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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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Sunday, 15 April 12
THE SPOT FIXTURE RATES FOR SUPRAMAX IN SE ASIA SAW SOME SOFTENING OF CHARTER RATES - VISTAAR
COALspot.com - The market seem to be holding and except for Supramax and handy size index all other index was up with BDI up by 4.74 pct closing at ...
Friday, 13 April 12
MINERS OPPOSE GOVTS EXPORT TAX PLAN - THE JAKARTA POST
The Jakarta Post reported that, Indonesian mining companies have strongly protested the government’s plan to impose a 25 percent export tax on ...
Friday, 13 April 12
S&P CAUTIONS AGAINST NEW INDONESIAN MINING REGULATIONS - THE JAKARTA GLOBE
The Jakarta Globe reported that, Investors may have expressed concerns about looming new mining regulations, but ratings agency Standard & Poor& ...
Thursday, 12 April 12
FIRST QUARTER OF 2012 SAW AN ADDITIONAL 24.2 MILLION DWT OF DRY BULK CARRIERS ENTERING THE FLEET - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The inflow of newbuilt dry bulk vessels was larger than expected in the first quarter of 2012. As much as 24.2 million DWT were added to the fleet. ...
Wednesday, 11 April 12
TWO PERCENT OF IBP CONCESSION CONTAINS 42 MMT OF COAL
COALspot.com - 42.35 million ton of coal found in just 2% of PT Insani Bara Perkasa’s total concession area of 24,477 hectare.
Accord ...
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- Global Business Power Corporation, Philippines
- Interocean Group of Companies - India
- Jindal Steel & Power Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Bahari Cakrawala Sebuku - Indonesia
- Heidelberg Cement - Germany
- Savvy Resources Ltd - HongKong
- Vedanta Resources Plc - India
- GVK Power & Infra Limited - India
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Toyota Tsusho Corporation, Japan
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Global Coal Blending Company Limited - Australia
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Orica Australia Pty. Ltd.
- Baramulti Group, Indonesia
- Alfred C Toepfer International GmbH - Germany
- Planning Commission, India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Electricity Authority, New Zealand
- Ministry of Finance - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Kartika Selabumi Mining - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Vijayanagar Sugar Pvt Ltd - India
- Videocon Industries ltd - India
- Therma Luzon, Inc, Philippines
- Sojitz Corporation - Japan
- The University of Queensland
- Altura Mining Limited, Indonesia
- Lanco Infratech Ltd - India
- Malabar Cements Ltd - India
- OPG Power Generation Pvt Ltd - India
- Bukit Makmur.PT - Indonesia
- Mercuria Energy - Indonesia
- European Bulk Services B.V. - Netherlands
- Directorate Of Revenue Intelligence - India
- Wilmar Investment Holdings
- Indonesian Coal Mining Association
- Barasentosa Lestari - Indonesia
- Edison Trading Spa - Italy
- Chamber of Mines of South Africa
- SMC Global Power, Philippines
- Straits Asia Resources Limited - Singapore
- Rio Tinto Coal - Australia
- Commonwealth Bank - Australia
- ASAPP Information Group - India
- India Bulls Power Limited - India
- PNOC Exploration Corporation - Philippines
- Makarim & Taira - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Africa Commodities Group - South Africa
- Oldendorff Carriers - Singapore
- Globalindo Alam Lestari - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- Kumho Petrochemical, South Korea
- CIMB Investment Bank - Malaysia
- Wood Mackenzie - Singapore
- Bhoruka Overseas - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Coalindo Energy - Indonesia
- Essar Steel Hazira Ltd - India
- Manunggal Multi Energi - Indonesia
- McConnell Dowell - Australia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- White Energy Company Limited
- Billiton Holdings Pty Ltd - Australia
- Maheswari Brothers Coal Limited - India
- Miang Besar Coal Terminal - Indonesia
- Chettinad Cement Corporation Ltd - India
- Sical Logistics Limited - India
- SMG Consultants - Indonesia
- Karaikal Port Pvt Ltd - India
- New Zealand Coal & Carbon
- London Commodity Brokers - England
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- Georgia Ports Authority, United States
- Posco Energy - South Korea
- Australian Coal Association
