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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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- Salva Resources Pvt Ltd - India
- European Bulk Services B.V. - Netherlands
- Global Coal Blending Company Limited - Australia
- Bayan Resources Tbk. - Indonesia
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Central Java Power - Indonesia
- Vizag Seaport Private Limited - India
- Electricity Authority, New Zealand
- Maheswari Brothers Coal Limited - India
- GAC Shipping (India) Pvt Ltd
- New Zealand Coal & Carbon
- Formosa Plastics Group - Taiwan
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Ministry of Mines - Canada
- Parliament of New Zealand
- Tata Chemicals Ltd - India
- Dalmia Cement Bharat India
- Madhucon Powers Ltd - India
- Thiess Contractors Indonesia
- Kobexindo Tractors - Indoneisa
- PNOC Exploration Corporation - Philippines
- Ambuja Cements Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Australian Coal Association
- Malabar Cements Ltd - India
- Kohat Cement Company Ltd. - Pakistan
- Globalindo Alam Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Posco Energy - South Korea
- Directorate General of MIneral and Coal - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Planning Commission, India
- Samtan Co., Ltd - South Korea
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Kumho Petrochemical, South Korea
- Sakthi Sugars Limited - India
- Trasteel International SA, Italy
- Oldendorff Carriers - Singapore
- Essar Steel Hazira Ltd - India
- Straits Asia Resources Limited - Singapore
- Price Waterhouse Coopers - Russia
- Pipit Mutiara Jaya. PT, Indonesia
- Chamber of Mines of South Africa
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Riau Bara Harum - Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Videocon Industries ltd - India
- Energy Development Corp, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Sojitz Corporation - Japan
- Intertek Mineral Services - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Eastern Coal Council - USA
- Billiton Holdings Pty Ltd - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bukit Baiduri Energy - Indonesia
- Timah Investasi Mineral - Indoneisa
- Bukit Makmur.PT - Indonesia
- Aboitiz Power Corporation - Philippines
- The University of Queensland
- Karbindo Abesyapradhi - Indoneisa
- Energy Link Ltd, New Zealand
- Jorong Barutama Greston.PT - Indonesia
- London Commodity Brokers - England
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- Holcim Trading Pte Ltd - Singapore
- Ministry of Finance - Indonesia
- Mercator Lines Limited - India
- Meenaskhi Energy Private Limited - India
- CIMB Investment Bank - Malaysia
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Standard Chartered Bank - UAE
- Wilmar Investment Holdings
- Siam City Cement - Thailand
- Global Business Power Corporation, Philippines
- Bhushan Steel Limited - India
- Coal and Oil Company - UAE
- Metalloyd Limited - United Kingdom
- Petrochimia International Co. Ltd.- Taiwan
- The State Trading Corporation of India Ltd
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Lanco Infratech Ltd - India
- White Energy Company Limited
- Vedanta Resources Plc - India
- Mintek Dendrill Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Singapore Mercantile Exchange
- Orica Mining Services - Indonesia
- Renaissance Capital - South Africa
- Parry Sugars Refinery, India
- Makarim & Taira - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Indian Oil Corporation Limited
- IEA Clean Coal Centre - UK
- Tamil Nadu electricity Board
- San Jose City I Power Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Indian Energy Exchange, India
- The Treasury - Australian Government
- ICICI Bank Limited - India
- Pendopo Energi Batubara - Indonesia
- Barasentosa Lestari - Indonesia
- Altura Mining Limited, Indonesia
- South Luzon Thermal Energy Corporation
- Port Waratah Coal Services - Australia
- IHS Mccloskey Coal Group - USA
- Manunggal Multi Energi - Indonesia
- Romanian Commodities Exchange
- OPG Power Generation Pvt Ltd - India
- PTC India Limited - India
- Sinarmas Energy and Mining - Indonesia
- Minerals Council of Australia
- Africa Commodities Group - South Africa
- Semirara Mining Corp, Philippines
- Siam City Cement PLC, Thailand
- Karaikal Port Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- India Bulls Power Limited - India
- Binh Thuan Hamico - Vietnam
- Gujarat Electricity Regulatory Commission - India
- Gujarat Sidhee Cement - India
- ASAPP Information Group - India
- Therma Luzon, Inc, Philippines
- Alfred C Toepfer International GmbH - Germany
- Edison Trading Spa - Italy
- McConnell Dowell - Australia
- Indogreen Group - Indonesia
- Jindal Steel & Power Ltd - India
- MS Steel International - UAE
- Ind-Barath Power Infra Limited - India
- Commonwealth Bank - Australia
- Rashtriya Ispat Nigam Limited - India
- Uttam Galva Steels Limited - India
- Toyota Tsusho Corporation, Japan
- TeaM Sual Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Leighton Contractors Pty Ltd - Australia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Grasim Industreis Ltd - India
- Chettinad Cement Corporation Ltd - India
- Petron Corporation, Philippines
- Mjunction Services Limited - India
- Eastern Energy - Thailand
- Indonesian Coal Mining Association
- Bukit Asam (Persero) Tbk - Indonesia
- Merrill Lynch Commodities Europe
- Sarangani Energy Corporation, Philippines
- Gujarat Mineral Development Corp Ltd - India
- Bhatia International Limited - India
- Miang Besar Coal Terminal - Indonesia
- Global Green Power PLC Corporation, Philippines
- Carbofer General Trading SA - India
- Directorate Of Revenue Intelligence - India
- Agrawal Coal Company - India
- AsiaOL BioFuels Corp., Philippines
- Bahari Cakrawala Sebuku - Indonesia
- CNBM International Corporation - China
- Ceylon Electricity Board - Sri Lanka
- Attock Cement Pakistan Limited
- Kaltim Prima Coal - Indonesia
- Borneo Indobara - Indonesia
- Sical Logistics Limited - India
- Kartika Selabumi Mining - Indonesia
- Coalindo Energy - Indonesia
- Electricity Generating Authority of Thailand
- Central Electricity Authority - India
- Kideco Jaya Agung - Indonesia
- Economic Council, Georgia
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Neyveli Lignite Corporation Ltd, - India
- Cigading International Bulk Terminal - Indonesia
- Goldman Sachs - Singapore
- Bangladesh Power Developement Board
- Simpson Spence & Young - Indonesia
- GMR Energy Limited - India
- Semirara Mining and Power Corporation, Philippines
- PowerSource Philippines DevCo
- Coastal Gujarat Power Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Xindia Steels Limited - India
- Bharathi Cement Corporation - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Cement Manufacturers Association - India
- Medco Energi Mining Internasional
- Interocean Group of Companies - India
- Sree Jayajothi Cements Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Antam Resourcindo - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Maharashtra Electricity Regulatory Commission - India
- SN Aboitiz Power Inc, Philippines
- Mercuria Energy - Indonesia
- Deloitte Consulting - India
- Independent Power Producers Association of India
- Heidelberg Cement - Germany
- VISA Power Limited - India
- Latin American Coal - Colombia
- SMG Consultants - Indonesia
- Indika Energy - Indonesia
- SMC Global Power, Philippines
- Marubeni Corporation - India
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