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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, 16 September 22
WHEN IS A VESSEL'S INCOME EARNING CAPACITY AT RISK? 'CONTROLLED INCOME CAN BE A KEY OF SUCCESS' - MARASCO MARINE
Managing marine risks is not an easy task, which requires special knowledge and expertise on the subject per se. Customarily, big ship management c ...
Friday, 16 September 22
DRY BULK MARKET: EU’S BAN ON RUSSIAN COAL LIFTS DEMAND DESPITE ECONOMIC HEADWINDS - BIMCO
Highlights
– The Baltic Exchange Dry Index (BDI) peaked in late May and has since fallen sharply as lower Chinese demand and adverse glob ...
Friday, 16 September 22
BIMCO EMBARKS ON NEW STANDARD FOR “QUIET ENJOYMENT”
KNOWLEDGE TO ELEVATE
A newly set-up BIMCO drafting team involving a cross-section of shipowners, charterers, financing and leasing i ...
Friday, 16 September 22
INDIAN COAL PRODUCTION TO RISE 150 PER CENT IN 10 YEARS: CENTRE - EXPRESS NEWS SERVICE
The Union Ministry of Mines is expecting 150 per cent growth in coal production 10 years down the line as a result of coal reforms that had been us ...
Thursday, 15 September 22
MARKET INSIGHT - INTERMODAL
While the Organization of Petroleum Exporting Countries and its allies agreed on a 100,000 b/d output cut last week, oil flows are in the spotlight ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- ICICI Bank Limited - India
- Kapuas Tunggal Persada - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Electricity Authority - India
- The State Trading Corporation of India Ltd
- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Energy Link Ltd, New Zealand
- Globalindo Alam Lestari - Indonesia
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Karaikal Port Pvt Ltd - India
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Bhushan Steel Limited - India
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- Sarangani Energy Corporation, Philippines
- Electricity Authority, New Zealand
- Bhatia International Limited - India
- Riau Bara Harum - Indonesia
- Siam City Cement PLC, Thailand
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Mercuria Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Power Finance Corporation Ltd., India
- Coal and Oil Company - UAE
- Sojitz Corporation - Japan
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Metalloyd Limited - United Kingdom
- Kideco Jaya Agung - Indonesia
- Orica Mining Services - Indonesia
- Sakthi Sugars Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- SMG Consultants - Indonesia
- Ministry of Mines - Canada
- Toyota Tsusho Corporation, Japan
- Directorate General of MIneral and Coal - Indonesia
- Ministry of Transport, Egypt
- Deloitte Consulting - India
- Standard Chartered Bank - UAE
- SMC Global Power, Philippines
- Vedanta Resources Plc - India
- Jorong Barutama Greston.PT - Indonesia
- Lanco Infratech Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Ambuja Cements Ltd - India
- Goldman Sachs - Singapore
- Ministry of Finance - Indonesia
- Cement Manufacturers Association - India
- Makarim & Taira - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Altura Mining Limited, Indonesia
- Straits Asia Resources Limited - Singapore
- OPG Power Generation Pvt Ltd - India
- India Bulls Power Limited - India
- Pendopo Energi Batubara - Indonesia
- Wilmar Investment Holdings
- Eastern Coal Council - USA
- Intertek Mineral Services - Indonesia
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- Minerals Council of Australia
- Uttam Galva Steels Limited - India
- Central Java Power - Indonesia
- Kaltim Prima Coal - Indonesia
- Merrill Lynch Commodities Europe
- PTC India Limited - India
- Tamil Nadu electricity Board
- Indo Tambangraya Megah - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kobexindo Tractors - Indoneisa
- Global Business Power Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- New Zealand Coal & Carbon
- Heidelberg Cement - Germany
- Dalmia Cement Bharat India
- Therma Luzon, Inc, Philippines
- Aditya Birla Group - India
- Agrawal Coal Company - India
- TeaM Sual Corporation - Philippines
- Bahari Cakrawala Sebuku - Indonesia
- Price Waterhouse Coopers - Russia
- CNBM International Corporation - China
- Global Coal Blending Company Limited - Australia
- Commonwealth Bank - Australia
- Iligan Light & Power Inc, Philippines
- Antam Resourcindo - Indonesia
- Binh Thuan Hamico - Vietnam
