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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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Friday, 18 November 22
REALITIES OF LOI LIABILITIES - BALTIC EXCHANGE
KNOWLEDGE TO ELEVATE
The cargo misdelivery claim in Trafigura Maritime Logistics Pte Ltd v. Clearlake Shipping Pte Ltd (Miracle Hope) [2022] E ...
Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
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- LBH Netherlands Bv - Netherlands
- Makarim & Taira - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- Antam Resourcindo - Indonesia
- Siam City Cement - Thailand
- Simpson Spence & Young - Indonesia
- Thiess Contractors Indonesia
- Independent Power Producers Association of India
- San Jose City I Power Corp, Philippines
- Parliament of New Zealand
- Deloitte Consulting - India
- Riau Bara Harum - Indonesia
- Cement Manufacturers Association - India
- Coalindo Energy - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Australian Coal Association
- Borneo Indobara - Indonesia
- The University of Queensland
- Singapore Mercantile Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Economic Council, Georgia
- Kohat Cement Company Ltd. - Pakistan
- ICICI Bank Limited - India
- Salva Resources Pvt Ltd - India
- Star Paper Mills Limited - India
- Indian Energy Exchange, India
- Aboitiz Power Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Bayan Resources Tbk. - Indonesia
- ASAPP Information Group - India
- Semirara Mining and Power Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Essar Steel Hazira Ltd - India
- CIMB Investment Bank - Malaysia
- Thai Mozambique Logistica
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- International Coal Ventures Pvt Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Mintek Dendrill Indonesia
- Kumho Petrochemical, South Korea
- Petron Corporation, Philippines
- Rio Tinto Coal - Australia
- PTC India Limited - India
- Kapuas Tunggal Persada - Indonesia
- Indika Energy - Indonesia
- Indonesian Coal Mining Association
- Bangladesh Power Developement Board
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Carbofer General Trading SA - India
- Global Green Power PLC Corporation, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Meralco Power Generation, Philippines
- SMG Consultants - Indonesia
- Bukit Baiduri Energy - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- CNBM International Corporation - China
- Holcim Trading Pte Ltd - Singapore
- Bukit Asam (Persero) Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Posco Energy - South Korea
- Medco Energi Mining Internasional
- Wood Mackenzie - Singapore
- AsiaOL BioFuels Corp., Philippines
- Orica Australia Pty. Ltd.
- Trasteel International SA, Italy
- OPG Power Generation Pvt Ltd - India
- MS Steel International - UAE
- Lanco Infratech Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Mjunction Services Limited - India
- Planning Commission, India
- Heidelberg Cement - Germany
- Directorate Of Revenue Intelligence - India
- Maheswari Brothers Coal Limited - India
- Australian Commodity Traders Exchange
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Larsen & Toubro Limited - India
- Dalmia Cement Bharat India
- Bhushan Steel Limited - India
- Sindya Power Generating Company Private Ltd
- Commonwealth Bank - Australia
- PNOC Exploration Corporation - Philippines
- Ind-Barath Power Infra Limited - India
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Xindia Steels Limited - India
- Jaiprakash Power Ventures ltd
- Ministry of Transport, Egypt
- The State Trading Corporation of India Ltd
- Karaikal Port Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- Edison Trading Spa - Italy
- Sinarmas Energy and Mining - Indonesia
- Coal and Oil Company - UAE
- Tamil Nadu electricity Board
- Alfred C Toepfer International GmbH - Germany
- European Bulk Services B.V. - Netherlands
- Ambuja Cements Ltd - India
- Ministry of Mines - Canada
- Semirara Mining Corp, Philippines
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Romanian Commodities Exchange
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Sarangani Energy Corporation, Philippines
- Merrill Lynch Commodities Europe
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Indian Oil Corporation Limited
- Kideco Jaya Agung - Indonesia
- Uttam Galva Steels Limited - India
- Standard Chartered Bank - UAE
- Orica Mining Services - Indonesia
- Sree Jayajothi Cements Limited - India
- Kartika Selabumi Mining - Indonesia
- SN Aboitiz Power Inc, Philippines
- Bharathi Cement Corporation - India
- Minerals Council of Australia
- Therma Luzon, Inc, Philippines
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Port Waratah Coal Services - Australia
- PowerSource Philippines DevCo
- Jorong Barutama Greston.PT - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Renaissance Capital - South Africa
- Interocean Group of Companies - India
- TNB Fuel Sdn Bhd - Malaysia
- Coastal Gujarat Power Limited - India
- New Zealand Coal & Carbon
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Coal Blending Company Limited - Australia
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Straits Asia Resources Limited - Singapore
- IEA Clean Coal Centre - UK
- Bhatia International Limited - India
- Sakthi Sugars Limited - India
- Gujarat Sidhee Cement - India
- Bhoruka Overseas - Indonesia
- Georgia Ports Authority, United States
- Chamber of Mines of South Africa
- Metalloyd Limited - United Kingdom
- Goldman Sachs - Singapore
- Siam City Cement PLC, Thailand
- Marubeni Corporation - India
- Power Finance Corporation Ltd., India
- Iligan Light & Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- Ministry of Finance - Indonesia
- Timah Investasi Mineral - Indoneisa
- Vizag Seaport Private Limited - India
- Altura Mining Limited, Indonesia
- Asmin Koalindo Tuhup - Indonesia
- Pendopo Energi Batubara - Indonesia
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Energy Link Ltd, New Zealand
- GAC Shipping (India) Pvt Ltd
- Mercator Lines Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Bukit Makmur.PT - Indonesia
- Kaltim Prima Coal - Indonesia
- Latin American Coal - Colombia
- McConnell Dowell - Australia
- Binh Thuan Hamico - Vietnam
- Price Waterhouse Coopers - Russia
- Oldendorff Carriers - Singapore
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Malabar Cements Ltd - India
- VISA Power Limited - India
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Miang Besar Coal Terminal - Indonesia
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- GMR Energy Limited - India
- London Commodity Brokers - England
- Ceylon Electricity Board - Sri Lanka
- Parry Sugars Refinery, India
- Central Electricity Authority - India
- Eastern Coal Council - USA
- Globalindo Alam Lestari - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- South Luzon Thermal Energy Corporation
- India Bulls Power Limited - India
- Formosa Plastics Group - Taiwan
- Baramulti Group, Indonesia
- Samtan Co., Ltd - South Korea
- Electricity Generating Authority of Thailand
- Agrawal Coal Company - India
- Barasentosa Lestari - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- White Energy Company Limited
- Savvy Resources Ltd - HongKong
- Indogreen Group - Indonesia
- Wilmar Investment Holdings
- Maharashtra Electricity Regulatory Commission - India
- Mercuria Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
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