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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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Saturday, 24 December 11
CHINAS LEVEL OF GROWTH TO DETERMINE COURSE OF DRY BULK MARKET IN 2012 SAYS SHIPBROKER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
In its latest report, shipbroker Intermodal attempted to find a silver lining in the tough year that was 2011, as well as what one could expect from ...
Friday, 23 December 11
SPOT PACIFIC CAPESIZE VESSELS HAVE COMMANDED HIGH PREMIUMS - FEARNLEYS
Handy
Rates in the Atlantic kept stable from last week, with a touch of negativity closer to the end. Less spot cargoes seen, and owners are ...
Friday, 23 December 11
CONTENTIOUS ISSUES IN CONTRACT RENEGOTIATION - THE JAKARTA POST
The government has been renegotiating mining contracts, especially those 30-40 years old, with almost all mining companies, including PT Freeport In ...
Friday, 23 December 11
LANCO JOINS HANDS WITH BUKIT ASAM FOR INDONESIAN POWER PROJECT
COALspot.com - PT Tambang Batubara Bukit Asam, Indonesia's state owned coal miner and Indian based Lanco Infratech Ltd plans to build steam power p ...
Thursday, 22 December 11
RI WILL NOT PLAY CATCH-UP WITH GLOBAL COAL DEMAND - THE JAKARTA POST
The Jakarta Post reported that, the International Energy Agency (IEA) has predicted in its Coal Market Report 2011 that over the next five years, gl ...
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- Bukit Baiduri Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Eastern Coal Council - USA
- Economic Council, Georgia
- GMR Energy Limited - India
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Deloitte Consulting - India
- Trasteel International SA, Italy
- Salva Resources Pvt Ltd - India
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Edison Trading Spa - Italy
- Directorate Of Revenue Intelligence - India
- Planning Commission, India
- Orica Mining Services - Indonesia
- Energy Development Corp, Philippines
- Interocean Group of Companies - India
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Sical Logistics Limited - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Miang Besar Coal Terminal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wood Mackenzie - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Port Waratah Coal Services - Australia
- GAC Shipping (India) Pvt Ltd
- Madhucon Powers Ltd - India
- Minerals Council of Australia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- CIMB Investment Bank - Malaysia
- Bharathi Cement Corporation - India
- Singapore Mercantile Exchange
- Sakthi Sugars Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kobexindo Tractors - Indoneisa
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Rio Tinto Coal - Australia
- Heidelberg Cement - Germany
- McConnell Dowell - Australia
- The Treasury - Australian Government
- Semirara Mining and Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Intertek Mineral Services - Indonesia
- Jindal Steel & Power Ltd - India
- Ambuja Cements Ltd - India
- Baramulti Group, Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Posco Energy - South Korea
- Jorong Barutama Greston.PT - Indonesia
- Bulk Trading Sa - Switzerland
- Semirara Mining Corp, Philippines
- Aditya Birla Group - India
- Merrill Lynch Commodities Europe
- Makarim & Taira - Indonesia
- CNBM International Corporation - China
- Petrochimia International Co. Ltd.- Taiwan
- Central Java Power - Indonesia
- Ministry of Finance - Indonesia
- LBH Netherlands Bv - Netherlands
- Coalindo Energy - Indonesia
- Chamber of Mines of South Africa
- Cigading International Bulk Terminal - Indonesia
- Xindia Steels Limited - India
- IEA Clean Coal Centre - UK
- Aboitiz Power Corporation - Philippines
- Carbofer General Trading SA - India
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Dalmia Cement Bharat India
- Vizag Seaport Private Limited - India
- Africa Commodities Group - South Africa
- Meenaskhi Energy Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Eastern Energy - Thailand
- Malabar Cements Ltd - India
- Kalimantan Lumbung Energi - Indonesia
- White Energy Company Limited
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- San Jose City I Power Corp, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Gujarat Mineral Development Corp Ltd - India
- Uttam Galva Steels Limited - India
- Essar Steel Hazira Ltd - India
- Barasentosa Lestari - Indonesia
- Orica Australia Pty. Ltd.
- Sinarmas Energy and Mining - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Savvy Resources Ltd - HongKong
- Coastal Gujarat Power Limited - India
- Medco Energi Mining Internasional
- PTC India Limited - India
- Lanco Infratech Ltd - India
- Indian Energy Exchange, India
- AsiaOL BioFuels Corp., Philippines
- PNOC Exploration Corporation - Philippines
- MS Steel International - UAE
- Metalloyd Limited - United Kingdom
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- GVK Power & Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Standard Chartered Bank - UAE
- PetroVietnam Power Coal Import and Supply Company
- Commonwealth Bank - Australia
- Marubeni Corporation - India
- Siam City Cement PLC, Thailand
- Grasim Industreis Ltd - India
- Global Green Power PLC Corporation, Philippines
- SMG Consultants - Indonesia
- Iligan Light & Power Inc, Philippines
- Kohat Cement Company Ltd. - Pakistan
- India Bulls Power Limited - India
- Parliament of New Zealand
- Gujarat Sidhee Cement - India
- The University of Queensland
- Kapuas Tunggal Persada - Indonesia
- Ministry of Mines - Canada
- Manunggal Multi Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Formosa Plastics Group - Taiwan
- Pipit Mutiara Jaya. PT, Indonesia
- Romanian Commodities Exchange
- Mjunction Services Limited - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- SMC Global Power, Philippines
- Timah Investasi Mineral - Indoneisa
- Ind-Barath Power Infra Limited - India
- VISA Power Limited - India
- Georgia Ports Authority, United States
- Maharashtra Electricity Regulatory Commission - India
- Riau Bara Harum - Indonesia
- European Bulk Services B.V. - Netherlands
- Global Business Power Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- Ceylon Electricity Board - Sri Lanka
- SN Aboitiz Power Inc, Philippines
- Thai Mozambique Logistica
- Bangladesh Power Developement Board
- Power Finance Corporation Ltd., India
- Sree Jayajothi Cements Limited - India
- Australian Coal Association
- Electricity Generating Authority of Thailand
- Kartika Selabumi Mining - Indonesia
- Bhatia International Limited - India
- Renaissance Capital - South Africa
- Vijayanagar Sugar Pvt Ltd - India
- New Zealand Coal & Carbon
- Petron Corporation, Philippines
- Binh Thuan Hamico - Vietnam
- Indonesian Coal Mining Association
- TeaM Sual Corporation - Philippines
- Altura Mining Limited, Indonesia
- PowerSource Philippines DevCo
- Holcim Trading Pte Ltd - Singapore
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Siam City Cement - Thailand
- Thiess Contractors Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Kepco SPC Power Corporation, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Mercator Lines Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- International Coal Ventures Pvt Ltd - India
- Independent Power Producers Association of India
- Sindya Power Generating Company Private Ltd
- Billiton Holdings Pty Ltd - Australia
- Latin American Coal - Colombia
- Chettinad Cement Corporation Ltd - India
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- IHS Mccloskey Coal Group - USA
- Samtan Co., Ltd - South Korea
- Anglo American - United Kingdom
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Antam Resourcindo - Indonesia
- Parry Sugars Refinery, India
- Wilmar Investment Holdings
- ICICI Bank Limited - India
- OPG Power Generation Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Bukit Makmur.PT - Indonesia
- Simpson Spence & Young - Indonesia
- Price Waterhouse Coopers - Russia
- Mintek Dendrill Indonesia
- Electricity Authority, New Zealand
- Videocon Industries ltd - India
- Global Coal Blending Company Limited - Australia
- Bhushan Steel Limited - India
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