edison Trading Spa - Italy
- Indogreen Group - Indonesia
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Antam Resourcindo - Indonesia
- Economic Council, Georgia
- Indonesian Coal Mining Association
- Africa Commodities Group - South Africa
- Mjunction Services Limited - India
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Maheswari Brothers Coal Limited - India
- Commonwealth Bank - Australia
- Heidelberg Cement - Germany
- Indian Energy Exchange, India
- Parry Sugars Refinery, India
- Parliament of New Zealand
- New Zealand Coal & Carbon
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- Grasim Industreis Ltd - India
- Baramulti Group, Indonesia
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
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- Cement Manufacturers Association - India
- San Jose City I Power Corp, Philippines
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Anglo American - United Kingdom
- Pendopo Energi Batubara - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Interocean Group of Companies - India
- Larsen & Toubro Limited - India
- Global Business Power Corporation, Philippines
- Indo Tambangraya Megah - Indonesia
- Orica Australia Pty. Ltd.
- VISA Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Renaissance Capital - South Africa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Samtan Co., Ltd - South Korea
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Therma Luzon, Inc, Philippines
- MS Steel International - UAE
- Wood Mackenzie - Singapore
- Billiton Holdings Pty Ltd - Australia
- Indian Oil Corporation Limited
- PowerSource Philippines DevCo
- Toyota Tsusho Corporation, Japan
- Directorate Of Revenue Intelligence - India
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- The Treasury - Australian Government
- Attock Cement Pakistan Limited
- Bank of Tokyo Mitsubishi UFJ Ltd
- AsiaOL BioFuels Corp., Philippines
- Energy Development Corp, Philippines
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- The University of Queensland
- LBH Netherlands Bv - Netherlands
- Australian Coal Association
- Sinarmas Energy and Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Tata Chemicals Ltd - India
- Georgia Ports Authority, United States
- London Commodity Brokers - England
- Dalmia Cement Bharat India
- Meenaskhi Energy Private Limited - India
- Global Green Power PLC Corporation, Philippines
- Uttam Galva Steels Limited - India
- The State Trading Corporation of India Ltd
- Alfred C Toepfer International GmbH - Germany
- South Luzon Thermal Energy Corporation
- Salva Resources Pvt Ltd - India
- Independent Power Producers Association of India
- Kapuas Tunggal Persada - Indonesia
- Central Electricity Authority - India
- Coalindo Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- GAC Shipping (India) Pvt Ltd
- Medco Energi Mining Internasional
- Ambuja Cements Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Ministry of Mines - Canada
- GMR Energy Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Malabar Cements Ltd - India
- Ministry of Finance - Indonesia
- SN Aboitiz Power Inc, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Latin American Coal - Colombia
- Vedanta Resources Plc - India
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- Energy Link Ltd, New Zealand
- Videocon Industries ltd - India
- Kepco SPC Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Bhushan Steel Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Formosa Plastics Group - Taiwan
- Merrill Lynch Commodities Europe
- Ministry of Transport, Egypt
- Carbofer General Trading SA - India
- GN Power Mariveles Coal Plant, Philippines
- Tamil Nadu electricity Board
- Offshore Bulk Terminal Pte Ltd, Singapore
- Minerals Council of Australia
- Metalloyd Limited - United Kingdom
- Meralco Power Generation, Philippines
- Mintek Dendrill Indonesia
- Sarangani Energy Corporation, Philippines
- Krishnapatnam Port Company Ltd. - India
- Petrochimia International Co. Ltd.- Taiwan
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- European Bulk Services B.V. - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- White Energy Company Limited
- Australian Commodity Traders Exchange
- Jorong Barutama Greston.PT - Indonesia
- Bangladesh Power Developement Board
- Ceylon Electricity Board - Sri Lanka
- Romanian Commodities Exchange
- Chettinad Cement Corporation Ltd - India
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Bhoruka Overseas - Indonesia
- Jindal Steel & Power Ltd - India
- Electricity Authority, New Zealand
- Sojitz Corporation - Japan
- Planning Commission, India
- Singapore Mercantile Exchange
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Vizag Seaport Private Limited - India
- Borneo Indobara - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Bukit Makmur.PT - Indonesia
- Star Paper Mills Limited - India
- Bulk Trading Sa - Switzerland
- Indika Energy - Indonesia
- Binh Thuan Hamico - Vietnam
- Bukit Baiduri Energy - Indonesia
- Sical Logistics Limited - India
- Oldendorff Carriers - Singapore
- Petron Corporation, Philippines
- Madhucon Powers Ltd - India
- Trasteel International SA, Italy
- Marubeni Corporation - India
- Simpson Spence & Young - Indonesia
- SMG Consultants - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Straits Asia Resources Limited - Singapore
- CNBM International Corporation - China
- Coastal Gujarat Power Limited - India
- India Bulls Power Limited - India
- Eastern Coal Council - USA
- PNOC Exploration Corporation - Philippines
- Kobexindo Tractors - Indoneisa
- Power Finance Corporation Ltd., India
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