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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, 29 March 12
DRY BULK EDGED FURTHER UP, ON HEALTHY DEMAND FOR MOST SHIP TYPES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With capesize vessels finally reappearing in demand, the dry bulk market had an easier task of rising yesterday, as the BDI (Baltic Dry Index) reach ...
Thursday, 29 March 12
ADARO FY11 NET INCOME JUMPS 124% - INSIDER STORIES
Insider Stories reported that, PT Adaro Energy Tbk (ADRO) today announced a 124% jump in net income to US$552 million last year or US$0.017 a share. ...
Wednesday, 28 March 12
CUESTA HAS RECEIVED APPLICATIONS AND FIRM BIDS IN EXCESS OF $9 MILLION FOR THE COMPANYS IPO
COALspot.com - The Directors of Cuesta Coal Limited (ASX:CQC) have announced that today it has received applications and firm bids in excess of $9 m ...
Wednesday, 28 March 12
ORPHEUS ENERGY TO COMMENCE JORC DRILLING AT ADK PROJECT
COALspot.com - Indonesian coal explorer and producer, Orpheus Energy (ASX:OEG), have today announced that the company is about to commence a drillin ...
Tuesday, 27 March 12
DRY BULK MARKET KEEP RISING FOLLOWING THE SAME TREND OF LAST WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept its upward momentum this week, on the same reasons of those last week. That is, the smaller ship types are still on the ris ...
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- Trasteel International SA, Italy
- Georgia Ports Authority, United States
- AsiaOL BioFuels Corp., Philippines
- Indika Energy - Indonesia
- Sical Logistics Limited - India
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Globalindo Alam Lestari - Indonesia
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- SMG Consultants - Indonesia
- Baramulti Group, Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Indonesian Coal Mining Association
- Deloitte Consulting - India
- Planning Commission, India
- Minerals Council of Australia
- Larsen & Toubro Limited - India
- Mjunction Services Limited - India
- Semirara Mining and Power Corporation, Philippines
- CIMB Investment Bank - Malaysia
- Sinarmas Energy and Mining - Indonesia
- Grasim Industreis Ltd - India
- Alfred C Toepfer International GmbH - Germany
- The State Trading Corporation of India Ltd
- Medco Energi Mining Internasional
- Anglo American - United Kingdom
- Chamber of Mines of South Africa
- Cement Manufacturers Association - India
- Kalimantan Lumbung Energi - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Global Business Power Corporation, Philippines
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- White Energy Company Limited
- Essar Steel Hazira Ltd - India
- Latin American Coal - Colombia
- European Bulk Services B.V. - Netherlands
- Madhucon Powers Ltd - India
- Siam City Cement PLC, Thailand
- Asmin Koalindo Tuhup - Indonesia
- Romanian Commodities Exchange
- Thiess Contractors Indonesia
- Renaissance Capital - South Africa
- Australian Coal Association
- Electricity Authority, New Zealand
- Altura Mining Limited, Indonesia
- Global Coal Blending Company Limited - Australia
- Merrill Lynch Commodities Europe
- Tamil Nadu electricity Board
- Chettinad Cement Corporation Ltd - India
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Ambuja Cements Ltd - India
- Petron Corporation, Philippines
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Rio Tinto Coal - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Bhatia International Limited - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- ASAPP Information Group - India
- Central Electricity Authority - India
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Salva Resources Pvt Ltd - India
- The Treasury - Australian Government
- Sindya Power Generating Company Private Ltd
- Pendopo Energi Batubara - Indonesia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Straits Asia Resources Limited - Singapore
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- South Luzon Thermal Energy Corporation
- SN Aboitiz Power Inc, Philippines
- Banpu Public Company Limited - Thailand
- Cigading International Bulk Terminal - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Global Green Power PLC Corporation, Philippines
- Directorate Of Revenue Intelligence - India
- VISA Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Sakthi Sugars Limited - India
- Wood Mackenzie - Singapore
- Bukit Baiduri Energy - Indonesia
- Economic Council, Georgia
- Dalmia Cement Bharat India
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Intertek Mineral Services - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- ICICI Bank Limited - India
- Manunggal Multi Energi - Indonesia
- Borneo Indobara - Indonesia
- Aditya Birla Group - India
- Attock Cement Pakistan Limited
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Samtan Co., Ltd - South Korea
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Orica Australia Pty. Ltd.
- Goldman Sachs - Singapore
- Timah Investasi Mineral - Indoneisa
- PNOC Exploration Corporation - Philippines
- Bukit Makmur.PT - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Sojitz Corporation - Japan
- Kartika Selabumi Mining - Indonesia
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Jaiprakash Power Ventures ltd
- GMR Energy Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Tata Chemicals Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Meenaskhi Energy Private Limited - India
- London Commodity Brokers - England
- Meralco Power Generation, Philippines
- Ministry of Finance - Indonesia
- Bulk Trading Sa - Switzerland
- The University of Queensland
- Siam City Cement - Thailand
- Mercator Lines Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Vedanta Resources Plc - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Orica Mining Services - Indonesia
- Star Paper Mills Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Posco Energy - South Korea
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Ministry of Mines - Canada
- Sree Jayajothi Cements Limited - India
- Price Waterhouse Coopers - Russia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Heidelberg Cement - Germany
- Billiton Holdings Pty Ltd - Australia
- Marubeni Corporation - India
- Kideco Jaya Agung - Indonesia
- Coal and Oil Company - UAE
- Oldendorff Carriers - Singapore
- Indian Oil Corporation Limited
- Ministry of Transport, Egypt
- Singapore Mercantile Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Kohat Cement Company Ltd. - Pakistan
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Parliament of New Zealand
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Thai Mozambique Logistica
- Mercuria Energy - Indonesia
- MS Steel International - UAE
- Savvy Resources Ltd - HongKong
- Bukit Asam (Persero) Tbk - Indonesia
- San Jose City I Power Corp, Philippines
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Videocon Industries ltd - India
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Semirara Mining Corp, Philippines
- Iligan Light & Power Inc, Philippines
- Carbofer General Trading SA - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Neyveli Lignite Corporation Ltd, - India
- Africa Commodities Group - South Africa
- Coastal Gujarat Power Limited - India
- Bharathi Cement Corporation - India
- Indogreen Group - Indonesia
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Energy Link Ltd, New Zealand
- Bhushan Steel Limited - India
- Bangladesh Power Developement Board
- Gujarat Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- Independent Power Producers Association of India
- Jindal Steel & Power Ltd - India
- IHS Mccloskey Coal Group - USA
- Bayan Resources Tbk. - Indonesia
- Australian Commodity Traders Exchange
- Parry Sugars Refinery, India
- Vijayanagar Sugar Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Xindia Steels Limited - India
- Agrawal Coal Company - India
- Sarangani Energy Corporation, Philippines
- Edison Trading Spa - Italy
- Malabar Cements Ltd - India
- Central Java Power - Indonesia
- Karaikal Port Pvt Ltd - India
- Barasentosa Lestari - Indonesia
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