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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, 04 May 12
DEMOLITION KEY FOR DRY BULK MARKET RECOVERY - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The overflow of newbuilding vessels which “spilled over” into 2012 from 2011 brought the dry bulk market to a near collapse level at the ...
Thursday, 03 May 12
DRY BULK MARKET REMAINS INACTIVE, POSTING MILD DECREASE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has kept retreating this week, although at a very low pace, on the back of a lull in demand. The industry's benchmark, th ...
Thursday, 03 May 12
HANDY EAST COAST INDIA - CHINA AROUND USD 7000 - FEARNLEYS AS
Handy - Stable demand in the Atlantic offered good rates for the tonnage.
USG/Cont was worth USD 17500 and more. Baltic and Black Sea appeared to ...
Wednesday, 02 May 12
CHINA BLACKOUTS HIGHLIGHT PRICING POLICY WEAKNESS - FITCH
Fitch reported that, the likelihood of further electricity blackouts in China this summer underlines Fitch's view of the basic problem f ...
Tuesday, 01 May 12
VIETNAM FEARS IT MAY NOT SEEK COAL SUPPLIES - TBKTSG / VIETNAMNET BRIDGE
TBKTSG / VietNamNet Bridge reported that, with five coal-run thermopower plants under construction, PetroVietnam alone would need 18 million tons of ...
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- Asia Pacific Energy Resources Ventures Inc, Philippines
- Bulk Trading Sa - Switzerland
- Agrawal Coal Company - India
- Binh Thuan Hamico - Vietnam
- International Coal Ventures Pvt Ltd - India
- Interocean Group of Companies - India
- PowerSource Philippines DevCo
- SMC Global Power, Philippines
- Coastal Gujarat Power Limited - India
- Dalmia Cement Bharat India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Ambuja Cements Ltd - India
- Mercuria Energy - Indonesia
- IEA Clean Coal Centre - UK
- TeaM Sual Corporation - Philippines
- Mjunction Services Limited - India
- Kepco SPC Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Central Java Power - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- Malabar Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Riau Bara Harum - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Formosa Plastics Group - Taiwan
- Orica Mining Services - Indonesia
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Indogreen Group - Indonesia
- London Commodity Brokers - England
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GAC Shipping (India) Pvt Ltd
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Sical Logistics Limited - India
- Straits Asia Resources Limited - Singapore
- Holcim Trading Pte Ltd - Singapore
- Romanian Commodities Exchange
- Sojitz Corporation - Japan
- Kideco Jaya Agung - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Vedanta Resources Plc - India
- Samtan Co., Ltd - South Korea
- Indonesian Coal Mining Association
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Chamber of Mines of South Africa
- Aboitiz Power Corporation - Philippines
- Rio Tinto Coal - Australia
- Georgia Ports Authority, United States
- Jorong Barutama Greston.PT - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Marubeni Corporation - India
- Pendopo Energi Batubara - Indonesia
- Posco Energy - South Korea
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Star Paper Mills Limited - India
- Ministry of Transport, Egypt
- GVK Power & Infra Limited - India
- Economic Council, Georgia
- Bukit Makmur.PT - Indonesia
- MS Steel International - UAE
- Makarim & Taira - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Siam City Cement - Thailand
- India Bulls Power Limited - India
- Electricity Authority, New Zealand
- Baramulti Group, Indonesia
- Leighton Contractors Pty Ltd - Australia
- CNBM International Corporation - China
- European Bulk Services B.V. - Netherlands
- Asmin Koalindo Tuhup - Indonesia
- Global Green Power PLC Corporation, Philippines
- Orica Australia Pty. Ltd.
