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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 December 11
MINER TOBA BARA SEJAHTRA PLANS IPO IN 1ST HALF OF 2012 - THE JAKARTA GLOBE
The Jakarta Globe reported that, Coal miner Toba Bara Sejahtra is aiming high next year, hoping to capitalize on renewed bullish sentiment in the lo ...
Wednesday, 14 December 11
TIMAH PLANS TO BOOST ITS COAL PRODUCTION TO TWO MILLION TONS PER ANNUM - SOURCES
COALspot.com - Timah plans to boost its coal production to two million tons per annum. The company also expects to acquire coal concession with mini ...
Wednesday, 14 December 11
BORNEO RESOURCE INVESTMENTS LTD. FINALIZES ACQUISITION OF INTEGRA PRIMA
COALspot.com - Borneo Resource Investments Ltd., announced that it has finalized the acquisition of an additional 1,300 hectare coal mining concessi ...
Tuesday, 13 December 11
BERAU COAL SCOUTS US$1.61 BIO SALES - INSIDER STORIES
Insider Stories reported that, coal mining company PT Berau Coal Energy Tbk (BRAU), that is 85% owned by London-listed company Bumi Plc, estimates a ...
Tuesday, 13 December 11
CAPESIZES AND PANAMAXES LEAD DRY BULK MARKET HIGHER - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched closer to the 2,000 mark on Monday, with Panamaxes rebounding firmly and leading the gains. As a result, the industry&rsq ...
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- Siam City Cement PLC, Thailand
- Goldman Sachs - Singapore
- European Bulk Services B.V. - Netherlands
- Mintek Dendrill Indonesia
- Bhoruka Overseas - Indonesia
- Marubeni Corporation - India
- Ind-Barath Power Infra Limited - India
- Antam Resourcindo - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indian Oil Corporation Limited
- Thai Mozambique Logistica
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Parry Sugars Refinery, India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- GAC Shipping (India) Pvt Ltd
- Sakthi Sugars Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Indika Energy - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Indonesian Coal Mining Association
- Makarim & Taira - Indonesia
- McConnell Dowell - Australia
- Eastern Energy - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Interocean Group of Companies - India
- Riau Bara Harum - Indonesia
- IEA Clean Coal Centre - UK
- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Iligan Light & Power Inc, Philippines
- Economic Council, Georgia
- Lanco Infratech Ltd - India
- Indo Tambangraya Megah - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Transport, Egypt
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Jaiprakash Power Ventures ltd
- Billiton Holdings Pty Ltd - Australia
- ICICI Bank Limited - India
- Timah Investasi Mineral - Indoneisa
- Minerals Council of Australia
- Australian Coal Association
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- TeaM Sual Corporation - Philippines
- Karaikal Port Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Latin American Coal - Colombia
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Madhucon Powers Ltd - India
- Standard Chartered Bank - UAE
- London Commodity Brokers - England
- Coal and Oil Company - UAE
- Kumho Petrochemical, South Korea
- The Treasury - Australian Government
- Bukit Makmur.PT - Indonesia
- Heidelberg Cement - Germany
- Bhushan Steel Limited - India
- International Coal Ventures Pvt Ltd - India
- Bangladesh Power Developement Board
- Anglo American - United Kingdom
- Borneo Indobara - Indonesia
- Renaissance Capital - South Africa
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Merrill Lynch Commodities Europe
- Australian Commodity Traders Exchange
- Attock Cement Pakistan Limited
- Sojitz Corporation - Japan
- Agrawal Coal Company - India
- Ambuja Cements Ltd - India
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Kideco Jaya Agung - Indonesia
- White Energy Company Limited
- San Jose City I Power Corp, Philippines
- Ministry of Mines - Canada
- CIMB Investment Bank - Malaysia
- Mercuria Energy - Indonesia
- Indian Energy Exchange, India
- Kartika Selabumi Mining - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Parliament of New Zealand
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- Straits Asia Resources Limited - Singapore
- Ceylon Electricity Board - Sri Lanka
- Orica Mining Services - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- The University of Queensland
- Petron Corporation, Philippines
- Miang Besar Coal Terminal - Indonesia
- CNBM International Corporation - China
- Energy Development Corp, Philippines
- Deloitte Consulting - India
- Electricity Authority, New Zealand
- Savvy Resources Ltd - HongKong
- India Bulls Power Limited - India
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- Orica Australia Pty. Ltd.
- Global Coal Blending Company Limited - Australia
- Edison Trading Spa - Italy
- Intertek Mineral Services - Indonesia
- Power Finance Corporation Ltd., India
- Meenaskhi Energy Private Limited - India
- The State Trading Corporation of India Ltd
- Bhatia International Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- Samtan Co., Ltd - South Korea
- Bank of Tokyo Mitsubishi UFJ Ltd
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- SMC Global Power, Philippines
- Banpu Public Company Limited - Thailand
- Pendopo Energi Batubara - Indonesia
- Aboitiz Power Corporation - Philippines
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Maharashtra Electricity Regulatory Commission - India
- Meralco Power Generation, Philippines
- Sical Logistics Limited - India
- GVK Power & Infra Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Tamil Nadu electricity Board
- PowerSource Philippines DevCo
- Sinarmas Energy and Mining - Indonesia
- Dalmia Cement Bharat India
- Wilmar Investment Holdings
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indogreen Group - Indonesia
- Sarangani Energy Corporation, Philippines
- Global Business Power Corporation, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Coal Council - USA
- Baramulti Group, Indonesia
- Georgia Ports Authority, United States
- Central Java Power - Indonesia
- Tata Chemicals Ltd - India
- Grasim Industreis Ltd - India
- ASAPP Information Group - India
- Xindia Steels Limited - India
- Essar Steel Hazira Ltd - India
- Kaltim Prima Coal - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Oldendorff Carriers - Singapore
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Rio Tinto Coal - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Medco Energi Mining Internasional
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- VISA Power Limited - India
- Singapore Mercantile Exchange
- Videocon Industries ltd - India
- Gujarat Sidhee Cement - India
- PetroVietnam Power Coal Import and Supply Company
- South Luzon Thermal Energy Corporation
- Gujarat Mineral Development Corp Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Jindal Steel & Power Ltd - India
- Planning Commission, India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
- Aditya Birla Group - India
- Chamber of Mines of South Africa
- Bukit Asam (Persero) Tbk - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- LBH Netherlands Bv - Netherlands
- SMG Consultants - Indonesia
- Coastal Gujarat Power Limited - India
- Bukit Baiduri Energy - Indonesia
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Trasteel International SA, Italy
- Independent Power Producers Association of India
- IHS Mccloskey Coal Group - USA
- Uttam Galva Steels Limited - India
- Semirara Mining Corp, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Barasentosa Lestari - Indonesia
- Posco Energy - South Korea
- Malabar Cements Ltd - India
- Kobexindo Tractors - Indoneisa
- Port Waratah Coal Services - Australia
- Mercator Lines Limited - India
- Wood Mackenzie - Singapore
- OPG Power Generation Pvt Ltd - India
- Simpson Spence & Young - Indonesia
- SN Aboitiz Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Thiess Contractors Indonesia
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