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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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Thursday, 09 November 23
GREEK AND CHINESE COMPANIES OWN 34% OF THE GLOBAL FLEET’S CARGO CAPACITY - BIMCO
“The global fleet of cargo carrying ships consists of around 61,000 ships with a deadweight capacity of about 2,200 million tonnes. The ships ...
Monday, 23 October 23
CHINA SEPT COAL OUTPUT HITS SIX-MONTH HIGH ON RISING POWER DEMAND - REUTERS
China’s September coal output rose 0.4% from August to the highest level since March, official data showed on Wednesday, on rising power dema ...
Monday, 23 October 23
INDIA COAL INVENTORIES DROP AT FASTEST PACE IN TWO YEARS, BOOSTING IMPORTS - REUTERS
Coal inventories at Indian power plants in the first half of October fell at their fastest rate in two years, an analysis of government data showed ...
Tuesday, 19 September 23
LNG SHIPPING STOCKS: THE ASIAN GROWTH UP-INDICES
Last week, the UP World LNG Shipping Index (UPI) gained 3.81 points or 2.51%, closing at 155.85 points. This index tracks the performance of LNG sh ...
Sunday, 10 September 23
GOLDMAN SACHS PREDICTS OIL PRICE TO HIT $100 ON OPEC CUTS - YAHOO FINANCE
Oil supply cuts by Saudi Arabia and Russia could lead to Brent crude jumping as high as $107 a barrel in 2024, Goldman Sachs Commodities Research h ...
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- White Energy Company Limited
- Standard Chartered Bank - UAE
- Jaiprakash Power Ventures ltd
- European Bulk Services B.V. - Netherlands
- Antam Resourcindo - Indonesia
- Ministry of Finance - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Heidelberg Cement - Germany
- Maharashtra Electricity Regulatory Commission - India
- PetroVietnam Power Coal Import and Supply Company
- Central Java Power - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Chettinad Cement Corporation Ltd - India
- Carbofer General Trading SA - India
- Thiess Contractors Indonesia
- Australian Commodity Traders Exchange
- Vizag Seaport Private Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Deloitte Consulting - India
- Bangladesh Power Developement Board
- Coastal Gujarat Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- Gujarat Sidhee Cement - India
- Anglo American - United Kingdom
- Ambuja Cements Ltd - India
- South Luzon Thermal Energy Corporation
- Meenaskhi Energy Private Limited - India
- Sindya Power Generating Company Private Ltd
- Alfred C Toepfer International GmbH - Germany
- McConnell Dowell - Australia
- Merrill Lynch Commodities Europe
- Australian Coal Association
- PTC India Limited - India
- Videocon Industries ltd - India
- Bhoruka Overseas - Indonesia
- OPG Power Generation Pvt Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Globalindo Alam Lestari - Indonesia
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Attock Cement Pakistan Limited
- The Treasury - Australian Government
- TeaM Sual Corporation - Philippines
- Savvy Resources Ltd - HongKong
- Kaltim Prima Coal - Indonesia
- Sojitz Corporation - Japan
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Sree Jayajothi Cements Limited - India
- Kumho Petrochemical, South Korea
- Mercator Lines Limited - India
- LBH Netherlands Bv - Netherlands
- Indika Energy - Indonesia
- Star Paper Mills Limited - India
- Kepco SPC Power Corporation, Philippines
- Thai Mozambique Logistica
- Metalloyd Limited - United Kingdom
- GVK Power & Infra Limited - India
- Sakthi Sugars Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bhushan Steel Limited - India
- TNB Fuel Sdn Bhd - Malaysia
- Power Finance Corporation Ltd., India
- Minerals Council of Australia
- Banpu Public Company Limited - Thailand
- GAC Shipping (India) Pvt Ltd
- Riau Bara Harum - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Eastern Coal Council - USA
- Mercuria Energy - Indonesia
- Electricity Authority, New Zealand
- SMG Consultants - Indonesia
- Kobexindo Tractors - Indoneisa
- Krishnapatnam Port Company Ltd. - India
- Gujarat Electricity Regulatory Commission - India
- ASAPP Information Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Offshore Bulk Terminal Pte Ltd, Singapore
- Global Business Power Corporation, Philippines
- Georgia Ports Authority, United States
