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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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Saturday, 18 March 23
HEDGE TO OFFSET LNG VOLATILITY, TRADERS TOLD - BALTIC EXCHANGE
A shift in imports from Asia to Europe led to significant volatility in liquefied natural gas shipping last year, prompting industry experts to urg ...
Friday, 17 March 23
INDONESIAN COAL PRICE REFERENCE UP AROUND 2.17% IN MARCH 2023
COALspot.com: Indonesian Coal Price Reference up around 2.17% in March 2023.
According to the new HBA regulation No. 41.K/MB.0 ...
Saturday, 11 March 23
MARKET INSIGHT - INTERMODAL
Uncertainty over the recovery of Chinese demand, demand destruction in Europe, as well as weather conditions will pivot the LNG market this summer. ...
Wednesday, 08 March 23
INDONESIAN COAL REFERENCE PRICE FORMULA HAS OFFICIALLY CHANGED
Indonesian Minister of Energy and Mineral Resources has officially changed the guideline for determining the benchmark price for the sale of coal c ...
Thursday, 02 March 23
INDIA'S SEABORNE CRUDE OIL IMPORTS IN 2022 INCREASED BY 11.5% YOY - BANCHERO COSTA
2022 has turned out to be a very positive year for crude oil trade, despite the surging oil prices and risks of economic recession, Banchero Costa ...
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- Parry Sugars Refinery, India
- International Coal Ventures Pvt Ltd - India
- Wilmar Investment Holdings
- Directorate Of Revenue Intelligence - India
- Straits Asia Resources Limited - Singapore
- Bayan Resources Tbk. - Indonesia
- San Jose City I Power Corp, Philippines
- PTC India Limited - India
- Thiess Contractors Indonesia
- Commonwealth Bank - Australia
- Mintek Dendrill Indonesia
- PowerSource Philippines DevCo
- Tamil Nadu electricity Board
- OPG Power Generation Pvt Ltd - India
- Parliament of New Zealand
- Leighton Contractors Pty Ltd - Australia
- Petron Corporation, Philippines
- Africa Commodities Group - South Africa
- Sarangani Energy Corporation, Philippines
- Makarim & Taira - Indonesia
- IEA Clean Coal Centre - UK
- Australian Commodity Traders Exchange
- Metalloyd Limited - United Kingdom
- Manunggal Multi Energi - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Meralco Power Generation, Philippines
- Georgia Ports Authority, United States
- TeaM Sual Corporation - Philippines
- Coal and Oil Company - UAE
- Energy Development Corp, Philippines
- Latin American Coal - Colombia
- Jorong Barutama Greston.PT - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Salva Resources Pvt Ltd - India
- Karaikal Port Pvt Ltd - India
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- SMC Global Power, Philippines
- Kaltim Prima Coal - Indonesia
- GAC Shipping (India) Pvt Ltd
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Chettinad Cement Corporation Ltd - India
- Independent Power Producers Association of India
- CIMB Investment Bank - Malaysia
- Semirara Mining Corp, Philippines
- Videocon Industries ltd - India
- Larsen & Toubro Limited - India
- London Commodity Brokers - England
- Electricity Authority, New Zealand
- Kohat Cement Company Ltd. - Pakistan
- Savvy Resources Ltd - HongKong
- VISA Power Limited - India
- Indian Energy Exchange, India
- Mjunction Services Limited - India
- Renaissance Capital - South Africa
- Marubeni Corporation - India
- GMR Energy Limited - India
- Sakthi Sugars Limited - India
- Samtan Co., Ltd - South Korea
- European Bulk Services B.V. - Netherlands
- Neyveli Lignite Corporation Ltd, - India
- Lanco Infratech Ltd - India
- Singapore Mercantile Exchange
- Edison Trading Spa - Italy
- Jaiprakash Power Ventures ltd
- Central Java Power - Indonesia
- Indika Energy - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- The Treasury - Australian Government
- Australian Coal Association
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- Ceylon Electricity Board - Sri Lanka
- Gujarat Mineral Development Corp Ltd - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Holcim Trading Pte Ltd - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Sree Jayajothi Cements Limited - India
- Alfred C Toepfer International GmbH - Germany
- Meenaskhi Energy Private Limited - India
- Kepco SPC Power Corporation, Philippines
