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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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Tuesday, 23 August 22
SHIPPING INDUSTRY TO REMOVE THE INDIAN OCEAN HIGH RISK AREA - BIMCO
After more than a decade of effective threat-reducing counter-piracy operations the shipping industry has removed the ‘Indian Ocean High Risk ...
Tuesday, 23 August 22
SHIPPING: GLOBAL TAX REFORM - WATSON FARLEY & WILLIAMS
OECD rules designed to implement a global minimum corporate tax rate for very large multinational groups have now been published and are expected t ...
Tuesday, 23 August 22
PARTIES CONCLUDE JOINT R&D AGREEMENT FOR WORLD’S FIRST AMMONIA FLOATING STORAGE AND REGASIFICATION BARGE CONTRIBUTING TO PROMOTING THE EARLY INTRODUCTION OF AMMONIA FUEL - NYK
NYK Line, Nihon Shipyard Co., Ltd. (NSY), ClassNK, and IHI Corporation (IHI) signed a joint research and development agreement for the commercializ ...
Monday, 22 August 22
INDONESIAN GOVERNMENT IMPOSED ON NEW PROGRESSIVE ROYALTIES FOR COAL
Indonesian President Joko Widodo has signed a Government Regulation (Number 26 of 2022) on 15 August 2022 related to the progressive royalty rates ...
Monday, 22 August 22
CHINA'S JULY RUSSIAN COAL IMPORTS HIT 5-YR HIGH AS WEST SHUNS MOSCOW - REUTERS
China’s coal imports from Russia jumped 14% in July from a year earlier to their highest in at least five years, as China bought discounted c ...
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- Vijayanagar Sugar Pvt Ltd - India
- Latin American Coal - Colombia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Planning Commission, India
- GVK Power & Infra Limited - India
- Intertek Mineral Services - Indonesia
- Ministry of Mines - Canada
- Edison Trading Spa - Italy
- Meenaskhi Energy Private Limited - India
- Jindal Steel & Power Ltd - India
- CNBM International Corporation - China
- LBH Netherlands Bv - Netherlands
- Ind-Barath Power Infra Limited - India
- Straits Asia Resources Limited - Singapore
- Port Waratah Coal Services - Australia
- Mjunction Services Limited - India
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Rio Tinto Coal - Australia
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Price Waterhouse Coopers - Russia
- Tata Chemicals Ltd - India
- Central Java Power - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Electricity Generating Authority of Thailand
- Posco Energy - South Korea
- Savvy Resources Ltd - HongKong
- Orica Australia Pty. Ltd.
- Ceylon Electricity Board - Sri Lanka
- ASAPP Information Group - India
- Siam City Cement - Thailand
- McConnell Dowell - Australia
- Baramulti Group, Indonesia
- Toyota Tsusho Corporation, Japan
- Leighton Contractors Pty Ltd - Australia
- Ministry of Finance - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Indian Energy Exchange, India
- Petrochimia International Co. Ltd.- Taiwan
- Chamber of Mines of South Africa
- Africa Commodities Group - South Africa
- Simpson Spence & Young - Indonesia
- Heidelberg Cement - Germany
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Dalmia Cement Bharat India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Baiduri Energy - Indonesia
- Kideco Jaya Agung - Indonesia
- Sojitz Corporation - Japan
- Kepco SPC Power Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Banpu Public Company Limited - Thailand
- Sinarmas Energy and Mining - Indonesia
- Standard Chartered Bank - UAE
- Metalloyd Limited - United Kingdom
- Renaissance Capital - South Africa
- Kaltim Prima Coal - Indonesia
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Bangladesh Power Developement Board
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Essar Steel Hazira Ltd - India
- South Luzon Thermal Energy Corporation
- Gujarat Sidhee Cement - India
- PTC India Limited - India
- Indo Tambangraya Megah - Indonesia
- Bhoruka Overseas - Indonesia
- Siam City Cement PLC, Thailand
- Sical Logistics Limited - India
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Miang Besar Coal Terminal - Indonesia
- Larsen & Toubro Limited - India
- Holcim Trading Pte Ltd - Singapore
- Pendopo Energi Batubara - Indonesia
- CIMB Investment Bank - Malaysia
- GAC Shipping (India) Pvt Ltd
- PowerSource Philippines DevCo
- Bank of Tokyo Mitsubishi UFJ Ltd
- Georgia Ports Authority, United States
- Australian Commodity Traders Exchange
- Gujarat Electricity Regulatory Commission - India
- Malabar Cements Ltd - India
- Australian Coal Association
