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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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Tuesday, 31 January 12
THERE ARE MANY GOOD REASONS FOR COAL IN GERMANY - DR CIESLIK
COALspot.com - "The year 2011 was again marked by many changes on the markets and energy policies, at times in line with expectations, but at o ...
Tuesday, 31 January 12
DRY BULK MARKET KEEPS FALLING FOR WORST MONTH IN YEARS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market didn't manage to put a halt in its downfall, with the industry's benchmark, the BDI (Baltic Dry Index), posting yet another fa ...
Monday, 30 January 12
CHINA'S HUNGER FOR COAL LEAVES DENT IN PENNSYLVANIA'S SUPPLY - THOMAS LESKIN
With the price of heating oil on the rise, one of Pennsylvania's greatest natural resources - coal - is in high demand, and not just locally.
Et ...
Saturday, 28 January 12
WILL FREIGHT MARKET STABILIZE FROM NEXT WEEK?
COALspot.com - The markets continued to soften with BDI at 663 points down by 15.78 pct closing at 726 points and cape index was down by 5.73 pct cl ...
Friday, 27 January 12
DEMOLITION ACTIVITY NEEDS TO INCREASE SIGNIFICANTLY THIS YEAR AS WELL - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The oversupply of vessels in most shipping sectors is so intense that it’s become clear to ship owners that unless they scrap as many of their ...
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- Bangladesh Power Developement Board
- Georgia Ports Authority, United States
- GN Power Mariveles Coal Plant, Philippines
- TNB Fuel Sdn Bhd - Malaysia
- Kepco SPC Power Corporation, Philippines
- Orica Australia Pty. Ltd.
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- Sree Jayajothi Cements Limited - India
- Essar Steel Hazira Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Vijayanagar Sugar Pvt Ltd - India
- Mintek Dendrill Indonesia
- Posco Energy - South Korea
- Singapore Mercantile Exchange
- Sinarmas Energy and Mining - Indonesia
- Africa Commodities Group - South Africa
- Petron Corporation, Philippines
- Central Java Power - Indonesia
- SMC Global Power, Philippines
- Formosa Plastics Group - Taiwan
- Barasentosa Lestari - Indonesia
- Meralco Power Generation, Philippines
- Cigading International Bulk Terminal - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Binh Thuan Hamico - Vietnam
- Global Business Power Corporation, Philippines
- Dalmia Cement Bharat India
- Minerals Council of Australia
- Vizag Seaport Private Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Intertek Mineral Services - Indonesia
- Baramulti Group, Indonesia
- White Energy Company Limited
- PowerSource Philippines DevCo
- Agrawal Coal Company - India
- Heidelberg Cement - Germany
- Karbindo Abesyapradhi - Indoneisa
- Oldendorff Carriers - Singapore
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- SMG Consultants - Indonesia
- Eastern Energy - Thailand
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Jaiprakash Power Ventures ltd
- Electricity Generating Authority of Thailand
- Parry Sugars Refinery, India
- Iligan Light & Power Inc, Philippines
- Maheswari Brothers Coal Limited - India
- Indo Tambangraya Megah - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Sakthi Sugars Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Latin American Coal - Colombia
- PNOC Exploration Corporation - Philippines
- Chamber of Mines of South Africa
- Indika Energy - Indonesia
- Bukit Makmur.PT - Indonesia
- Salva Resources Pvt Ltd - India
- Australian Commodity Traders Exchange
- Holcim Trading Pte Ltd - Singapore
- IHS Mccloskey Coal Group - USA
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Aboitiz Power Corporation - Philippines
- Port Waratah Coal Services - Australia
- Maharashtra Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- SN Aboitiz Power Inc, Philippines
- Interocean Group of Companies - India
- Energy Link Ltd, New Zealand
- Manunggal Multi Energi - Indonesia
- Bayan Resources Tbk. - Indonesia
- Siam City Cement PLC, Thailand
- Banpu Public Company Limited - Thailand
- Jindal Steel & Power Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Wood Mackenzie - Singapore
- Romanian Commodities Exchange
- Uttam Galva Steels Limited - India
