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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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Tuesday, 11 April 23
OIL RISES ON CHINA STIMULUS EXPECTATIONS, WEAKER DOLLAR - REUTERS
Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude sto ...
Sunday, 09 April 23
CHINA’S BUSINESS INCOME REBOUND POINTS TO IMPROVING ECONOMY: OFFICIAL - XINHUA
Chinese businesses have posted a strong rebound in sales revenue since the beginning of this year in the latest signal of an improving economy.
...
Sunday, 09 April 23
COAL INDIA TO BOOST SUPPLIES TO INDUSTRIES AS UTILITIES’ INVENTORIES RISE - REUTERS
Coal India Ltd will increase supplies to industries, the world’s largest coal miner said on Wednesday as fuel inventories at utilities run by ...
Thursday, 06 April 23
MARKET INSIGHT - INTERMODAL
LNG Current Supply/Demand Dynamics
This year, LNG supply will likely exceed demand, so prices will need to decline to levels that will encourag ...
Sunday, 26 March 23
EUROPE’S RUSH TO LNG COULD TURN INTO 'WORLD’S MOST EXPENSIVE AND UNNECESSARY INSURANCE POLICY'- CNBC
Europe’s rapid buildout of liquefied natural gas infrastructure is on track to far exceed demand by the end of the decade, according to new r ...
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- PowerSource Philippines DevCo
- Deloitte Consulting - India
- Larsen & Toubro Limited - India
- Leighton Contractors Pty Ltd - Australia
- Indian Oil Corporation Limited
- Uttam Galva Steels Limited - India
- Posco Energy - South Korea
- The Treasury - Australian Government
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Makarim & Taira - Indonesia
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Karbindo Abesyapradhi - Indoneisa
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Wilmar Investment Holdings
- MS Steel International - UAE
- PNOC Exploration Corporation - Philippines
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- McConnell Dowell - Australia
- Kohat Cement Company Ltd. - Pakistan
- Videocon Industries ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Ceylon Electricity Board - Sri Lanka
- Bukit Makmur.PT - Indonesia
- Coastal Gujarat Power Limited - India
- TeaM Sual Corporation - Philippines
- The State Trading Corporation of India Ltd
- CIMB Investment Bank - Malaysia
- European Bulk Services B.V. - Netherlands
- Georgia Ports Authority, United States
- Madhucon Powers Ltd - India
- Mercator Lines Limited - India
- Ministry of Finance - Indonesia
- Latin American Coal - Colombia
- Indo Tambangraya Megah - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Pendopo Energi Batubara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sarangani Energy Corporation, Philippines
- Vedanta Resources Plc - India
- The University of Queensland
- Indogreen Group - Indonesia
- Meenaskhi Energy Private Limited - India
- Samtan Co., Ltd - South Korea
- Thiess Contractors Indonesia
- AsiaOL BioFuels Corp., Philippines
- Global Business Power Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Tamil Nadu electricity Board
- Indonesian Coal Mining Association
- San Jose City I Power Corp, Philippines
- London Commodity Brokers - England
- Metalloyd Limited - United Kingdom
- Chettinad Cement Corporation Ltd - India
- Edison Trading Spa - Italy
- Australian Coal Association
- Globalindo Alam Lestari - Indonesia
- Simpson Spence & Young - Indonesia
- Antam Resourcindo - Indonesia
- Kobexindo Tractors - Indoneisa
- SMG Consultants - Indonesia
- Price Waterhouse Coopers - Russia
- Orica Mining Services - Indonesia
- Bulk Trading Sa - Switzerland
- Indian Energy Exchange, India
- Siam City Cement - Thailand
- Vijayanagar Sugar Pvt Ltd - India
- Standard Chartered Bank - UAE
- Holcim Trading Pte Ltd - Singapore
- Goldman Sachs - Singapore
- Anglo American - United Kingdom
- Aditya Birla Group - India
- Sree Jayajothi Cements Limited - India
- Renaissance Capital - South Africa
- Manunggal Multi Energi - Indonesia
- Ind-Barath Power Infra Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Intertek Mineral Services - Indonesia
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Vizag Seaport Private Limited - India
- Bhushan Steel Limited - India
- Oldendorff Carriers - Singapore
- Planning Commission, India