- Barasentosa Lestari - Indonesia
- Borneo Indobara - Indonesia
- Gujarat Sidhee Cement - India
- Pendopo Energi Batubara - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- IHS Mccloskey Coal Group - USA
- Eastern Coal Council - USA
- Planning Commission, India
- Baramulti Group, Indonesia
- Indian Oil Corporation Limited
- GVK Power & Infra Limited - India
- Price Waterhouse Coopers - Russia
- Kartika Selabumi Mining - Indonesia
- Grasim Industreis Ltd - India
- Bulk Trading Sa - Switzerland
- Maharashtra Electricity Regulatory Commission - India
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Malabar Cements Ltd - India
- Jindal Steel & Power Ltd - India
- The State Trading Corporation of India Ltd
- CNBM International Corporation - China
- Eastern Energy - Thailand
- Minerals Council of Australia
- Kapuas Tunggal Persada - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Ministry of Transport, Egypt
- Posco Energy - South Korea
- Ambuja Cements Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Cigading International Bulk Terminal - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Siam City Cement PLC, Thailand
- Merrill Lynch Commodities Europe
- ICICI Bank Limited - India
- Mercator Lines Limited - India
- Standard Chartered Bank - UAE
- Indogreen Group - Indonesia
- Power Finance Corporation Ltd., India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Vizag Seaport Private Limited - India
- New Zealand Coal & Carbon
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Bharathi Cement Corporation - India
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Banpu Public Company Limited - Thailand
- India Bulls Power Limited - India
- Maheswari Brothers Coal Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Indo Tambangraya Megah - Indonesia
- MS Steel International - UAE
- Economic Council, Georgia
- SMG Consultants - Indonesia
- Kumho Petrochemical, South Korea
- Port Waratah Coal Services - Australia
- Thai Mozambique Logistica
- Energy Link Ltd, New Zealand
- Orica Australia Pty. Ltd.
- Simpson Spence & Young - Indonesia
- Anglo American - United Kingdom
- Madhucon Powers Ltd - India
- Electricity Generating Authority of Thailand
- Kobexindo Tractors - Indoneisa
- Aboitiz Power Corporation - Philippines
- Kideco Jaya Agung - Indonesia
- Globalindo Alam Lestari - Indonesia
- Riau Bara Harum - Indonesia
- Heidelberg Cement - Germany
- Timah Investasi Mineral - Indoneisa
- Global Coal Blending Company Limited - Australia
- GN Power Mariveles Coal Plant, Philippines
- Bhoruka Overseas - Indonesia
- Central Electricity Authority - India
- Sinarmas Energy and Mining - Indonesia
- Agrawal Coal Company - India
- Altura Mining Limited, Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- South Luzon Thermal Energy Corporation
- Ind-Barath Power Infra Limited - India
- Rashtriya Ispat Nigam Limited - India
- Ministry of Finance - Indonesia
- Bukit Baiduri Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Romanian Commodities Exchange
- Bhushan Steel Limited - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Global Business Power Corporation, Philippines
- Toyota Tsusho Corporation, Japan
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- White Energy Company Limited
- Interocean Group of Companies - India
- Deloitte Consulting - India
- The University of Queensland
- Cement Manufacturers Association - India
- Rio Tinto Coal - Australia
- Dalmia Cement Bharat India
- Oldendorff Carriers - Singapore
- Mercuria Energy - Indonesia
- Uttam Galva Steels Limited - India
- Aditya Birla Group - India
- Binh Thuan Hamico - Vietnam
- ASAPP Information Group - India
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Coalindo Energy - Indonesia
- Tata Chemicals Ltd - India
- Bukit Makmur.PT - Indonesia
- Sindya Power Generating Company Private Ltd
- Xindia Steels Limited - India
- Semirara Mining and Power Corporation, Philippines
- Chamber of Mines of South Africa
- SN Aboitiz Power Inc, Philippines
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- McConnell Dowell - Australia
- Vedanta Resources Plc - India
- Carbofer General Trading SA - India
- Formosa Plastics Group - Taiwan
- Goldman Sachs - Singapore
- Attock Cement Pakistan Limited
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