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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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Wednesday, 14 March 12
GLOBAL THERMAL TRADE FLOW CHANGES WILL ENSURE SECURITY OF THERMAL COAL SUPPLY, ALBEIT AT A HIGH PRICE - WOOD MACKENZIE
Wood Mackenzie Says Global Thermal Trade Flow Changes Will Ensure Security of Thermal Coal Supply, Albeit At a High Price Seaborne thermal demand by ...
Wednesday, 14 March 12
COKAL TAKES ANOTHER STEP IN DEVELOPING INFRASTRUCTURE TO FACILITATE METALLURGICAL COAL PRODUCTION
Global coal group, Cokal Limited (ASX-CKA), has signed Memorandums of Understanding (MoU’s) to develop two river ports and two small scale coa ...
Tuesday, 13 March 12
CLARIFICATION OF GR 24 OF 2012 REQUIRING DIVESTMENT OF FOREIGN OWNERSHIP OVER TIME
ASX Announcement
Global metallurgical coal group, Cokal Limited (ASX-CKA), is responding to the recent announcement of the Indonesian Ministry of ...
Tuesday, 13 March 12
EUROPEAN COAL CONTANGO: FURTHER STEEPNESS REQUIRED TO MAKE LARGE SCALE PHYSICAL TIME SPREAD ARBITRAGE MORE ATTRACTIVE - MISWIN MAHESH, BARCLAYS CAPITAL
COALspot.com - "With the contango between the Y+1 and M+1 ARA delivered contract now averaging above the $14/t level, there is an increasing in ...
Monday, 12 March 12
DELTA DUNIA 1M OVERBURDEN DROPS 3.1% - INSIDER STORIES
Insider Stories reported that, Indonesia's second largest coal mining contractor PT Delta Dunia Makmur Tbk (DOID) reported a 25 million bank ...
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- Coal and Oil Company - UAE
- Billiton Holdings Pty Ltd - Australia
- Gujarat Mineral Development Corp Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Sinarmas Energy and Mining - Indonesia
- OPG Power Generation Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- GN Power Mariveles Coal Plant, Philippines
- SMG Consultants - Indonesia
- GMR Energy Limited - India
- Bulk Trading Sa - Switzerland
- Therma Luzon, Inc, Philippines
- Singapore Mercantile Exchange
- Bukit Makmur.PT - Indonesia
- CNBM International Corporation - China
- Grasim Industreis Ltd - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Maharashtra Electricity Regulatory Commission - India
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Australian Commodity Traders Exchange
- TNB Fuel Sdn Bhd - Malaysia
- Baramulti Group, Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Mjunction Services Limited - India
- Indo Tambangraya Megah - Indonesia
- Aditya Birla Group - India
- Australian Coal Association
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Mercuria Energy - Indonesia
- New Zealand Coal & Carbon
- Xindia Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- Kapuas Tunggal Persada - Indonesia
- SMC Global Power, Philippines
- Coalindo Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Africa Commodities Group - South Africa
- Globalindo Alam Lestari - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Holcim Trading Pte Ltd - Singapore
- TeaM Sual Corporation - Philippines
- Edison Trading Spa - Italy
- Attock Cement Pakistan Limited
- Central Java Power - Indonesia
- Merrill Lynch Commodities Europe
- Thai Mozambique Logistica
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- The State Trading Corporation of India Ltd
- Bukit Asam (Persero) Tbk - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Meenaskhi Energy Private Limited - India
- Binh Thuan Hamico - Vietnam
- Independent Power Producers Association of India
- Electricity Authority, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- LBH Netherlands Bv - Netherlands
- Tata Chemicals Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Kobexindo Tractors - Indoneisa
- Barasentosa Lestari - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Kumho Petrochemical, South Korea
- Chettinad Cement Corporation Ltd - India
- Anglo American - United Kingdom
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Chamber of Mines of South Africa
- Sojitz Corporation - Japan
- Directorate General of MIneral and Coal - Indonesia
- PowerSource Philippines DevCo
- Orica Mining Services - Indonesia
- Energy Link Ltd, New Zealand
- Port Waratah Coal Services - Australia
- Coastal Gujarat Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- MS Steel International - UAE
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Sree Jayajothi Cements Limited - India
- Central Electricity Authority - India
- Global Green Power PLC Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- Eastern Energy - Thailand
- Renaissance Capital - South Africa
- Commonwealth Bank - Australia
- The Treasury - Australian Government
- Semirara Mining Corp, Philippines
- Indika Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Madhucon Powers Ltd - India
- IEA Clean Coal Centre - UK
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Maheswari Brothers Coal Limited - India
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Vedanta Resources Plc - India
- Medco Energi Mining Internasional
- Vizag Seaport Private Limited - India
- The University of Queensland
- Marubeni Corporation - India
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- IHS Mccloskey Coal Group - USA
- Thiess Contractors Indonesia
- Kepco SPC Power Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- AsiaOL BioFuels Corp., Philippines
- VISA Power Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bharathi Cement Corporation - India
- European Bulk Services B.V. - Netherlands
- Posco Energy - South Korea
- Price Waterhouse Coopers - Russia
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Ministry of Mines - Canada
- Ministry of Finance - Indonesia
- White Energy Company Limited
- Uttam Galva Steels Limited - India
- Sakthi Sugars Limited - India
- Global Coal Blending Company Limited - Australia
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Straits Asia Resources Limited - Singapore
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Goldman Sachs - Singapore
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Jaiprakash Power Ventures ltd
- Larsen & Toubro Limited - India
- Siam City Cement PLC, Thailand
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Mercator Lines Limited - India
- Eastern Coal Council - USA
- Parliament of New Zealand
- Wood Mackenzie - Singapore
- Cement Manufacturers Association - India
- Kartika Selabumi Mining - Indonesia
- GVK Power & Infra Limited - India
- Indonesian Coal Mining Association
- Krishnapatnam Port Company Ltd. - India
- Bangladesh Power Developement Board
- Ambuja Cements Ltd - India
- Bhushan Steel Limited - India
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Gujarat Sidhee Cement - India
- Dalmia Cement Bharat India
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- Pendopo Energi Batubara - Indonesia
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Videocon Industries ltd - India
- Parry Sugars Refinery, India
- Meralco Power Generation, Philippines
- Interocean Group of Companies - India
- Alfred C Toepfer International GmbH - Germany
- Petron Corporation, Philippines
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Borneo Indobara - Indonesia
- Energy Development Corp, Philippines
- India Bulls Power Limited - India
- Electricity Generating Authority of Thailand
- Miang Besar Coal Terminal - Indonesia
- Salva Resources Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Star Paper Mills Limited - India
- Mintek Dendrill Indonesia
- Wilmar Investment Holdings
- PTC India Limited - India
- Planning Commission, India
- Aboitiz Power Corporation - Philippines
- Directorate Of Revenue Intelligence - India
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