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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, 13 October 22
OPEC DOWNGRADES CRUDE OIL DEMAND, AS WORLD ECONOMY ENTERS SLOWDOWN
Crude Oil Price Movements
The OPEC Reference Basket (ORB) declined m-o-m by $6.58 in September, or 6.5%, to average $95.32/b. Pressure from equ ...
Wednesday, 12 October 22
MARKET INSIGHT - INTERMODAL
Sale and Purchase activity during the first three quarters of 2022 has been remarkable.
Focusing only on Tankers and Bulkers, such v ...
Monday, 10 October 22
ENERGY TRANSITION BOOSTS GLOBAL LONG-TERM DEMAND FOR METALS - FITCH RATINGS
The energy transition will significantly increase demand for metals used in manufacturing of electric vehicles (EVs) and renewable power generation ...
Monday, 10 October 22
GLOBAL CEOS EXPECT IMPENDING RECESSION TO BE 'SHORT AND SHARP,' POLL SHOWS - CNBC
Global CEOs are anticipating a recession in the next 12 months, according to a new survey by professional services firm KPMG, which said more than ...
Thursday, 06 October 22
AUSTRALIA’S RESOURCES REVENUE TO HIT RECORD AMID UKRAINE CONFLICT - REUTERS
Australian resources and energy export earnings are forecast to jump 7% to a record A$450 billion ($290 billion) this fiscal year, bolstered by soa ...
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- ICICI Bank Limited - India
- Parry Sugars Refinery, India
- Energy Development Corp, Philippines
- Bhoruka Overseas - Indonesia
- Eastern Coal Council - USA
- Riau Bara Harum - Indonesia
- SMG Consultants - Indonesia
- Kepco SPC Power Corporation, Philippines
- Ministry of Transport, Egypt
- Bharathi Cement Corporation - India
- Timah Investasi Mineral - Indoneisa
- Alfred C Toepfer International GmbH - Germany
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Global Green Power PLC Corporation, Philippines
- Straits Asia Resources Limited - Singapore
- SMC Global Power, Philippines
- International Coal Ventures Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- India Bulls Power Limited - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Electricity Generating Authority of Thailand
- PetroVietnam Power Coal Import and Supply Company
- Trasteel International SA, Italy
- Africa Commodities Group - South Africa
- Coal and Oil Company - UAE
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Bhushan Steel Limited - India
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Mercuria Energy - Indonesia
- Aboitiz Power Corporation - Philippines
- IHS Mccloskey Coal Group - USA
- Jorong Barutama Greston.PT - Indonesia
- Binh Thuan Hamico - Vietnam
- Pendopo Energi Batubara - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Power Finance Corporation Ltd., India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Global Business Power Corporation, Philippines
- Meralco Power Generation, Philippines
- Latin American Coal - Colombia
- Samtan Co., Ltd - South Korea
- Orica Australia Pty. Ltd.
