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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, 23 February 24
STRONG OUTLOOK FOR THE TANKER MARKET IN 2024 AND BEYOND - DNV
Several factors have aligned over the past two years to create a robust and profitable market for tanker owners, which is expected to drive newbuil ...
Friday, 23 February 24
AUSTRALIAN COAL FLOWS TO ASIA HOVER ABOVE LAST YEAR’S VOLUME TONNES - SIGNAL GROUP
In the final days of February, the dry bulk freight market appeared to maintain a relatively stable momentum, particularly evident in the large ves ...
Friday, 23 February 24
RUSSIAN COAL SHIPMENTS FALL 14% AS SANCTIONS BITE - BIMCO
During the first seven weeks of 2024, Russian coal shipments have fallen 14% y/y. Volumes have gradually declined since October 2023 when logistica ...
Thursday, 22 February 24
BIMCO PUBLISHES SHIP FINANCING FORMS TO ENSURE UNINTERRUPTED USE OF SHIPS
BIMCO has published two standard Quiet Enjoyment Letters (QELs), the first standard form QELs available to the industry, to offer a tool that can e ...
Monday, 19 February 24
METALS INVESTMENT: THE DARKEST HOUR IS JUST BEFORE THE DAWN - WOOD MACKENZIE
Things often seem at their worst just before they get better. In terms of meeting our net zero 2050 scenario, we’ve reached a watershed momen ...
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Showing 31 to 35 news of total 6871 |
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- Oldendorff Carriers - Singapore
- Sinarmas Energy and Mining - Indonesia
- Marubeni Corporation - India
- Siam City Cement - Thailand
- IHS Mccloskey Coal Group - USA
- Baramulti Group, Indonesia
- PetroVietnam Power Coal Import and Supply Company
- SN Aboitiz Power Inc, Philippines
- Meenaskhi Energy Private Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Petron Corporation, Philippines
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
- San Jose City I Power Corp, Philippines
- Kumho Petrochemical, South Korea
- Semirara Mining Corp, Philippines
- Sakthi Sugars Limited - India
- Alfred C Toepfer International GmbH - Germany
- Kepco SPC Power Corporation, Philippines
- Globalindo Alam Lestari - Indonesia
- PNOC Exploration Corporation - Philippines
- Standard Chartered Bank - UAE
- Eastern Energy - Thailand
- Central Java Power - Indonesia
- White Energy Company Limited
- Karbindo Abesyapradhi - Indoneisa
- Jaiprakash Power Ventures ltd
- Indonesian Coal Mining Association
- Price Waterhouse Coopers - Russia
- Global Green Power PLC Corporation, Philippines
- Africa Commodities Group - South Africa
- Orica Mining Services - Indonesia
- Goldman Sachs - Singapore
- Meralco Power Generation, Philippines
- Gujarat Sidhee Cement - India
- Sarangani Energy Corporation, Philippines
- Ministry of Finance - Indonesia
- Minerals Council of Australia
- Eastern Coal Council - USA
- Bhushan Steel Limited - India
- Therma Luzon, Inc, Philippines
- Rio Tinto Coal - Australia
- Mercator Lines Limited - India
- Global Business Power Corporation, Philippines
- Tata Chemicals Ltd - India
- Banpu Public Company Limited - Thailand
- Cement Manufacturers Association - India
- Sojitz Corporation - Japan
- Asmin Koalindo Tuhup - Indonesia
- Xindia Steels Limited - India
- Maheswari Brothers Coal Limited - India
- TeaM Sual Corporation - Philippines
- Kohat Cement Company Ltd. - Pakistan
- South Luzon Thermal Energy Corporation
- Orica Australia Pty. Ltd.
