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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, 07 March 12
3RD MOZAMBIQUE COAL CONFERENCE
3rd Mozambique Coal Conference
2-4 July 2012 | Joaquim Chissano International Conference Centre , Maputo, Mozambique
http://www.immevents.com/mo ...
Wednesday, 07 March 12
DRY BULK MARKET KEEPS UP TIMID REBOUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept its rising momentum yesterday, rising for the eighth straight session, on the back of renewed demand for smaller bulk c ...
Wednesday, 07 March 12
BUKIT ASAM EYES 39% RISE IN COAL SALES - INSIDER STORIES
Insider Stories reported that, PT Bukit Asam Tbk is scouting a 39% increase in coal sales volume to 18.66 million tons this year from last year with ...
Wednesday, 07 March 12
PETROSEA SEALS US$188 MIO CONTRACT - INSIDER STORIES
Insider Stories reported that, coal mining contractor PT Petrosea Tbk has secured a US$188 million additional contract from its affiliated firm PT S ...
Monday, 05 March 12
SOUTHGOBI ANNOUNCES AGREEMENT TO SELL ITS THERMAL COAL TSAGAAN TOLGOI DEPOSIT FOR US$ 30 MILLION
SouthGobi Resources Ltd. (TSX: SGQ, HK: 1878) announced today an agreement to sell its thermal coal property, the Tsagaan Tolgoi Deposit to Modun Re ...
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- Economic Council, Georgia
- Leighton Contractors Pty Ltd - Australia
- Meenaskhi Energy Private Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- Sindya Power Generating Company Private Ltd
- Global Coal Blending Company Limited - Australia
- Sinarmas Energy and Mining - Indonesia
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- Altura Mining Limited, Indonesia
- Rio Tinto Coal - Australia
- PetroVietnam Power Coal Import and Supply Company
- Petrochimia International Co. Ltd.- Taiwan
- Makarim & Taira - Indonesia
- Price Waterhouse Coopers - Russia
- Star Paper Mills Limited - India
- Merrill Lynch Commodities Europe
- Cigading International Bulk Terminal - Indonesia
- Siam City Cement PLC, Thailand
- Toyota Tsusho Corporation, Japan
- Oldendorff Carriers - Singapore
- Billiton Holdings Pty Ltd - Australia
- Indika Energy - Indonesia
- Heidelberg Cement - Germany
- Gujarat Electricity Regulatory Commission - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- London Commodity Brokers - England
- Central Java Power - Indonesia
- CNBM International Corporation - China
- Directorate General of MIneral and Coal - Indonesia
- Thiess Contractors Indonesia
- Ministry of Transport, Egypt
- Bhatia International Limited - India
- Chamber of Mines of South Africa
- The Treasury - Australian Government
- Port Waratah Coal Services - Australia
- Tata Chemicals Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Antam Resourcindo - Indonesia
- Borneo Indobara - Indonesia
- Globalindo Alam Lestari - Indonesia
- Planning Commission, India
- Sakthi Sugars Limited - India
- New Zealand Coal & Carbon
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- Electricity Authority, New Zealand
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Coal and Oil Company - UAE
- Goldman Sachs - Singapore
- Trasteel International SA, Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Salva Resources Pvt Ltd - India
- Kepco SPC Power Corporation, Philippines
- Energy Link Ltd, New Zealand
- Kideco Jaya Agung - Indonesia
- Pendopo Energi Batubara - Indonesia
- Kaltim Prima Coal - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sojitz Corporation - Japan
- Iligan Light & Power Inc, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Mjunction Services Limited - India
- Alfred C Toepfer International GmbH - Germany
- TNB Fuel Sdn Bhd - Malaysia
- Attock Cement Pakistan Limited
- Carbofer General Trading SA - India
- Karaikal Port Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Bayan Resources Tbk. - Indonesia
- Coastal Gujarat Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- GAC Shipping (India) Pvt Ltd
- Larsen & Toubro Limited - India
- Minerals Council of Australia
- Straits Asia Resources Limited - Singapore
- Energy Development Corp, Philippines
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Georgia Ports Authority, United States
- Electricity Generating Authority of Thailand
- ICICI Bank Limited - India
- Indogreen Group - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Essar Steel Hazira Ltd - India
- Edison Trading Spa - Italy
- Madhucon Powers Ltd - India
- Agrawal Coal Company - India
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Orica Australia Pty. Ltd.
- Jaiprakash Power Ventures ltd
- Kobexindo Tractors - Indoneisa
- Kartika Selabumi Mining - Indonesia
- TeaM Sual Corporation - Philippines
- Parliament of New Zealand
- Marubeni Corporation - India
- Therma Luzon, Inc, Philippines
- IHS Mccloskey Coal Group - USA
- Coalindo Energy - Indonesia
- Grasim Industreis Ltd - India
- Africa Commodities Group - South Africa
- European Bulk Services B.V. - Netherlands
- Indonesian Coal Mining Association
- Renaissance Capital - South Africa
- Jorong Barutama Greston.PT - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Barasentosa Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- VISA Power Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Finance - Indonesia
- The University of Queensland
- Sical Logistics Limited - India
- Indian Energy Exchange, India
- Mintek Dendrill Indonesia
- Bangladesh Power Developement Board
- Tamil Nadu electricity Board
- Commonwealth Bank - Australia
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- South Luzon Thermal Energy Corporation
- PowerSource Philippines DevCo
- ASAPP Information Group - India
- AsiaOL BioFuels Corp., Philippines
- Uttam Galva Steels Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Eastern Coal Council - USA
- Parry Sugars Refinery, India
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Deloitte Consulting - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- Bhushan Steel Limited - India
- The State Trading Corporation of India Ltd
- Formosa Plastics Group - Taiwan
- Sarangani Energy Corporation, Philippines
- Australian Commodity Traders Exchange
- PTC India Limited - India
- OPG Power Generation Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- Manunggal Multi Energi - Indonesia
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Lanco Infratech Ltd - India
- IEA Clean Coal Centre - UK
- White Energy Company Limited
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Aboitiz Power Corporation - Philippines
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Maharashtra Electricity Regulatory Commission - India
- Australian Coal Association
- Banpu Public Company Limited - Thailand
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Global Business Power Corporation, Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Petron Corporation, Philippines
- Baramulti Group, Indonesia
- Bukit Makmur.PT - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Semirara Mining Corp, Philippines
- India Bulls Power Limited - India
- Cement Manufacturers Association - India
- Krishnapatnam Port Company Ltd. - India
- Vizag Seaport Private Limited - India
- Mercator Lines Limited - India
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Chettinad Cement Corporation Ltd - India
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Samtan Co., Ltd - South Korea
- Indian Oil Corporation Limited
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- Riau Bara Harum - Indonesia
- Simpson Spence & Young - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- GVK Power & Infra Limited - India
- Thai Mozambique Logistica
- Global Green Power PLC Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- Wilmar Investment Holdings
- Binh Thuan Hamico - Vietnam
- Anglo American - United Kingdom
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Standard Chartered Bank - UAE
- Interocean Group of Companies - India
- Videocon Industries ltd - India
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