- Wood Mackenzie - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bahari Cakrawala Sebuku - Indonesia
- Eastern Energy - Thailand
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- South Luzon Thermal Energy Corporation
- Chettinad Cement Corporation Ltd - India
- PowerSource Philippines DevCo
- CIMB Investment Bank - Malaysia
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Semirara Mining Corp, Philippines
- Ceylon Electricity Board - Sri Lanka
- Maharashtra Electricity Regulatory Commission - India
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- Edison Trading Spa - Italy
- Leighton Contractors Pty Ltd - Australia
- Bukit Makmur.PT - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Mercator Lines Limited - India
- Kaltim Prima Coal - Indonesia
- Indonesian Coal Mining Association
- Banpu Public Company Limited - Thailand
- New Zealand Coal & Carbon
- IEA Clean Coal Centre - UK
- Salva Resources Pvt Ltd - India
- Lanco Infratech Ltd - India
- Independent Power Producers Association of India
- Sinarmas Energy and Mining - Indonesia
- Parliament of New Zealand
- Makarim & Taira - Indonesia
- Port Waratah Coal Services - Australia
- Jaiprakash Power Ventures ltd
- Posco Energy - South Korea
- LBH Netherlands Bv - Netherlands
- Iligan Light & Power Inc, Philippines
- Grasim Industreis Ltd - India
- Kumho Petrochemical, South Korea
- Globalindo Alam Lestari - Indonesia
- Economic Council, Georgia
- PNOC Exploration Corporation - Philippines
- Electricity Authority, New Zealand
- London Commodity Brokers - England
- Karaikal Port Pvt Ltd - India
- PTC India Limited - India
- Energy Link Ltd, New Zealand
- Agrawal Coal Company - India
- Oldendorff Carriers - Singapore
- VISA Power Limited - India
- GMR Energy Limited - India
- Baramulti Group, Indonesia
- MS Steel International - UAE
- Meenaskhi Energy Private Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Madhucon Powers Ltd - India
- Uttam Galva Steels Limited - India
- Ministry of Mines - Canada
- Marubeni Corporation - India
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Manunggal Multi Energi - Indonesia
- Sakthi Sugars Limited - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Chamber of Mines of South Africa
- Semirara Mining and Power Corporation, Philippines
- Ind-Barath Power Infra Limited - India
- Romanian Commodities Exchange
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Savvy Resources Ltd - HongKong
- Deloitte Consulting - India
- Wilmar Investment Holdings
- Planning Commission, India
- Holcim Trading Pte Ltd - Singapore
- Bukit Baiduri Energy - Indonesia
- SN Aboitiz Power Inc, Philippines
- Indika Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Heidelberg Cement - Germany
- Ministry of Finance - Indonesia
- Sojitz Corporation - Japan
- Kalimantan Lumbung Energi - Indonesia
- Siam City Cement - Thailand
- GVK Power & Infra Limited - India
- Directorate General of MIneral and Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Bhatia International Limited - India
- Cigading International Bulk Terminal - Indonesia
- Rio Tinto Coal - Australia
- Minerals Council of Australia
- Siam City Cement PLC, Thailand
- Tamil Nadu electricity Board
- Orica Mining Services - Indonesia
- Cement Manufacturers Association - India
- Mjunction Services Limited - India
- Sree Jayajothi Cements Limited - India
- TeaM Sual Corporation - Philippines
- ASAPP Information Group - India
- Thiess Contractors Indonesia
- Price Waterhouse Coopers - Russia
- Sical Logistics Limited - India
- Krishnapatnam Port Company Ltd. - India
- Interocean Group of Companies - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Indogreen Group - Indonesia
- Georgia Ports Authority, United States
- Star Paper Mills Limited - India
- Borneo Indobara - Indonesia
- The Treasury - Australian Government
- Aditya Birla Group - India
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Indian Oil Corporation Limited
- AsiaOL BioFuels Corp., Philippines
- Videocon Industries ltd - India
- Renaissance Capital - South Africa
- Intertek Mineral Services - Indonesia
- Altura Mining Limited, Indonesia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Mintek Dendrill Indonesia
- Commonwealth Bank - Australia
- Vedanta Resources Plc - India
- Vizag Seaport Private Limited - India
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Global Coal Blending Company Limited - Australia
- Formosa Plastics Group - Taiwan
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Singapore Mercantile Exchange
- Attock Cement Pakistan Limited
- Larsen & Toubro Limited - India
- Tata Chemicals Ltd - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Standard Chartered Bank - UAE
- Indian Energy Exchange, India
- Coalindo Energy - Indonesia
- Central Java Power - Indonesia
- Central Electricity Authority - India
- The University of Queensland
- Goldman Sachs - Singapore
- Toyota Tsusho Corporation, Japan
- Bangladesh Power Developement Board
- San Jose City I Power Corp, Philippines
- Kideco Jaya Agung - Indonesia
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Thai Mozambique Logistica
- European Bulk Services B.V. - Netherlands
- Barasentosa Lestari - Indonesia
- Dalmia Cement Bharat India
- Neyveli Lignite Corporation Ltd, - India
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Pipit Mutiara Jaya. PT, Indonesia
- Merrill Lynch Commodities Europe
- Therma Luzon, Inc, Philippines
- Australian Commodity Traders Exchange
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