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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, 02 March 23
DRY BULK MARKET: THE WAY CHINA GOES, SO GOES THE MARKET - BIMCO
We expect demand growth within the 1.5-2.5% range in 2023, driven by China’s economic recovery. Improvements in consumer sentiment should hel ...
Thursday, 02 March 23
INDIA, CHINA DEMAND BOOST LOW-RANK THERMAL COAL PRICES IN ASIA - RUSSELL, REUTERS
Signs of stronger import demand from India have arrested the decline in price of the thermal coal grades most commonly sought by the world’s ...
Thursday, 02 March 23
INDIA CHEERS THE RETURN OF ‘KING COAL’ AS INDUSTRY SEES BUOYANT FUTURE - REUTERS
India’s coal industry celebrated the return of its major conference after a three-year pandemic hiatus by presenting a bullish view of demand ...
Wednesday, 01 March 23
GEO CONNECT ASIA RETURNS IN MARCH TO ACCELERATE THE REGION’S GEOSPATIAL AND LOCATION INTELLIGENCE CAPABILITIES
Press Release: The third edition of GCA will be held in conjunction with Digital Construction Asia and the inaugural Drones Asia – an event d ...
Wednesday, 01 March 23
THE DECLINE IN THE COAL PRICE SINCE THE BEGINNING OF THE YEAR HAS BEEN SIGNIFICANT - INTERMODAL
Last week, the front-month API2 future rose by 3.5%, but since the beginning of the year the future has fallen by 39% to $136.65/t, while the Newca ...
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- Therma Luzon, Inc, Philippines
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- Savvy Resources Ltd - HongKong
- Karbindo Abesyapradhi - Indoneisa
- Indika Energy - Indonesia
- Iligan Light & Power Inc, Philippines
- Sarangani Energy Corporation, Philippines
- Interocean Group of Companies - India
- Kaltim Prima Coal - Indonesia
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Metalloyd Limited - United Kingdom
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Intertek Mineral Services - Indonesia
- Kartika Selabumi Mining - Indonesia
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- The University of Queensland
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Krishnapatnam Port Company Ltd. - India
- Bharathi Cement Corporation - India
- TeaM Sual Corporation - Philippines
- Oldendorff Carriers - Singapore
- Petrochimia International Co. Ltd.- Taiwan
- Straits Asia Resources Limited - Singapore
- VISA Power Limited - India
- PTC India Limited - India
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Miang Besar Coal Terminal - Indonesia
- Carbofer General Trading SA - India
- Meralco Power Generation, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Merrill Lynch Commodities Europe
- Sical Logistics Limited - India
- Orica Australia Pty. Ltd.
- Orica Mining Services - Indonesia
- Global Green Power PLC Corporation, Philippines
- Romanian Commodities Exchange
- Central Electricity Authority - India
- Larsen & Toubro Limited - India
- Essar Steel Hazira Ltd - India
- Holcim Trading Pte Ltd - Singapore
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- GN Power Mariveles Coal Plant, Philippines
- PowerSource Philippines DevCo
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Minerals Council of Australia
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- Lanco Infratech Ltd - India
- Price Waterhouse Coopers - Russia
- Madhucon Powers Ltd - India
- GVK Power & Infra Limited - India
- Mjunction Services Limited - India
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- Globalindo Alam Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Standard Chartered Bank - UAE
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Bangladesh Power Developement Board
- Cement Manufacturers Association - India
- TNB Fuel Sdn Bhd - Malaysia
- Bahari Cakrawala Sebuku - Indonesia
- Samtan Co., Ltd - South Korea
- Kobexindo Tractors - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- AsiaOL BioFuels Corp., Philippines
- MS Steel International - UAE
- Renaissance Capital - South Africa
- Maharashtra Electricity Regulatory Commission - India
- Ind-Barath Power Infra Limited - India
- Jaiprakash Power Ventures ltd
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Electricity Generating Authority of Thailand
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Africa Commodities Group - South Africa
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Sindya Power Generating Company Private Ltd
- Deloitte Consulting - India
- Semirara Mining and Power Corporation, Philippines
- Aditya Birla Group - India
- Malabar Cements Ltd - India
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Heidelberg Cement - Germany
- Bukit Makmur.PT - Indonesia
- London Commodity Brokers - England
- Indian Energy Exchange, India
- Cigading International Bulk Terminal - Indonesia
- Meenaskhi Energy Private Limited - India
- Goldman Sachs - Singapore
- Commonwealth Bank - Australia
- CNBM International Corporation - China
- SN Aboitiz Power Inc, Philippines
- Ministry of Transport, Egypt
- Economic Council, Georgia
- Manunggal Multi Energi - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Parliament of New Zealand
- Vijayanagar Sugar Pvt Ltd - India
- Banpu Public Company Limited - Thailand
- Toyota Tsusho Corporation, Japan
- Bulk Trading Sa - Switzerland
- Mintek Dendrill Indonesia
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- Jorong Barutama Greston.PT - Indonesia
- Bukit Baiduri Energy - Indonesia
- Eastern Coal Council - USA
- Offshore Bulk Terminal Pte Ltd, Singapore
- Power Finance Corporation Ltd., India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Uttam Galva Steels Limited - India
- Bayan Resources Tbk. - Indonesia
- Sojitz Corporation - Japan
- Siam City Cement - Thailand
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Leighton Contractors Pty Ltd - Australia
- Tamil Nadu electricity Board
- Coal and Oil Company - UAE
- Timah Investasi Mineral - Indoneisa
- Posco Energy - South Korea
- Thiess Contractors Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Aboitiz Power Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- Indonesian Coal Mining Association
- Trasteel International SA, Italy
- Eastern Energy - Thailand
- Edison Trading Spa - Italy
- Medco Energi Mining Internasional
- Petron Corporation, Philippines
- White Energy Company Limited
- Global Business Power Corporation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Pendopo Energi Batubara - Indonesia
- International Coal Ventures Pvt Ltd - India
- Riau Bara Harum - Indonesia
- Ambuja Cements Ltd - India
- McConnell Dowell - Australia
- GMR Energy Limited - India
- Chamber of Mines of South Africa
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- San Jose City I Power Corp, Philippines
- Altura Mining Limited, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mercator Lines Limited - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Agrawal Coal Company - India
- Global Coal Blending Company Limited - Australia
- Star Paper Mills Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Sakthi Sugars Limited - India
- Salva Resources Pvt Ltd - India
- Kapuas Tunggal Persada - Indonesia
- IHS Mccloskey Coal Group - USA
- Pipit Mutiara Jaya. PT, Indonesia
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- Barasentosa Lestari - Indonesia
- Jindal Steel & Power Ltd - India
- European Bulk Services B.V. - Netherlands
- Sinarmas Energy and Mining - Indonesia
- Ministry of Mines - Canada
- OPG Power Generation Pvt Ltd - India
- Bhushan Steel Limited - India
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Sree Jayajothi Cements Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Borneo Indobara - Indonesia
- Kumho Petrochemical, South Korea
- PNOC Exploration Corporation - Philippines
- Rashtriya Ispat Nigam Limited - India
- Planning Commission, India
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Indo Tambangraya Megah - Indonesia
- Independent Power Producers Association of India
- Simpson Spence & Young - Indonesia
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Makarim & Taira - Indonesia
- New Zealand Coal & Carbon
- South Luzon Thermal Energy Corporation
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