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Thursday, 03 May 12
MINERS DEMAND LEGAL CERTAINTY ON PRE-BAN INTERIM POLICY - THE JAKARTA POST
 The Jakarta Post reported that, Mining companies represented by the Indonesian Mining Association (IMA) welcomed the government’s plan to impose export duty on 14 mineral commodities starting May 6, seeing the initiative as a step in the right direction in replacing the initial plan to entirely ban the exporting of commodities.
In a statement issued on Wednesday, the IMA said the ministerial decree on the export ban, which was introduced in February and was set to become effective on May 7, had created much controversy due to the speed of its planned implementation; far earlier than the 2014 deadline set by the 2009 Mining Law, which would have left most mining companies unable to comply.
The government had argued that the quick implementation of the export ban was aimed at avoiding over-exploitation by miners ahead of the 2014 deadline, and to ensure that supplies were secured to meet growing domestic demand.
“The IMA appreciates the government’s [new] plan to issue and implement export taxes on 14 mineral commodities … We hope that given the intention to make Ministerial Decree No. 7/2012 effective on May 6, there will be further clarification from the government on its implementation,” IMA chairman, Martiono Hadianto, said.
Previously, after a wave of protests from mining companies, the government said they could continue exporting as long as certain conditions were met; namely, mining companies had to sign integrity pacts agreeing that in 2014 they would stop exporting metal ore, and they would have to submit a comprehensive proposal on whether they wanted to build smelters -- individually or in joint ventures -- or sell their products domestically.
The government revealed that as many as 17 companies had proposed to build smelters in Indonesia, in addition to the 19 companies that had previously submitted similar plans to the Energy and Mineral Resources Ministry. Altogether, Indonesia will have a total of 36 new smelters built over the next few years.
The IMA has requested that the changes to the export ban regulation be adapted into a new regulation so as to provide legal certainty for all mining companies’ operations.
A mining expert from the Institute for Essential Services Reform, Fabby Tumiwa, agreed that the government needed to provide a legal framework.
“The 2009 Law on Minerals and Coal sets the deadline at 2014, but the ministerial regulation stipulates it’s this month. Now we hear about the government’s plan to apply export tax on metal ore. What can be taxed if raw-material exports have been fully banned?” he said.
He suggested the government revoke the regulation or revise it with a clearer, new regulation to accommodate the export duty.
Ahead of the implementation of the export tax, the IMA also warned the government to consider the fact that mining companies were already paying on average 30 percent taxation on their income.
“We hope the implementation of the export tax will not adversely affect the investment climate in Indonesia and lead to less foreign investment,” Martiono said.
According to Energy and Mineral Resources Minister Jero Wacik, the export taxes, which will be announced by the Finance
Ministry on May 6, will range between 20 and 50 percent of a commodity’s sale value.
State mining firm PT Aneka Tambang’s (Antam) president director, Alwinsyah Lubis, acknowledged that the planned duty would be a challenge for mining companies. But, he understood the government’s goal to prevent over-exploitation of natural resources while awaiting the raw materials export ban to be fully implemented in 2014.
“Business-wise, it will indeed add a greater burden to companies, but I think it is still bearable,” he said in a recent exclusive interview with The Jakarta Post.
Source: The Jakarta Post
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Friday, 06 September 24
REBOUND IN OIL DEMAND COULD LIFT MARKET IN LATTER HALF OF 2024 - BIMCO
Supply/demand
Based on a strong second half demand, the supply/balance is forecast to strengthen in 2024 but weaken slightly in 2025 as n ...
Friday, 06 September 24
GLOBAL SEABORNE LNG TRADE HAS CONTINUED TO INCREASE LAST YEAR - BANCHERO COSTA
Global seaborne LNG trade has continued to increase last year, helped also by the events in Ukraine which forced Europe to diversify away from Russ ...
Wednesday, 28 August 24
SEABORNE COAL IMPORTS INTO INDIA INCREASED BY +9.9% Y-O-Y TO 146.6 MLN T - BANCHERO COSTA
Global coal trade has really picked up pace over the past year, and is now fully back to pre-Covid levels said Banchero Costa Research in its lates ...
Tuesday, 06 August 24
EXERCISE CAUTION WITH AMMONIA SWITCH - BALTIC EXCHANGE
A new study from the Massachusetts Institute of Technology (MIT) has thrown a spanner into the plan to transition ships from diesel fuel to ammonia ...
Friday, 02 August 24
ENERGY MARKET DEVELOPMENTS: COAL AND NATURAL GAS PRICES REACH RECORD HIGHS - WORLD BANK
The recent surge in natural gas and coal prices has been so swift that the main benchmarks were roughly three times higher in 2022Q2 compared to a ...
