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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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Monday, 05 December 11
SGX LAUNCHED IHS MCCLOSKEY/XINHUA INFOLINK OTC CFR SOUTH CHINA COAL CONTRACT TODAY
COALspot.com - In order to meet the demand of the coal industry for an effective coal hedging tool with counterparty credit risk mitigation facility ...
Monday, 05 December 11
DRY BULK RATES LOOKING TO EXTEND GAINS THIS WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Capesize dry bulk carrier owners have had a great week, with rates rising for six straight sessions (including the end of the week before that). As ...
Sunday, 04 December 11
SUPRAMAX TRIPS VIA INDONESIA WERE REPORTED AROUND $ 7500 - 8000 PD
COALspot.com - The BDI and Cape index recovered this week. The BDI was up by 3.26 pct and Cape index saw a big jump and closed at 3409 points (up by ...
Saturday, 03 December 11
BORNEO TO SPEND US$600 MIO CAPEX - INSIDER STORIES
Insider Stories reported that, Coking coal miner PT Borneo Lumbung Energi & Metal Tbk (BORN) plans to spend US$600 million capital expenditure ( ...
Friday, 02 December 11
DRY BULK CARRIERS BACK IN THE SPOTLIGHT AS MARKET SPEEDS UP - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
With the tanker and container markets suffering dearly, it seems that the tide has once again turned in favor of the dry bulk carriers, despite over ...
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- Georgia Ports Authority, United States
- Bukit Baiduri Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Eastern Energy - Thailand
- Singapore Mercantile Exchange
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Romanian Commodities Exchange
- Electricity Authority, New Zealand
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- Maharashtra Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Bharathi Cement Corporation - India
- Malabar Cements Ltd - India
- Baramulti Group, Indonesia
- Sinarmas Energy and Mining - Indonesia
- Tata Chemicals Ltd - India
- Bayan Resources Tbk. - Indonesia
- Minerals Council of Australia
- Chettinad Cement Corporation Ltd - India
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- Orica Australia Pty. Ltd.
- OPG Power Generation Pvt Ltd - India
- Bhatia International Limited - India
- Jorong Barutama Greston.PT - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- SN Aboitiz Power Inc, Philippines
- Latin American Coal - Colombia
- VISA Power Limited - India
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- PTC India Limited - India
- IEA Clean Coal Centre - UK
- Meenaskhi Energy Private Limited - India
- Wood Mackenzie - Singapore
- Star Paper Mills Limited - India
- Directorate Of Revenue Intelligence - India
- Xindia Steels Limited - India
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Renaissance Capital - South Africa
- Port Waratah Coal Services - Australia
- Vedanta Resources Plc - India
- Cement Manufacturers Association - India
- Kapuas Tunggal Persada - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Global Green Power PLC Corporation, Philippines
- Rio Tinto Coal - Australia
- India Bulls Power Limited - India
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Goldman Sachs - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Banpu Public Company Limited - Thailand
- Marubeni Corporation - India
- Leighton Contractors Pty Ltd - Australia
- McConnell Dowell - Australia
- Power Finance Corporation Ltd., India
- Gujarat Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Jaiprakash Power Ventures ltd
- International Coal Ventures Pvt Ltd - India
- Mercuria Energy - Indonesia
- IHS Mccloskey Coal Group - USA
- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- GMR Energy Limited - India
- Riau Bara Harum - Indonesia
- Bhoruka Overseas - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Kartika Selabumi Mining - Indonesia
- Vizag Seaport Private Limited - India
- Savvy Resources Ltd - HongKong
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Jindal Steel & Power Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Tamil Nadu electricity Board
- Iligan Light & Power Inc, Philippines
- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- SMC Global Power, Philippines
- London Commodity Brokers - England
- Parry Sugars Refinery, India
- Pendopo Energi Batubara - Indonesia
- Deloitte Consulting - India
- Semirara Mining Corp, Philippines
- Standard Chartered Bank - UAE
- ASAPP Information Group - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Mintek Dendrill Indonesia
- Indika Energy - Indonesia
- Global Business Power Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- The Treasury - Australian Government
- Karbindo Abesyapradhi - Indoneisa
- Directorate General of MIneral and Coal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Coal and Oil Company - UAE
- Indian Energy Exchange, India
- Indonesian Coal Mining Association
- Australian Coal Association
- Kobexindo Tractors - Indoneisa
- Kepco SPC Power Corporation, Philippines
- Borneo Indobara - Indonesia
- Planning Commission, India
- Dalmia Cement Bharat India
- Siam City Cement - Thailand
- Sree Jayajothi Cements Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Vijayanagar Sugar Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Petron Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Formosa Plastics Group - Taiwan
- Aditya Birla Group - India
- SMG Consultants - Indonesia
- Gujarat Sidhee Cement - India
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Thiess Contractors Indonesia
- Agrawal Coal Company - India
- Edison Trading Spa - Italy
- Bhushan Steel Limited - India
- Altura Mining Limited, Indonesia
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Ministry of Mines - Canada
- Semirara Mining and Power Corporation, Philippines
- Coalindo Energy - Indonesia
- Africa Commodities Group - South Africa
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Kaltim Prima Coal - Indonesia
- Kideco Jaya Agung - Indonesia
- Makarim & Taira - Indonesia
- Thai Mozambique Logistica
- The State Trading Corporation of India Ltd
- Mjunction Services Limited - India
- Trasteel International SA, Italy
- Indian Oil Corporation Limited
- Heidelberg Cement - Germany
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Aboitiz Power Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Economic Council, Georgia
- Carbofer General Trading SA - India
- Central Java Power - Indonesia
- PNOC Exploration Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Attock Cement Pakistan Limited
- Videocon Industries ltd - India
- Price Waterhouse Coopers - Russia
- Australian Commodity Traders Exchange
- Globalindo Alam Lestari - Indonesia
- Commonwealth Bank - Australia
- Barasentosa Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Orica Mining Services - Indonesia
- Wilmar Investment Holdings
- Kumho Petrochemical, South Korea
- Maheswari Brothers Coal Limited - India
- Oldendorff Carriers - Singapore
- MS Steel International - UAE
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Neyveli Lignite Corporation Ltd, - India
- Grasim Industreis Ltd - India
- Eastern Coal Council - USA
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Mercator Lines Limited - India
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Ministry of Transport, Egypt
- Sarangani Energy Corporation, Philippines
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Sakthi Sugars Limited - India
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Timah Investasi Mineral - Indoneisa
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- TeaM Sual Corporation - Philippines
- The University of Queensland
- New Zealand Coal & Carbon
- PowerSource Philippines DevCo
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Essar Steel Hazira Ltd - India
- Chamber of Mines of South Africa
- Global Coal Blending Company Limited - Australia
- PetroVietnam Power Coal Import and Supply Company
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
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