- Mintek Dendrill Indonesia
- Economic Council, Georgia
- ICICI Bank Limited - India
- Billiton Holdings Pty Ltd - Australia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Mjunction Services Limited - India
- Kumho Petrochemical, South Korea
- Kepco SPC Power Corporation, Philippines
- Attock Cement Pakistan Limited
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Lanco Infratech Ltd - India
- Kartika Selabumi Mining - Indonesia
- Energy Link Ltd, New Zealand
- Malabar Cements Ltd - India
- Marubeni Corporation - India
- Electricity Authority, New Zealand
- Kideco Jaya Agung - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kapuas Tunggal Persada - Indonesia
- Bhoruka Overseas - Indonesia
- ASAPP Information Group - India
- Krishnapatnam Port Company Ltd. - India
- Electricity Generating Authority of Thailand
- Ministry of Transport, Egypt
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Interocean Group of Companies - India
- Savvy Resources Ltd - HongKong
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Aboitiz Power Corporation - Philippines
- LBH Netherlands Bv - Netherlands
- Independent Power Producers Association of India
- Salva Resources Pvt Ltd - India
- Parliament of New Zealand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Sojitz Corporation - Japan
- Global Coal Blending Company Limited - Australia
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Formosa Plastics Group - Taiwan
- Sakthi Sugars Limited - India
- CNBM International Corporation - China
- Central Electricity Authority - India
- Iligan Light & Power Inc, Philippines
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- Pipit Mutiara Jaya. PT, Indonesia
- Mercuria Energy - Indonesia
- GMR Energy Limited - India
- Thai Mozambique Logistica
- Altura Mining Limited, Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Bhatia International Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Grasim Industreis Ltd - India
- VISA Power Limited - India
- Essar Steel Hazira Ltd - India
- Directorate Of Revenue Intelligence - India
- Jindal Steel & Power Ltd - India
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- IEA Clean Coal Centre - UK
- Kalimantan Lumbung Energi - Indonesia
- Agrawal Coal Company - India
- Therma Luzon, Inc, Philippines
- Star Paper Mills Limited - India
- Meralco Power Generation, Philippines
- Riau Bara Harum - Indonesia
- GAC Shipping (India) Pvt Ltd
- Petron Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Chamber of Mines of South Africa
- Romanian Commodities Exchange
- Commonwealth Bank - Australia
- Semirara Mining Corp, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Coal and Oil Company - UAE
- Trasteel International SA, Italy
- Gujarat Electricity Regulatory Commission - India
- Petrochimia International Co. Ltd.- Taiwan
- OPG Power Generation Pvt Ltd - India
- Baramulti Group, Indonesia
- South Luzon Thermal Energy Corporation
- Parry Sugars Refinery, India
- Binh Thuan Hamico - Vietnam
- Ministry of Mines - Canada
- Eastern Coal Council - USA
- Sindya Power Generating Company Private Ltd
- PTC India Limited - India
- White Energy Company Limited
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- Global Green Power PLC Corporation, Philippines
- Semirara Mining and Power Corporation, Philippines
- Timah Investasi Mineral - Indoneisa
- Port Waratah Coal Services - Australia
- New Zealand Coal & Carbon
- Power Finance Corporation Ltd., India
- SMC Global Power, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tata Chemicals Ltd - India
- Ambuja Cements Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Cement Manufacturers Association - India
- Indika Energy - Indonesia
- Karaikal Port Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Coalindo Energy - Indonesia
- Jaiprakash Power Ventures ltd
- SN Aboitiz Power Inc, Philippines
- Australian Commodity Traders Exchange
- Orica Australia Pty. Ltd.
- International Coal Ventures Pvt Ltd - India
- Siam City Cement PLC, Thailand
- India Bulls Power Limited - India
- Sinarmas Energy and Mining - Indonesia
- Eastern Energy - Thailand
- Africa Commodities Group - South Africa
- Carbofer General Trading SA - India
- Offshore Bulk Terminal Pte Ltd, Singapore
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