- Georgia Ports Authority, United States
- Sree Jayajothi Cements Limited - India
- MS Steel International - UAE
- New Zealand Coal & Carbon
- Larsen & Toubro Limited - India
- Romanian Commodities Exchange
- IEA Clean Coal Centre - UK
- Savvy Resources Ltd - HongKong
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- GVK Power & Infra Limited - India
- Dalmia Cement Bharat India
- Parry Sugars Refinery, India
- GMR Energy Limited - India
- Miang Besar Coal Terminal - Indonesia
- Simpson Spence & Young - Indonesia
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Energy Development Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Latin American Coal - Colombia
- Thiess Contractors Indonesia
- Grasim Industreis Ltd - India
- Posco Energy - South Korea
- ASAPP Information Group - India
- Samtan Co., Ltd - South Korea
- Planning Commission, India
- Leighton Contractors Pty Ltd - Australia
- Formosa Plastics Group - Taiwan
- Timah Investasi Mineral - Indoneisa
- International Coal Ventures Pvt Ltd - India
- Videocon Industries ltd - India
- Indian Oil Corporation Limited
- Vedanta Resources Plc - India
- Australian Commodity Traders Exchange
- Iligan Light & Power Inc, Philippines
- AsiaOL BioFuels Corp., Philippines
- Altura Mining Limited, Indonesia
- McConnell Dowell - Australia
- GAC Shipping (India) Pvt Ltd
- Interocean Group of Companies - India
- Heidelberg Cement - Germany
- Kartika Selabumi Mining - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Wilmar Investment Holdings
- OPG Power Generation Pvt Ltd - India
- Jorong Barutama Greston.PT - Indonesia
- Mintek Dendrill Indonesia
- Indo Tambangraya Megah - Indonesia
- ICICI Bank Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- London Commodity Brokers - England
- Essar Steel Hazira Ltd - India
- Energy Link Ltd, New Zealand
- Holcim Trading Pte Ltd - Singapore
- The Treasury - Australian Government
- Aditya Birla Group - India
- Deloitte Consulting - India
- Thai Mozambique Logistica
- Pipit Mutiara Jaya. PT, Indonesia
- Bukit Baiduri Energy - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Bhoruka Overseas - Indonesia
- Antam Resourcindo - Indonesia
- Uttam Galva Steels Limited - India
- Maharashtra Electricity Regulatory Commission - India
- PTC India Limited - India
- Central Electricity Authority - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Jindal Steel & Power Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Economic Council, Georgia
- Straits Asia Resources Limited - Singapore
- Ind-Barath Power Infra Limited - India
- Trasteel International SA, Italy
- SMG Consultants - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ambuja Cements Ltd - India
- SMC Global Power, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Port Waratah Coal Services - Australia
- Chettinad Cement Corporation Ltd - India
- Power Finance Corporation Ltd., India
- Sical Logistics Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Bahari Cakrawala Sebuku - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Indika Energy - Indonesia
- Mjunction Services Limited - India
- Aboitiz Power Corporation - Philippines
- Makarim & Taira - Indonesia
- Riau Bara Harum - Indonesia
- Ministry of Transport, Egypt
- Toyota Tsusho Corporation, Japan
- Vizag Seaport Private Limited - India
- Madhucon Powers Ltd - India
- Kideco Jaya Agung - Indonesia
- Electricity Generating Authority of Thailand
- Kalimantan Lumbung Energi - Indonesia
- Star Paper Mills Limited - India
- Ministry of Mines - Canada
- Bayan Resources Tbk. - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Semirara Mining and Power Corporation, Philippines
- The University of Queensland
- Merrill Lynch Commodities Europe
- Carbofer General Trading SA - India
- Sindya Power Generating Company Private Ltd
- Coalindo Energy - Indonesia
- VISA Power Limited - India
- The State Trading Corporation of India Ltd
- Attock Cement Pakistan Limited
- Coal and Oil Company - UAE
- Australian Coal Association
- Binh Thuan Hamico - Vietnam
- Chamber of Mines of South Africa
- Gujarat Electricity Regulatory Commission - India
- Pendopo Energi Batubara - Indonesia
- Anglo American - United Kingdom
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Tamil Nadu electricity Board
- Lanco Infratech Ltd - India
- Mercuria Energy - Indonesia
- Indogreen Group - Indonesia
- Renaissance Capital - South Africa
- GN Power Mariveles Coal Plant, Philippines
- Bhatia International Limited - India
- Barasentosa Lestari - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Independent Power Producers Association of India
- Bulk Trading Sa - Switzerland
- Malabar Cements Ltd - India
- Kapuas Tunggal Persada - Indonesia
- Siam City Cement PLC, Thailand
- Directorate Of Revenue Intelligence - India
- Kobexindo Tractors - Indoneisa
- CIMB Investment Bank - Malaysia
- PowerSource Philippines DevCo
- Bangladesh Power Developement Board
- Manunggal Multi Energi - Indonesia
- Salva Resources Pvt Ltd - India
- Bharathi Cement Corporation - India
- Parliament of New Zealand
- Edison Trading Spa - Italy
- TNB Fuel Sdn Bhd - Malaysia
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Cigading International Bulk Terminal - Indonesia
- Medco Energi Mining Internasional
- Agrawal Coal Company - India
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