- Altura Mining Limited, Indonesia
- Formosa Plastics Group - Taiwan
- PowerSource Philippines DevCo
- Kartika Selabumi Mining - Indonesia
- MS Steel International - UAE
- Straits Asia Resources Limited - Singapore
- Vedanta Resources Plc - India
- Essar Steel Hazira Ltd - India
- Economic Council, Georgia
- Edison Trading Spa - Italy
- Bharathi Cement Corporation - India
- Energy Link Ltd, New Zealand
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- San Jose City I Power Corp, Philippines
- VISA Power Limited - India
- Lanco Infratech Ltd - India
- Eastern Energy - Thailand
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bhatia International Limited - India
- International Coal Ventures Pvt Ltd - India
- Port Waratah Coal Services - Australia
- Wilmar Investment Holdings
- Energy Development Corp, Philippines
- Gujarat Mineral Development Corp Ltd - India
- ICICI Bank Limited - India
- Karaikal Port Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Petron Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Parry Sugars Refinery, India
- Bayan Resources Tbk. - Indonesia
- Commonwealth Bank - Australia
- Semirara Mining and Power Corporation, Philippines
- Orica Mining Services - Indonesia
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Kideco Jaya Agung - Indonesia
- Indogreen Group - Indonesia
- Global Coal Blending Company Limited - Australia
- Trasteel International SA, Italy
- IHS Mccloskey Coal Group - USA
- Meralco Power Generation, Philippines
- Toyota Tsusho Corporation, Japan
- Goldman Sachs - Singapore
- Planning Commission, India
- Karbindo Abesyapradhi - Indoneisa
- Salva Resources Pvt Ltd - India
- Semirara Mining Corp, Philippines
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Miang Besar Coal Terminal - Indonesia
- Electricity Generating Authority of Thailand
- Jindal Steel & Power Ltd - India
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Marubeni Corporation - India
- Kohat Cement Company Ltd. - Pakistan
- The University of Queensland
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Interocean Group of Companies - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Jorong Barutama Greston.PT - Indonesia
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Singapore Mercantile Exchange
- India Bulls Power Limited - India
- Tata Chemicals Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Parliament of New Zealand
- Maheswari Brothers Coal Limited - India
- Sical Logistics Limited - India
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Barasentosa Lestari - Indonesia
- Price Waterhouse Coopers - Russia
- Aditya Birla Group - India
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Larsen & Toubro Limited - India
- Samtan Co., Ltd - South Korea
- SMC Global Power, Philippines
- Central Electricity Authority - India
- Africa Commodities Group - South Africa
- GMR Energy Limited - India
- New Zealand Coal & Carbon
- Holcim Trading Pte Ltd - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Xindia Steels Limited - India
- Directorate Of Revenue Intelligence - India
- Ministry of Transport, Egypt
- Coalindo Energy - Indonesia
- Global Green Power PLC Corporation, Philippines
- Mintek Dendrill Indonesia
- Orica Australia Pty. Ltd.
- Grasim Industreis Ltd - India
- Cement Manufacturers Association - India
- Directorate General of MIneral and Coal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Ind-Barath Power Infra Limited - India
- Billiton Holdings Pty Ltd - Australia
- Simpson Spence & Young - Indonesia
- Borneo Indobara - Indonesia
- Indian Oil Corporation Limited
- Therma Luzon, Inc, Philippines
- CNBM International Corporation - China
- Rio Tinto Coal - Australia
- The State Trading Corporation of India Ltd
- Malabar Cements Ltd - India
- Aboitiz Power Corporation - Philippines
- Indian Energy Exchange, India
- Dalmia Cement Bharat India
- Bukit Baiduri Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- PNOC Exploration Corporation - Philippines
- Indonesian Coal Mining Association
- Iligan Light & Power Inc, Philippines
- Baramulti Group, Indonesia
- Latin American Coal - Colombia
- Medco Energi Mining Internasional
- Tamil Nadu electricity Board
- Pendopo Energi Batubara - Indonesia
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