- Ceylon Electricity Board - Sri Lanka
- Jaiprakash Power Ventures ltd
- Meenaskhi Energy Private Limited - India
- Barasentosa Lestari - Indonesia
- Mercator Lines Limited - India
- Attock Cement Pakistan Limited
- IHS Mccloskey Coal Group - USA
- Georgia Ports Authority, United States
- Karbindo Abesyapradhi - Indoneisa
- Meralco Power Generation, Philippines
- MS Steel International - UAE
- Sindya Power Generating Company Private Ltd
- Pipit Mutiara Jaya. PT, Indonesia
- GVK Power & Infra Limited - India
- Electricity Generating Authority of Thailand
- Samtan Co., Ltd - South Korea
- Posco Energy - South Korea
- Wood Mackenzie - Singapore
- Interocean Group of Companies - India
- Anglo American - United Kingdom
- Banpu Public Company Limited - Thailand
- Maharashtra Electricity Regulatory Commission - India
- Bukit Makmur.PT - Indonesia
- Bulk Trading Sa - Switzerland
- PetroVietnam Power Coal Import and Supply Company
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Gujarat Mineral Development Corp Ltd - India
- Indian Energy Exchange, India
- Eastern Energy - Thailand
- London Commodity Brokers - England
- Malabar Cements Ltd - India
- PowerSource Philippines DevCo
- Cigading International Bulk Terminal - Indonesia
- Madhucon Powers Ltd - India
- Star Paper Mills Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Independent Power Producers Association of India
- Coastal Gujarat Power Limited - India
- Directorate Of Revenue Intelligence - India
- The University of Queensland
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Economic Council, Georgia
- Vizag Seaport Private Limited - India
- Grasim Industreis Ltd - India
- Siam City Cement - Thailand
- Essar Steel Hazira Ltd - India
- Jindal Steel & Power Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Billiton Holdings Pty Ltd - Australia
- Australian Coal Association
- Asmin Koalindo Tuhup - Indonesia
- Medco Energi Mining Internasional
- Leighton Contractors Pty Ltd - Australia
- International Coal Ventures Pvt Ltd - India
- Rio Tinto Coal - Australia
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- Formosa Plastics Group - Taiwan
- White Energy Company Limited
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Global Green Power PLC Corporation, Philippines
- Parry Sugars Refinery, India
- Gujarat Sidhee Cement - India
- Semirara Mining and Power Corporation, Philippines
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Parliament of New Zealand
- Indian Oil Corporation Limited
- Baramulti Group, Indonesia
- GAC Shipping (India) Pvt Ltd
- Aboitiz Power Corporation - Philippines
- Sical Logistics Limited - India
- VISA Power Limited - India
- Indonesian Coal Mining Association
- Chamber of Mines of South Africa
- McConnell Dowell - Australia
- Manunggal Multi Energi - Indonesia
- Marubeni Corporation - India
- South Luzon Thermal Energy Corporation
- Oldendorff Carriers - Singapore
- Gujarat Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Bukit Baiduri Energy - Indonesia
- Bangladesh Power Developement Board
- Semirara Mining Corp, Philippines
- Kepco SPC Power Corporation, Philippines
- Edison Trading Spa - Italy
- GMR Energy Limited - India
- Kalimantan Lumbung Energi - Indonesia
- IEA Clean Coal Centre - UK
- Maheswari Brothers Coal Limited - India
- ASAPP Information Group - India
- Port Waratah Coal Services - Australia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- Holcim Trading Pte Ltd - Singapore
- Chettinad Cement Corporation Ltd - India
- Simpson Spence & Young - Indonesia
- Planning Commission, India
- Kohat Cement Company Ltd. - Pakistan
- The Treasury - Australian Government
- Africa Commodities Group - South Africa
- Indogreen Group - Indonesia
- Sree Jayajothi Cements Limited - India
- Ind-Barath Power Infra Limited - India
- Borneo Indobara - Indonesia
- Trasteel International SA, Italy
- Tata Chemicals Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- Kartika Selabumi Mining - Indonesia
- Savvy Resources Ltd - HongKong
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Mjunction Services Limited - India
- Indika Energy - Indonesia
- LBH Netherlands Bv - Netherlands
- Xindia Steels Limited - India
- Petron Corporation, Philippines
- Coalindo Energy - Indonesia
- Salva Resources Pvt Ltd - India
- PNOC Exploration Corporation - Philippines
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