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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, 22 December 11
DRY BULK MARKET KEEPS LOSING TRACTION AHEAD OF HOLIDAY SEASON - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market kept retreating in the middle of the week, as charterers seem to be looking towards the holiday season and the start of the new ye ...
Tuesday, 20 December 11
THE COAL IMPORT INTO CHINA WAS QUIETER AS COAL STOCKS WERE AT HIGH LEVELS - BRS
The BDI ended the week at 1888 points (-1.8%), the BCI corrected to 3572 (-3.4%), the BPI was up at 1,775 (+3.6%), the BSI dropped to 1193 (-3.0%) a ...
Tuesday, 20 December 11
INDIA IMPORTS 66.41 PERCENT MORE COAL FROM INDONESIA LAST MONTH - SOURCES
COALspot.com: Indonesia, the world largest coal exporter, shipped 33.476* mln mt of coal in November, which is slightly higher than its Octobe ...
Monday, 19 December 11
KOPEX COMMITS ADDITIONAL ONE MILLION DOLLAR FOR PT TRANSCOAL MINERGY
COALspot.com - Mining contractor Kopex has agreed to extend a further US$1 million to finance the remainder of the expanded drill program at PT Tran ...
Monday, 19 December 11
PLN WILL NO LONGER BUY COAL FROM TRADERS
COALspot.com - Indonesia's state electricity company PT Perusahaan Listrik Negara will no longer allow traders to become their suppliers, said, its ...
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- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- TNB Fuel Sdn Bhd - Malaysia
- Bukit Asam (Persero) Tbk - Indonesia
- Bhushan Steel Limited - India
- Africa Commodities Group - South Africa
- Aboitiz Power Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Baramulti Group, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- Energy Development Corp, Philippines
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Wood Mackenzie - Singapore
- Medco Energi Mining Internasional
- Electricity Generating Authority of Thailand
- Orica Mining Services - Indonesia
- India Bulls Power Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Sarangani Energy Corporation, Philippines
- Bulk Trading Sa - Switzerland
- Asmin Koalindo Tuhup - Indonesia
- Banpu Public Company Limited - Thailand
- Indogreen Group - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Sakthi Sugars Limited - India
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Central Electricity Authority - India
- Jorong Barutama Greston.PT - Indonesia
- Xindia Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Malabar Cements Ltd - India
- GVK Power & Infra Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bayan Resources Tbk. - Indonesia
- Samtan Co., Ltd - South Korea
- Intertek Mineral Services - Indonesia
- Parliament of New Zealand
- Romanian Commodities Exchange
- SMG Consultants - Indonesia
- Mintek Dendrill Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Madhucon Powers Ltd - India
- Formosa Plastics Group - Taiwan
- Oldendorff Carriers - Singapore
- Deloitte Consulting - India
- Indian Energy Exchange, India
- CIMB Investment Bank - Malaysia
- Cigading International Bulk Terminal - Indonesia
- Interocean Group of Companies - India
- Economic Council, Georgia
- Sojitz Corporation - Japan
- Merrill Lynch Commodities Europe
- OPG Power Generation Pvt Ltd - India
- London Commodity Brokers - England
- MS Steel International - UAE
- Kepco SPC Power Corporation, Philippines
- Carbofer General Trading SA - India
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Bukit Makmur.PT - Indonesia
- PowerSource Philippines DevCo
- Eastern Coal Council - USA
- VISA Power Limited - India
- Central Java Power - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Bhoruka Overseas - Indonesia
- McConnell Dowell - Australia
- Sinarmas Energy and Mining - Indonesia
- Bharathi Cement Corporation - India
- GMR Energy Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Makarim & Taira - Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Planning Commission, India
- Grasim Industreis Ltd - India
- ICICI Bank Limited - India
- Ministry of Mines - Canada
- Heidelberg Cement - Germany
- Goldman Sachs - Singapore
- Larsen & Toubro Limited - India
- Global Coal Blending Company Limited - Australia
- Bukit Baiduri Energy - Indonesia
- Chamber of Mines of South Africa
- Wilmar Investment Holdings
- Tata Chemicals Ltd - India
- IHS Mccloskey Coal Group - USA
- Toyota Tsusho Corporation, Japan
- Global Business Power Corporation, Philippines
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Semirara Mining and Power Corporation, Philippines
- Sical Logistics Limited - India
- Billiton Holdings Pty Ltd - Australia
- Gujarat Electricity Regulatory Commission - India
- Siam City Cement - Thailand
- Ambuja Cements Ltd - India
- Lanco Infratech Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Agrawal Coal Company - India
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- SMC Global Power, Philippines
- Aditya Birla Group - India
- Uttam Galva Steels Limited - India
- Savvy Resources Ltd - HongKong
- Georgia Ports Authority, United States
- Mercator Lines Limited - India
- Straits Asia Resources Limited - Singapore
- LBH Netherlands Bv - Netherlands
- Meralco Power Generation, Philippines
- Semirara Mining Corp, Philippines
- Coalindo Energy - Indonesia
- Borneo Indobara - Indonesia
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- The State Trading Corporation of India Ltd
- Leighton Contractors Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Miang Besar Coal Terminal - Indonesia
- Petron Corporation, Philippines
- ASAPP Information Group - India
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Attock Cement Pakistan Limited
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Kartika Selabumi Mining - Indonesia
- Essar Steel Hazira Ltd - India
- Gujarat Sidhee Cement - India
- Commonwealth Bank - Australia
- AsiaOL BioFuels Corp., Philippines
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- The Treasury - Australian Government
- Indo Tambangraya Megah - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- Electricity Authority, New Zealand
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Kumho Petrochemical, South Korea
- Jindal Steel & Power Ltd - India
- Eastern Energy - Thailand
- Kaltim Prima Coal - Indonesia
- Tamil Nadu electricity Board
- Port Waratah Coal Services - Australia
- Alfred C Toepfer International GmbH - Germany
- PTC India Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Ministry of Transport, Egypt
- Independent Power Producers Association of India
- Posco Energy - South Korea
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Videocon Industries ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Kalimantan Lumbung Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Metalloyd Limited - United Kingdom
- Edison Trading Spa - Italy
- Petrochimia International Co. Ltd.- Taiwan
- Riau Bara Harum - Indonesia
- CNBM International Corporation - China
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Vijayanagar Sugar Pvt Ltd - India
- Bhatia International Limited - India
- Coastal Gujarat Power Limited - India
- Vedanta Resources Plc - India
- Ind-Barath Power Infra Limited - India
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Marubeni Corporation - India
- Energy Link Ltd, New Zealand
- Iligan Light & Power Inc, Philippines
- Thiess Contractors Indonesia
- Parry Sugars Refinery, India
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- GAC Shipping (India) Pvt Ltd
- Simpson Spence & Young - Indonesia
- Meenaskhi Energy Private Limited - India
- Indian Oil Corporation Limited
- Kobexindo Tractors - Indoneisa
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dalmia Cement Bharat India
- Ministry of Finance - Indonesia
- Australian Coal Association
- South Luzon Thermal Energy Corporation
- Therma Luzon, Inc, Philippines
- Mjunction Services Limited - India
- Globalindo Alam Lestari - Indonesia
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