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- Binh Thuan Hamico - Vietnam
- Malabar Cements Ltd - India
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
- South Luzon Thermal Energy Corporation
- Essar Steel Hazira Ltd - India
- Wilmar Investment Holdings
- Madhucon Powers Ltd - India
- Manunggal Multi Energi - Indonesia
- Global Green Power PLC Corporation, Philippines
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Siam City Cement PLC, Thailand
- PTC India Limited - India
- Parliament of New Zealand
- Independent Power Producers Association of India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Meralco Power Generation, Philippines
- TeaM Sual Corporation - Philippines
- Thai Mozambique Logistica
- Central Electricity Authority - India
- GMR Energy Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- London Commodity Brokers - England
- Agrawal Coal Company - India
- Energy Link Ltd, New Zealand
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Kideco Jaya Agung - Indonesia
- The State Trading Corporation of India Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- PowerSource Philippines DevCo
- Minerals Council of Australia
- Semirara Mining and Power Corporation, Philippines
- GVK Power & Infra Limited - India
- Commonwealth Bank - Australia
- Merrill Lynch Commodities Europe
- Edison Trading Spa - Italy
- Savvy Resources Ltd - HongKong
- Sarangani Energy Corporation, Philippines
- Bayan Resources Tbk. - Indonesia
- Georgia Ports Authority, United States
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Indika Energy - Indonesia
- Lanco Infratech Ltd - India
- Cement Manufacturers Association - India
- Riau Bara Harum - Indonesia
- MS Steel International - UAE
- Formosa Plastics Group - Taiwan
- TNB Fuel Sdn Bhd - Malaysia
- Port Waratah Coal Services - Australia
- Orica Mining Services - Indonesia
- Electricity Generating Authority of Thailand
- Borneo Indobara - Indonesia
- Bangladesh Power Developement Board
- Economic Council, Georgia
- Attock Cement Pakistan Limited
- European Bulk Services B.V. - Netherlands
- SN Aboitiz Power Inc, Philippines
- San Jose City I Power Corp, Philippines
- Sakthi Sugars Limited - India
- Bukit Baiduri Energy - Indonesia
- ICICI Bank Limited - India
- Posco Energy - South Korea
- Ministry of Mines - Canada
- Goldman Sachs - Singapore
- Bharathi Cement Corporation - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Medco Energi Mining Internasional
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Price Waterhouse Coopers - Russia
- Orica Australia Pty. Ltd.
- Asmin Koalindo Tuhup - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Bhatia International Limited - India
- Timah Investasi Mineral - Indoneisa
- GN Power Mariveles Coal Plant, Philippines
- Meenaskhi Energy Private Limited - India
- Bhushan Steel Limited - India
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Deloitte Consulting - India
- Gujarat Electricity Regulatory Commission - India
- Tamil Nadu electricity Board
- Interocean Group of Companies - India
- Siam City Cement - Thailand
- CNBM International Corporation - China
- Jindal Steel & Power Ltd - India
- Indogreen Group - Indonesia
- Mercuria Energy - Indonesia
- Kartika Selabumi Mining - Indonesia
- Trasteel International SA, Italy
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Samtan Co., Ltd - South Korea
- Global Coal Blending Company Limited - Australia
- Vedanta Resources Plc - India
- Therma Luzon, Inc, Philippines
- Indian Energy Exchange, India
- Sree Jayajothi Cements Limited - India
- Karaikal Port Pvt Ltd - India
- Wood Mackenzie - Singapore
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Aboitiz Power Corporation - Philippines
- Baramulti Group, Indonesia
- New Zealand Coal & Carbon
- Straits Asia Resources Limited - Singapore
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kumho Petrochemical, South Korea
- International Coal Ventures Pvt Ltd - India
- Africa Commodities Group - South Africa
- Ceylon Electricity Board - Sri Lanka
- Thiess Contractors Indonesia
- Rashtriya Ispat Nigam Limited - India
- Leighton Contractors Pty Ltd - Australia
- Star Paper Mills Limited - India
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Sindya Power Generating Company Private Ltd
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Grasim Industreis Ltd - India
- Tata Chemicals Ltd - India
- Chamber of Mines of South Africa
- Australian Coal Association
- Offshore Bulk Terminal Pte Ltd, Singapore
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- GAC Shipping (India) Pvt Ltd
- Directorate General of MIneral and Coal - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- The University of Queensland
- Vijayanagar Sugar Pvt Ltd - India
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Dalmia Cement Bharat India
- PetroVietnam Power Coal Import and Supply Company
- Kaltim Prima Coal - Indonesia
- Parry Sugars Refinery, India
- Latin American Coal - Colombia
- Mercator Lines Limited - India
- PNOC Exploration Corporation - Philippines
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Videocon Industries ltd - India
- Miang Besar Coal Terminal - Indonesia
- Eastern Energy - Thailand
- Indian Oil Corporation Limited
- Simpson Spence & Young - Indonesia
- Larsen & Toubro Limited - India
- Carbofer General Trading SA - India
- Vizag Seaport Private Limited - India
- Planning Commission, India
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Iligan Light & Power Inc, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Central Java Power - Indonesia
- Petron Corporation, Philippines
- Sinarmas Energy and Mining - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Rio Tinto Coal - Australia
- Chettinad Cement Corporation Ltd - India
- Eastern Coal Council - USA
- Banpu Public Company Limited - Thailand
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Metalloyd Limited - United Kingdom
- Bank of Tokyo Mitsubishi UFJ Ltd
- Jorong Barutama Greston.PT - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- Ministry of Finance - Indonesia
- The Treasury - Australian Government
- Toyota Tsusho Corporation, Japan
- Aditya Birla Group - India
- Oldendorff Carriers - Singapore
- Indonesian Coal Mining Association
- Mintek Dendrill Indonesia
- Uttam Galva Steels Limited - India
- Bhoruka Overseas - Indonesia
- Global Business Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Semirara Mining Corp, Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Coastal Gujarat Power Limited - India
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- Bukit Makmur.PT - Indonesia
- SMG Consultants - Indonesia
- Bulk Trading Sa - Switzerland
- LBH Netherlands Bv - Netherlands
- McConnell Dowell - Australia
- Mjunction Services Limited - India
- Ambuja Cements Ltd - India
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