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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, 12 November 11
DRY BULK MARKET REGAINS SOME OF THE LOST GROUND - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market managed to edge forward yesterday, putting an end and halting the losses accumulated over the course of the past weeks, which ha ...
Friday, 11 November 11
PETROCOM ENERGY PLANS $40M TO BUILD COAL PLANT IN CILEGON - JP
The Jakarta Post reported that, Hong Kong-based Petrocom Energy Ltd has unveiled plans to invest up to US$40 million on a proposed coal-blending fac ...
Friday, 11 November 11
GOVT WAITS LEGAL DECISION ON BUKIT ASAM, ADARO DISPUTE - JP
The Jakarta Post reported that, The government says that it will not interfere in the settlement process of the dispute between state coal miner PT ...
Thursday, 10 November 11
INDONESIAN REFERENCE COAL PRICE FELL AGAIN
COALspot.com - Ministry of Energy and Mineral Resources of Indonesia has set the November 2011 Indonesian Coal Reference Price for thermal coal at U ...
Tuesday, 08 November 11
COAL MINER ABM INVESTAMA PLANS $290M PUBLIC OFFERING - JG
The Jakarta Globe reported that, ABM Investama, an Indonesian coal miner controlled by the Hamami family, plans to raise as much as Rp 2.6 trillion ...
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- LBH Netherlands Bv - Netherlands
- Antam Resourcindo - Indonesia
- Altura Mining Limited, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- CNBM International Corporation - China
- Borneo Indobara - Indonesia
- Manunggal Multi Energi - Indonesia
- Latin American Coal - Colombia
- International Coal Ventures Pvt Ltd - India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Australian Commodity Traders Exchange
- Indian Energy Exchange, India
- Deloitte Consulting - India
- Sindya Power Generating Company Private Ltd
- Port Waratah Coal Services - Australia
- Orica Australia Pty. Ltd.
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- CIMB Investment Bank - Malaysia
- Neyveli Lignite Corporation Ltd, - India
- GMR Energy Limited - India
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Iligan Light & Power Inc, Philippines
- Ind-Barath Power Infra Limited - India
- Xindia Steels Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Makarim & Taira - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Leighton Contractors Pty Ltd - Australia
- PetroVietnam Power Coal Import and Supply Company
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- SN Aboitiz Power Inc, Philippines
- Tata Chemicals Ltd - India
- Edison Trading Spa - Italy
- Vedanta Resources Plc - India
- Jindal Steel & Power Ltd - India
- Central Java Power - Indonesia
- The State Trading Corporation of India Ltd
- Mercuria Energy - Indonesia
- Anglo American - United Kingdom
- Asmin Koalindo Tuhup - Indonesia
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Siam City Cement - Thailand
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- IEA Clean Coal Centre - UK
- Essar Steel Hazira Ltd - India
- Coastal Gujarat Power Limited - India
- Petron Corporation, Philippines
- Larsen & Toubro Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Kartika Selabumi Mining - Indonesia
- Aditya Birla Group - India
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- Chettinad Cement Corporation Ltd - India
- Rio Tinto Coal - Australia
- Planning Commission, India
- Chamber of Mines of South Africa
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Kideco Jaya Agung - Indonesia
- Tamil Nadu electricity Board
- Jaiprakash Power Ventures ltd
- Sinarmas Energy and Mining - Indonesia
- VISA Power Limited - India
- Gujarat Sidhee Cement - India
- White Energy Company Limited
- The University of Queensland
- Malabar Cements Ltd - India
- Eastern Coal Council - USA
- Aboitiz Power Corporation - Philippines
- European Bulk Services B.V. - Netherlands
- Coal and Oil Company - UAE
- India Bulls Power Limited - India
- Banpu Public Company Limited - Thailand
- TeaM Sual Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Heidelberg Cement - Germany
- Intertek Mineral Services - Indonesia
- Vizag Seaport Private Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Vijayanagar Sugar Pvt Ltd - India
- IHS Mccloskey Coal Group - USA
- McConnell Dowell - Australia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- South Luzon Thermal Energy Corporation
- Central Electricity Authority - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Global Business Power Corporation, Philippines
- Global Coal Blending Company Limited - Australia
- Renaissance Capital - South Africa
- Sical Logistics Limited - India
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Binh Thuan Hamico - Vietnam
- PTC India Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Baramulti Group, Indonesia
- Straits Asia Resources Limited - Singapore
- Jorong Barutama Greston.PT - Indonesia
- Ambuja Cements Ltd - India
- Carbofer General Trading SA - India
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Alfred C Toepfer International GmbH - Germany
- Sojitz Corporation - Japan
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Meenaskhi Energy Private Limited - India
- Price Waterhouse Coopers - Russia
- Electricity Generating Authority of Thailand
- ASAPP Information Group - India
- Semirara Mining Corp, Philippines
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Orica Mining Services - Indonesia
- Barasentosa Lestari - Indonesia
- Thai Mozambique Logistica
- Samtan Co., Ltd - South Korea
- Australian Coal Association
- Asia Pacific Energy Resources Ventures Inc, Philippines
- The Treasury - Australian Government
- Interocean Group of Companies - India
- Globalindo Alam Lestari - Indonesia
- Sree Jayajothi Cements Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Bhushan Steel Limited - India
- Independent Power Producers Association of India
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Kepco SPC Power Corporation, Philippines
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Parliament of New Zealand
- Indonesian Coal Mining Association
- Eastern Energy - Thailand
- Indo Tambangraya Megah - Indonesia
- Simpson Spence & Young - Indonesia
- Economic Council, Georgia
- Energy Development Corp, Philippines
- Africa Commodities Group - South Africa
- Indian Oil Corporation Limited
- Directorate Of Revenue Intelligence - India
- GAC Shipping (India) Pvt Ltd
- Georgia Ports Authority, United States
- Karaikal Port Pvt Ltd - India
- OPG Power Generation Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- PowerSource Philippines DevCo
- ICICI Bank Limited - India
- Romanian Commodities Exchange
- Indika Energy - Indonesia
- Attock Cement Pakistan Limited
- London Commodity Brokers - England
- Directorate General of MIneral and Coal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Holcim Trading Pte Ltd - Singapore
- Videocon Industries ltd - India
- Electricity Authority, New Zealand
- Trasteel International SA, Italy
- Wilmar Investment Holdings
- Bangladesh Power Developement Board
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Parry Sugars Refinery, India
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- Madhucon Powers Ltd - India
- Bukit Makmur.PT - Indonesia
- Medco Energi Mining Internasional
- Gujarat Mineral Development Corp Ltd - India
- Thiess Contractors Indonesia
- Sakthi Sugars Limited - India
- Energy Link Ltd, New Zealand
- Bulk Trading Sa - Switzerland
- Metalloyd Limited - United Kingdom
- MS Steel International - UAE
- Billiton Holdings Pty Ltd - Australia
- SMG Consultants - Indonesia
- Ministry of Transport, Egypt
- Dalmia Cement Bharat India
- Commonwealth Bank - Australia
- Kaltim Prima Coal - Indonesia
- Standard Chartered Bank - UAE
- Mjunction Services Limited - India
- Coalindo Energy - Indonesia
- Riau Bara Harum - Indonesia
- Kumho Petrochemical, South Korea
- Bukit Baiduri Energy - Indonesia
- Mercator Lines Limited - India
- Indogreen Group - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Bukit Asam (Persero) Tbk - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- Ministry of Finance - Indonesia
- Savvy Resources Ltd - HongKong
- PNOC Exploration Corporation - Philippines
- Singapore Mercantile Exchange
- Cement Manufacturers Association - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
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