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Friday, 18 May 12
EXPORT TAX WILL ERODE PROFITS, INDONESIAN COAL EXEC COMPLAINS - THE JAKARTA GLOBE
The Jakarta Globe reported that, A 20 percent export duty the government has imposed on 14 mineral ore products will not only take a toll on mining companies’ profits but also cause problems in the domestic market, which won’t be able to absorb all the output, a mining executive said.
Ray Antonio Gunara, president director of Harum Energy (HRUM), a coal mining and logistics company with operations in East Kalimantan, said that his business already had to pay a 13.5 percent royalty and that the additional 20 percent would only cut deeper into its profit margin.
“If the policy is really implemented, it would mean that besides of the 13.5 percent royalty obligation, we will also have to pay another 20 percent to the government and therefore we will only get about 70 percent of sales,” Ray said.
The new rule — moved up to this year from 2014 — bans shipments of unprocessed gold, silver, platinum, copper, lead, nickel, zinc, iron ore and sand iron, manganese, chromium, molybdenum, bauxite and antimony in a bid to boost value-added products.
The government has made exceptions for miners that plan to build smelters. They will be taxed at an average of 20 percent on ore exports.
Some companies may end up holding back ore shipments if the new levy makes mining unprofitable and might focus instead on building smelters or selling domestically.
Ray said if wouldn’t be easy for sales to shift to the domestic market because its absorption rate was much smaller than the export market. Currently around 90 percent of mining products are exported.
However, Herman Afif Kusumo, head of the Indonesia Mining Community Presidium (MPI), said 20 percent was an acceptable level that local mining concerns could still afford. The new taxes were needed to prevent the rapid overexploitation of Indonesia’s natural resources, he said.
Source: The Jakarta Globe
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Friday, 15 February 13
2ND ANNUAL INDONESIA MINING 2013 CONFERENCE
Bringing Indonesia's Mining Stakeholders Together Towards Improving Mining Investment Climate & Operations
Following the success of th ...
Friday, 15 February 13
SCRAPPING TO RISE AS BULKER OWNERS SUFFER - DREWRY MARITIME RESEARCH
Drewry's latest Dry Bulk Forecaster report suggests that cash-strapped shipowners will scrap younger and younger ships this year as the dry bulk ma ...
Thursday, 14 February 13
HANDY: ATLANTIC "STABLE"; PACIFIC "QUIET" - FEARNLEYS
Handy
The Atlantic remain stable with rates for FH from USG around USD 18k. The Pacific remains quiet due to Chinese New Year holidays. Rates were ...
Thursday, 14 February 13
BIMCO FORECASTS MOSTLY HIGHER DRY BULK RATES FOR THE COMING WEEKS - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
Higher steel demand is expected to keep dry bulk rates elevated during the next six weeks, according to the latest BIMCO forecast. The Organization ...
Wednesday, 13 February 13
6TH ANNUAL CBM CONFERENCE
The 6th Annual CBM conference which will be held in Singapore on 18-21 June 201 offers comprehensive insights into leading CBM projects in the Asia- ...
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- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Mercuria Energy - Indonesia
- Ministry of Finance - Indonesia
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Intertek Mineral Services - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- PTC India Limited - India
- Gujarat Sidhee Cement - India
- Karbindo Abesyapradhi - Indoneisa
- Semirara Mining and Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Bukit Makmur.PT - Indonesia
- Grasim Industreis Ltd - India
- SMG Consultants - Indonesia
- Heidelberg Cement - Germany
- Wilmar Investment Holdings
- Bharathi Cement Corporation - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Siam City Cement - Thailand
- Singapore Mercantile Exchange
- Kohat Cement Company Ltd. - Pakistan
- Energy Development Corp, Philippines
- Semirara Mining Corp, Philippines
- Anglo American - United Kingdom
- Directorate General of MIneral and Coal - Indonesia
- Bhushan Steel Limited - India
- Ceylon Electricity Board - Sri Lanka
- Standard Chartered Bank - UAE
- India Bulls Power Limited - India
- Deloitte Consulting - India
- South Luzon Thermal Energy Corporation
- Australian Coal Association
- Ministry of Mines - Canada
- Agrawal Coal Company - India
- IHS Mccloskey Coal Group - USA
- Chamber of Mines of South Africa
- International Coal Ventures Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Therma Luzon, Inc, Philippines
- Binh Thuan Hamico - Vietnam
- Bulk Trading Sa - Switzerland
- Kartika Selabumi Mining - Indonesia
- White Energy Company Limited
- CIMB Investment Bank - Malaysia
- CNBM International Corporation - China
- Interocean Group of Companies - India
- MS Steel International - UAE
- Altura Mining Limited, Indonesia
- Coalindo Energy - Indonesia
- Jindal Steel & Power Ltd - India
- Port Waratah Coal Services - Australia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Indian Energy Exchange, India
- TNB Fuel Sdn Bhd - Malaysia
- Mjunction Services Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Miang Besar Coal Terminal - Indonesia