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Uttam Galva Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- The State Trading Corporation of India Ltd
- South Luzon Thermal Energy Corporation
- Kideco Jaya Agung - Indonesia
- GMR Energy Limited - India
- Bukit Baiduri Energy - Indonesia
- Larsen & Toubro Limited - India
- PowerSource Philippines DevCo
- Bhushan Steel Limited - India
- Eastern Coal Council - USA
- Simpson Spence & Young - Indonesia
- The Treasury - Australian Government
- San Jose City I Power Corp, Philippines
- Bulk Trading Sa - Switzerland
- Energy Link Ltd, New Zealand
- Price Waterhouse Coopers - Russia
- Independent Power Producers Association of India
- Trasteel International SA, Italy
- Mjunction Services Limited - India
- Agrawal Coal Company - India
- Sinarmas Energy and Mining - Indonesia
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- VISA Power Limited - India
- CNBM International Corporation - China
- Meralco Power Generation, Philippines
- Eastern Energy - Thailand
- Medco Energi Mining Internasional
- Romanian Commodities Exchange
- Star Paper Mills Limited - India
- MS Steel International - UAE
- Power Finance Corporation Ltd., India
- Ministry of Transport, Egypt
- Renaissance Capital - South Africa
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Kohat Cement Company Ltd. - Pakistan
- Dalmia Cement Bharat India
- Indogreen Group - Indonesia
- Energy Development Corp, Philippines
- Singapore Mercantile Exchange
- Sarangani Energy Corporation, Philippines
- Metalloyd Limited - United Kingdom
- Kobexindo Tractors - Indoneisa
- Holcim Trading Pte Ltd - Singapore
- Kalimantan Lumbung Energi - Indonesia
- IHS Mccloskey Coal Group - USA
- Kepco SPC Power Corporation, Philippines
- Cigading International Bulk Terminal - Indonesia
- LBH Netherlands Bv - Netherlands
- Thai Mozambique Logistica
- Semirara Mining Corp, Philippines
- Goldman Sachs - Singapore
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Bayan Resources Tbk. - Indonesia
- Gujarat Sidhee Cement - India
- Intertek Mineral Services - Indonesia
- Aboitiz Power Corporation - Philippines
- Cement Manufacturers Association - India
- Mintek Dendrill Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Sindya Power Generating Company Private Ltd
- Australian Commodity Traders Exchange
- Pendopo Energi Batubara - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Marubeni Corporation - India
- Coal and Oil Company - UAE
- Parry Sugars Refinery, India
- Jaiprakash Power Ventures ltd
- Tamil Nadu electricity Board
- Madhucon Powers Ltd - India
- Indian Oil Corporation Limited
- Jorong Barutama Greston.PT - Indonesia
- Economic Council, Georgia
- Global Green Power PLC Corporation, Philippines
- Antam Resourcindo - Indonesia
- Standard Chartered Bank - UAE
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Rashtriya Ispat Nigam Limited - India
- ICICI Bank Limited - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- Minerals Council of Australia
- Sakthi Sugars Limited - India
- IEA Clean Coal Centre - UK
- Leighton Contractors Pty Ltd - Australia
- Petrochimia International Co. Ltd.- Taiwan
- Ceylon Electricity Board - Sri Lanka
- Timah Investasi Mineral - Indoneisa
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Aditya Birla Group - India
- Orica Mining Services - Indonesia
- Meenaskhi Energy Private Limited - India
- Iligan Light & Power Inc, Philippines
- Bhatia International Limited - India
- Salva Resources Pvt Ltd - India
- Borneo Indobara - Indonesia
- Petron Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Kaltim Prima Coal - Indonesia
- Mercator Lines Limited - India
- Anglo American - United Kingdom
- Indo Tambangraya Megah - Indonesia
- Merrill Lynch Commodities Europe
- Binh Thuan Hamico - Vietnam
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Carbofer General Trading SA - India
- GAC Shipping (India) Pvt Ltd
- TeaM Sual Corporation - Philippines
- Riau Bara Harum - Indonesia
- Central Electricity Authority - India
- Coastal Gujarat Power Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Deloitte Consulting - India
- Tata Chemicals Ltd - India
- Siam City Cement - Thailand
- Indian Energy Exchange, India
- Vizag Seaport Private Limited - India
- Thiess Contractors Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Ministry of Mines - Canada
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