- PNOC Exploration Corporation - Philippines
- Cigading International Bulk Terminal - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Bukit Makmur.PT - Indonesia
- International Coal Ventures Pvt Ltd - India
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Vedanta Resources Plc - India
- Sakthi Sugars Limited - India
- Aditya Birla Group - India
- Bhushan Steel Limited - India
- Krishnapatnam Port Company Ltd. - India
- Minerals Council of Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GN Power Mariveles Coal Plant, Philippines
- IHS Mccloskey Coal Group - USA
- Antam Resourcindo - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Coal Council - USA
- Kalimantan Lumbung Energi - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Bulk Trading Sa - Switzerland
- Sindya Power Generating Company Private Ltd
- Meralco Power Generation, Philippines
- Mercator Lines Limited - India
- Iligan Light & Power Inc, Philippines
- Karaikal Port Pvt Ltd - India
- Salva Resources Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Rashtriya Ispat Nigam Limited - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Global Green Power PLC Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Deloitte Consulting - India
- Maharashtra Electricity Regulatory Commission - India
- Star Paper Mills Limited - India
- TeaM Sual Corporation - Philippines
- Madhucon Powers Ltd - India
- Riau Bara Harum - Indonesia
- The University of Queensland
- Vizag Seaport Private Limited - India
- Alfred C Toepfer International GmbH - Germany
- Marubeni Corporation - India
- Videocon Industries ltd - India
- Agrawal Coal Company - India
- Coalindo Energy - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kumho Petrochemical, South Korea
- Semirara Mining and Power Corporation, Philippines
- Power Finance Corporation Ltd., India
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Merrill Lynch Commodities Europe
- Central Electricity Authority - India
- Independent Power Producers Association of India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- VISA Power Limited - India
- ICICI Bank Limited - India
- The Treasury - Australian Government
- Cement Manufacturers Association - India
- London Commodity Brokers - England
- Therma Luzon, Inc, Philippines
- Altura Mining Limited, Indonesia
- Makarim & Taira - Indonesia
- Goldman Sachs - Singapore
- Tamil Nadu electricity Board
- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- San Jose City I Power Corp, Philippines
- Binh Thuan Hamico - Vietnam
- Maheswari Brothers Coal Limited - India
- Trasteel International SA, Italy
- Carbofer General Trading SA - India
- Indian Oil Corporation Limited
- TNB Fuel Sdn Bhd - Malaysia
- Wood Mackenzie - Singapore
- Bharathi Cement Corporation - India
- Formosa Plastics Group - Taiwan
- Wilmar Investment Holdings
- Sree Jayajothi Cements Limited - India
- Petron Corporation, Philippines
- European Bulk Services B.V. - Netherlands
- Semirara Mining Corp, Philippines
- Romanian Commodities Exchange
- Barasentosa Lestari - Indonesia
- The State Trading Corporation of India Ltd
- Xindia Steels Limited - India
- Attock Cement Pakistan Limited
- MS Steel International - UAE
- Energy Link Ltd, New Zealand
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Singapore Mercantile Exchange
- Parry Sugars Refinery, India
- Uttam Galva Steels Limited - India
- Kapuas Tunggal Persada - Indonesia
- New Zealand Coal & Carbon
- Chettinad Cement Corporation Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- AsiaOL BioFuels Corp., Philippines
- Asmin Koalindo Tuhup - Indonesia
- SN Aboitiz Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- Directorate Of Revenue Intelligence - India
- Indika Energy - Indonesia
- Borneo Indobara - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Lanco Infratech Ltd - India
- Globalindo Alam Lestari - Indonesia
- Timah Investasi Mineral - Indoneisa
- Mintek Dendrill Indonesia
- White Energy Company Limited
- Ministry of Transport, Egypt
- Thai Mozambique Logistica
- Kartika Selabumi Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Commonwealth Bank - Australia
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- SMG Consultants - Indonesia
- Electricity Authority, New Zealand
- Parliament of New Zealand
- Global Business Power Corporation, Philippines
- Sarangani Energy Corporation, Philippines
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
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