- PNOC Exploration Corporation - Philippines
- Borneo Indobara - Indonesia
- Salva Resources Pvt Ltd - India
- New Zealand Coal & Carbon
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Indogreen Group - Indonesia
- Kumho Petrochemical, South Korea
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Malabar Cements Ltd - India
- Planning Commission, India
- Australian Commodity Traders Exchange
- Romanian Commodities Exchange
- Banpu Public Company Limited - Thailand
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Energy Link Ltd, New Zealand
- Cement Manufacturers Association - India
- Savvy Resources Ltd - HongKong
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- The University of Queensland
- London Commodity Brokers - England
- Rashtriya Ispat Nigam Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Price Waterhouse Coopers - Russia
- Kepco SPC Power Corporation, Philippines
- Central Electricity Authority - India
- Karaikal Port Pvt Ltd - India
- Globalindo Alam Lestari - Indonesia
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Sinarmas Energy and Mining - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Global Business Power Corporation, Philippines
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Indika Energy - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Chettinad Cement Corporation Ltd - India
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Bukit Baiduri Energy - Indonesia
- Lanco Infratech Ltd - India
- Medco Energi Mining Internasional
- Xindia Steels Limited - India
- Leighton Contractors Pty Ltd - Australia
- Trasteel International SA, Italy
- Larsen & Toubro Limited - India
- Mercator Lines Limited - India
- Independent Power Producers Association of India
- Sarangani Energy Corporation, Philippines
- Pipit Mutiara Jaya. PT, Indonesia
- Makarim & Taira - Indonesia
- Attock Cement Pakistan Limited
- Straits Asia Resources Limited - Singapore
- Orica Mining Services - Indonesia
- ICICI Bank Limited - India
- VISA Power Limited - India
- Power Finance Corporation Ltd., India
- PowerSource Philippines DevCo
- Ministry of Transport, Egypt
- Rio Tinto Coal - Australia
- Sindya Power Generating Company Private Ltd
- PetroVietnam Power Coal Import and Supply Company
- Goldman Sachs - Singapore
- Simpson Spence & Young - Indonesia
- TeaM Sual Corporation - Philippines
- Minerals Council of Australia
- GN Power Mariveles Coal Plant, Philippines
- Sical Logistics Limited - India
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Economic Council, Georgia
- Alfred C Toepfer International GmbH - Germany
- Uttam Galva Steels Limited - India
- OPG Power Generation Pvt Ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Kaltim Prima Coal - Indonesia
- Bhoruka Overseas - Indonesia
- Electricity Authority, New Zealand
- Parry Sugars Refinery, India
- Africa Commodities Group - South Africa
- Directorate Of Revenue Intelligence - India
- Latin American Coal - Colombia
- IEA Clean Coal Centre - UK
- Gujarat Mineral Development Corp Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Merrill Lynch Commodities Europe
- Sojitz Corporation - Japan
- SN Aboitiz Power Inc, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Renaissance Capital - South Africa
- European Bulk Services B.V. - Netherlands
- Indian Oil Corporation Limited
- The Treasury - Australian Government
- Asmin Koalindo Tuhup - Indonesia
- Vedanta Resources Plc - India
- Maheswari Brothers Coal Limited - India
- Central Java Power - Indonesia
- Mintek Dendrill Indonesia
- Global Green Power PLC Corporation, Philippines
- Georgia Ports Authority, United States
- Kobexindo Tractors - Indoneisa
- Videocon Industries ltd - India
- Eastern Coal Council - USA
- San Jose City I Power Corp, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Thiess Contractors Indonesia
- Samtan Co., Ltd - South Korea
- Siam City Cement PLC, Thailand
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- SMC Global Power, Philippines
- Posco Energy - South Korea
- Billiton Holdings Pty Ltd - Australia
- Tamil Nadu electricity Board
- Coastal Gujarat Power Limited - India
- Electricity Generating Authority of Thailand
- Antam Resourcindo - Indonesia
- Ambuja Cements Ltd - India
- Global Coal Blending Company Limited - Australia
- Tata Chemicals Ltd - India
- GMR Energy Limited - India
- Indonesian Coal Mining Association
- Edison Trading Spa - Italy
- Parliament of New Zealand
- Cigading International Bulk Terminal - Indonesia
- Baramulti Group, Indonesia
- Bangladesh Power Developement Board
- Pendopo Energi Batubara - Indonesia
- Timah Investasi Mineral - Indoneisa
- Indo Tambangraya Megah - Indonesia
- Formosa Plastics Group - Taiwan
- Neyveli Lignite Corporation Ltd, - India
- Riau Bara Harum - Indonesia
- Coal and Oil Company - UAE
- Aboitiz Power Corporation - Philippines
- Petron Corporation, Philippines
- Wood Mackenzie - Singapore
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- Aditya Birla Group - India
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Orica Australia Pty. Ltd.
- Bayan Resources Tbk. - Indonesia
- Oldendorff Carriers - Singapore
- Marubeni Corporation - India
- Meenaskhi Energy Private Limited - India
- GAC Shipping (India) Pvt Ltd
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