- GN Power Mariveles Coal Plant, Philippines
- Bayan Resources Tbk. - Indonesia
- Singapore Mercantile Exchange
- New Zealand Coal & Carbon
- San Jose City I Power Corp, Philippines
- Renaissance Capital - South Africa
- Eastern Coal Council - USA
- Jaiprakash Power Ventures ltd
- Australian Commodity Traders Exchange
- Ministry of Finance - Indonesia
- Sakthi Sugars Limited - India
- Energy Development Corp, Philippines
- Carbofer General Trading SA - India
- Neyveli Lignite Corporation Ltd, - India
- Aditya Birla Group - India
- Ind-Barath Power Infra Limited - India
- Petron Corporation, Philippines
- Bhoruka Overseas - Indonesia
- VISA Power Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Parry Sugars Refinery, India
- PetroVietnam Power Coal Import and Supply Company
- Edison Trading Spa - Italy
- Altura Mining Limited, Indonesia
- Tata Chemicals Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Vizag Seaport Private Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- Attock Cement Pakistan Limited
- PTC India Limited - India
- Bharathi Cement Corporation - India
- Bukit Baiduri Energy - Indonesia
- Coalindo Energy - Indonesia
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- LBH Netherlands Bv - Netherlands
- Kaltim Prima Coal - Indonesia
- Goldman Sachs - Singapore
- Krishnapatnam Port Company Ltd. - India
- Directorate General of MIneral and Coal - Indonesia
- Mercator Lines Limited - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Mintek Dendrill Indonesia
- Merrill Lynch Commodities Europe
- Bahari Cakrawala Sebuku - Indonesia
- Essar Steel Hazira Ltd - India
- Oldendorff Carriers - Singapore
- Electricity Generating Authority of Thailand
- Deloitte Consulting - India
- Thiess Contractors Indonesia
- Videocon Industries ltd - India
- Kartika Selabumi Mining - Indonesia
- Planning Commission, India
- Bangladesh Power Developement Board
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Maharashtra Electricity Regulatory Commission - India
- Gujarat Mineral Development Corp Ltd - India
- GMR Energy Limited - India
- Cigading International Bulk Terminal - Indonesia
- Africa Commodities Group - South Africa
- Iligan Light & Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Kalimantan Lumbung Energi - Indonesia
- Gujarat Sidhee Cement - India
- Banpu Public Company Limited - Thailand
- Barasentosa Lestari - Indonesia
- Kobexindo Tractors - Indoneisa
- Billiton Holdings Pty Ltd - Australia
- Salva Resources Pvt Ltd - India
- Wilmar Investment Holdings
- Kapuas Tunggal Persada - Indonesia
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- Anglo American - United Kingdom
- The University of Queensland
- Port Waratah Coal Services - Australia
- Trasteel International SA, Italy
- Sinarmas Energy and Mining - Indonesia
- McConnell Dowell - Australia
- CIMB Investment Bank - Malaysia
- Intertek Mineral Services - Indonesia
- Eastern Energy - Thailand
- Kumho Petrochemical, South Korea
- SMG Consultants - Indonesia
- Parliament of New Zealand
- Semirara Mining Corp, Philippines
- Sree Jayajothi Cements Limited - India
- The State Trading Corporation of India Ltd
- Standard Chartered Bank - UAE
- Indian Oil Corporation Limited
- Miang Besar Coal Terminal - Indonesia
- Timah Investasi Mineral - Indoneisa
- Larsen & Toubro Limited - India
- White Energy Company Limited
- Antam Resourcindo - Indonesia
- Bhatia International Limited - India
- Meralco Power Generation, Philippines
- Therma Luzon, Inc, Philippines
- Minerals Council of Australia
- Lanco Infratech Ltd - India
- Uttam Galva Steels Limited - India
- SN Aboitiz Power Inc, Philippines
- Semirara Mining and Power Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
- Global Coal Blending Company Limited - Australia
- Indo Tambangraya Megah - Indonesia
- Cement Manufacturers Association - India
- Tamil Nadu electricity Board
- Simpson Spence & Young - Indonesia
- Grasim Industreis Ltd - India
- Maheswari Brothers Coal Limited - India
- Wood Mackenzie - Singapore
- Offshore Bulk Terminal Pte Ltd, Singapore
- Ceylon Electricity Board - Sri Lanka
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Latin American Coal - Colombia
- AsiaOL BioFuels Corp., Philippines
- Madhucon Powers Ltd - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Commonwealth Bank - Australia
- Karaikal Port Pvt Ltd - India
- Toyota Tsusho Corporation, Japan
- Medco Energi Mining Internasional
- Thai Mozambique Logistica
- The Treasury - Australian Government
- Vijayanagar Sugar Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Indika Energy - Indonesia
- Metalloyd Limited - United Kingdom
- ICICI Bank Limited - India
- Globalindo Alam Lestari - Indonesia
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