- Attock Cement Pakistan Limited
- Semirara Mining and Power Corporation, Philippines
- Global Green Power PLC Corporation, Philippines
- Makarim & Taira - Indonesia
- Australian Coal Association
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Malabar Cements Ltd - India
- Sical Logistics Limited - India
- Mercuria Energy - Indonesia
- Merrill Lynch Commodities Europe
- PetroVietnam Power Coal Import and Supply Company
- Bulk Trading Sa - Switzerland
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- Tata Chemicals Ltd - India
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Trasteel International SA, Italy
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Sojitz Corporation - Japan
- Electricity Authority, New Zealand
- The State Trading Corporation of India Ltd
- San Jose City I Power Corp, Philippines
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- VISA Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sarangani Energy Corporation, Philippines
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- PTC India Limited - India
- Grasim Industreis Ltd - India
- Parliament of New Zealand
- Ceylon Electricity Board - Sri Lanka
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indogreen Group - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Bhatia International Limited - India
- New Zealand Coal & Carbon
- Savvy Resources Ltd - HongKong
- LBH Netherlands Bv - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Edison Trading Spa - Italy
- Ambuja Cements Ltd - India
- Kideco Jaya Agung - Indonesia
- Therma Luzon, Inc, Philippines
- Renaissance Capital - South Africa
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- CNBM International Corporation - China
- Marubeni Corporation - India
- GAC Shipping (India) Pvt Ltd
- Star Paper Mills Limited - India
- Mjunction Services Limited - India
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- Kobexindo Tractors - Indoneisa
- Sindya Power Generating Company Private Ltd
- Kumho Petrochemical, South Korea
- Krishnapatnam Port Company Ltd. - India
- Global Coal Blending Company Limited - Australia
- Larsen & Toubro Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- MS Steel International - UAE
- Bukit Baiduri Energy - Indonesia
- Orica Mining Services - Indonesia
- Central Electricity Authority - India
- ASAPP Information Group - India
- Straits Asia Resources Limited - Singapore
- Aditya Birla Group - India
- Commonwealth Bank - Australia
- South Luzon Thermal Energy Corporation
- International Coal Ventures Pvt Ltd - India
- Ministry of Transport, Egypt
- Kapuas Tunggal Persada - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Videocon Industries ltd - India
- Ind-Barath Power Infra Limited - India
- Indonesian Coal Mining Association
- AsiaOL BioFuels Corp., Philippines
- Vedanta Resources Plc - India
- Gujarat Mineral Development Corp Ltd - India
- Metalloyd Limited - United Kingdom
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- The University of Queensland
- The Treasury - Australian Government
- Ministry of Mines - Canada
- Alfred C Toepfer International GmbH - Germany
- Ministry of Finance - Indonesia
- London Commodity Brokers - England
- Semirara Mining Corp, Philippines
- Samtan Co., Ltd - South Korea
- Antam Resourcindo - Indonesia
- Wilmar Investment Holdings
- Coastal Gujarat Power Limited - India
- Altura Mining Limited, Indonesia
- Timah Investasi Mineral - Indoneisa
- Planning Commission, India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Karaikal Port Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Goldman Sachs - Singapore
- Lanco Infratech Ltd - India
- Mercator Lines Limited - India
- Leighton Contractors Pty Ltd - Australia
- Deloitte Consulting - India
- Power Finance Corporation Ltd., India
- Bhoruka Overseas - Indonesia
- India Bulls Power Limited - India
- Miang Besar Coal Terminal - Indonesia
- McConnell Dowell - Australia
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- GMR Energy Limited - India
- Toyota Tsusho Corporation, Japan
- Bhushan Steel Limited - India
- Anglo American - United Kingdom
- Indian Energy Exchange, India
- Rashtriya Ispat Nigam Limited - India
- Rio Tinto Coal - Australia
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