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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, 01 December 11
DRY BULK MARKET RISES TO NEW HEIGHTS ON RENEWED DEMAND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept on rising this week, with the industry’s benchmark, the Baltic Dry Index (BDI) climbing to 1,846 points on Wednes ...
Tuesday, 29 November 11
SOUTH AFRICAN COAL INTO CHINA, THE ACTIVITY WAS SLOW - BRS
Capesize
The Capesize market in Atlantic stayed pretty firm last week with transatlantic rounds being fixed in the high twenties. Sentiment was les ...
Tuesday, 29 November 11
GOLDEN GATE BRIDGE OF INDONESIA COLLAPSED AT KUKAR, EAST KALIMANTAN
COALspot.com - A suspension bridge in Indonesia’s east Kalimantan province over the Mahakam river collapsed on Saturday, killing at least elev ...
Tuesday, 29 November 11
BUKIT ASAM SCOUTS RP3 TRILLION PROFIT - INSIDER STORIES
The state-controlled coal miner PT Bukit Asam Tbk (PTBA) expects to post a Rp3 trillion net income this year, reaching its target which is 50% above ...
Tuesday, 29 November 11
DRY BULK MARKET BEGINS WEEK ON HIGHER NOTE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Contrary to what had been the case during the past few weeks, this one began on a high note for the dry bulk market, with the Capesize sector pullin ...
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- Sinarmas Energy and Mining - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Karaikal Port Pvt Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Samtan Co., Ltd - South Korea
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Sree Jayajothi Cements Limited - India
- Marubeni Corporation - India
- Global Coal Blending Company Limited - Australia
- TeaM Sual Corporation - Philippines
- Essar Steel Hazira Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Asmin Koalindo Tuhup - Indonesia
- Electricity Authority, New Zealand
- Carbofer General Trading SA - India
- Sarangani Energy Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- CIMB Investment Bank - Malaysia
- Kaltim Prima Coal - Indonesia
- ASAPP Information Group - India
- Vijayanagar Sugar Pvt Ltd - India
- Gujarat Sidhee Cement - India
- Eastern Energy - Thailand
- Parry Sugars Refinery, India
- Kumho Petrochemical, South Korea
- Bayan Resources Tbk. - Indonesia
- Vedanta Resources Plc - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Xindia Steels Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- Sindya Power Generating Company Private Ltd
- Bhushan Steel Limited - India
- South Luzon Thermal Energy Corporation
- PNOC Exploration Corporation - Philippines
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Indian Energy Exchange, India
- Cement Manufacturers Association - India
- Intertek Mineral Services - Indonesia
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Meralco Power Generation, Philippines
- Uttam Galva Steels Limited - India
- Tamil Nadu electricity Board
- Medco Energi Mining Internasional
- Georgia Ports Authority, United States
- IEA Clean Coal Centre - UK
- Binh Thuan Hamico - Vietnam
- SMG Consultants - Indonesia
- Thiess Contractors Indonesia
- Larsen & Toubro Limited - India
- Jindal Steel & Power Ltd - India
- Edison Trading Spa - Italy
- Bukit Baiduri Energy - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- Bhoruka Overseas - Indonesia
- Vizag Seaport Private Limited - India
- Krishnapatnam Port Company Ltd. - India
- Petron Corporation, Philippines
- Central Electricity Authority - India
- Sakthi Sugars Limited - India
- European Bulk Services B.V. - Netherlands
- GVK Power & Infra Limited - India
- Standard Chartered Bank - UAE
- VISA Power Limited - India
- Heidelberg Cement - Germany
- Thai Mozambique Logistica
- Jorong Barutama Greston.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- MS Steel International - UAE
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Siam City Cement PLC, Thailand
- Offshore Bulk Terminal Pte Ltd, Singapore
- Mjunction Services Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- Sojitz Corporation - Japan
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Interocean Group of Companies - India
- International Coal Ventures Pvt Ltd - India
- Power Finance Corporation Ltd., India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- The Treasury - Australian Government
- Indonesian Coal Mining Association
- Merrill Lynch Commodities Europe
- Straits Asia Resources Limited - Singapore
- Australian Commodity Traders Exchange
- Kapuas Tunggal Persada - Indonesia
- Globalindo Alam Lestari - Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Iligan Light & Power Inc, Philippines
- GAC Shipping (India) Pvt Ltd
- Manunggal Multi Energi - Indonesia
- Antam Resourcindo - Indonesia
- Mercator Lines Limited - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- Toyota Tsusho Corporation, Japan
- Parliament of New Zealand
- PetroVietnam Power Coal Import and Supply Company
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- SN Aboitiz Power Inc, Philippines
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- McConnell Dowell - Australia
- Karbindo Abesyapradhi - Indoneisa
- Madhucon Powers Ltd - India
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Bulk Trading Sa - Switzerland
- Goldman Sachs - Singapore
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Dalmia Cement Bharat India
- GMR Energy Limited - India
- India Bulls Power Limited - India
- Ind-Barath Power Infra Limited - India
- Anglo American - United Kingdom
- Rashtriya Ispat Nigam Limited - India
- Energy Development Corp, Philippines
- Oldendorff Carriers - Singapore
- Indika Energy - Indonesia
- Barasentosa Lestari - Indonesia
- London Commodity Brokers - England
- Leighton Contractors Pty Ltd - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Renaissance Capital - South Africa
- PTC India Limited - India
- Makarim & Taira - Indonesia
- White Energy Company Limited
- Mintek Dendrill Indonesia
- Semirara Mining Corp, Philippines
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- ICICI Bank Limited - India
- Ambuja Cements Ltd - India
- Agrawal Coal Company - India
- Posco Energy - South Korea
- Coastal Gujarat Power Limited - India
- Maheswari Brothers Coal Limited - India
- Deloitte Consulting - India
- Bahari Cakrawala Sebuku - Indonesia
- Aboitiz Power Corporation - Philippines
- Orica Mining Services - Indonesia
- Riau Bara Harum - Indonesia
- Borneo Indobara - Indonesia
- Bhatia International Limited - India
- Therma Luzon, Inc, Philippines
- Mercuria Energy - Indonesia
- Altura Mining Limited, Indonesia
- Kideco Jaya Agung - Indonesia
- Planning Commission, India
- Ministry of Finance - Indonesia
- Siam City Cement - Thailand
- Kartika Selabumi Mining - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Coal and Oil Company - UAE
- Kohat Cement Company Ltd. - Pakistan
- Wood Mackenzie - Singapore
- Eastern Coal Council - USA
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- TNB Fuel Sdn Bhd - Malaysia
- Meenaskhi Energy Private Limited - India
- OPG Power Generation Pvt Ltd - India
- Pendopo Energi Batubara - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Rio Tinto Coal - Australia
- Sical Logistics Limited - India
- Energy Link Ltd, New Zealand
- LBH Netherlands Bv - Netherlands
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Australian Coal Association
- PowerSource Philippines DevCo
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Aditya Birla Group - India
- Electricity Generating Authority of Thailand
- Indian Oil Corporation Limited
- Ministry of Mines - Canada
- Grasim Industreis Ltd - India
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Global Business Power Corporation, Philippines
- The University of Queensland
- Minerals Council of Australia
- Central Java Power - Indonesia
- Simpson Spence & Young - Indonesia
- Miang Besar Coal Terminal - Indonesia
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