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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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Tuesday, 15 January 13
GRANT SMITH APPOINTED GROUP MANAGING DIRECTOR OF BRAEMAR ADJUSTING
The Board of Braemar Adjusting is delighted to announce the appointment of Grant Smith as Group Managing Director of the company with immediate effe ...
Tuesday, 15 January 13
2ND MYANMAR MINING SUMMIT & OFFICIAL HOST MINISTRY OF MINES TO WELCOME OVER 200 DELEGATES NEXT WEEK
Press Release: The Ministry of Mines is hosting the 2nd Myanmar Mining Summit in Yangon on 21-24 January to unravel the local mining climate, prospe ...
Monday, 14 January 13
NEWCASTLE PORT SHIPPED 2.32 PERCENT LESS COAL W/E 14 JANUARY 2013
COALspot.com - Newcastle port in Australia has loaded 3,123,312 MT of thermal and coking coal for week ended 0700 hours 14 January 2013, Newca ...
Monday, 14 January 13
THE COAL MONGOLIA - 2013 OFFICIALLY IN COOPERATION WITH TOP MINING COMPANIES
Press Release: Mongolian first mining portal site Mining.mn has already started its preparation of the International Conference “COAL MONGOLIA ...
Monday, 14 January 13
NTPC INVITES BIDS FOR 500K MT OF IMPORTED COAL
COALspot.com - NTPC Limited (formerly National Thermal Power Corporation) is the largest Indian state-owned electric utilities company called for a ...
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- Attock Cement Pakistan Limited
- SN Aboitiz Power Inc, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Trasteel International SA, Italy
- Kumho Petrochemical, South Korea
- ICICI Bank Limited - India
- Kideco Jaya Agung - Indonesia
- Indo Tambangraya Megah - Indonesia
- Indonesian Coal Mining Association
- Bharathi Cement Corporation - India
- Commonwealth Bank - Australia
- Vizag Seaport Private Limited - India
- Miang Besar Coal Terminal - Indonesia
- Lanco Infratech Ltd - India
- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Ceylon Electricity Board - Sri Lanka
- Energy Development Corp, Philippines
- Economic Council, Georgia
- Electricity Authority, New Zealand
- Oldendorff Carriers - Singapore
- Toyota Tsusho Corporation, Japan
- Mjunction Services Limited - India
- VISA Power Limited - India
- Cigading International Bulk Terminal - Indonesia
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Altura Mining Limited, Indonesia
- Krishnapatnam Port Company Ltd. - India
- IHS Mccloskey Coal Group - USA
- Kohat Cement Company Ltd. - Pakistan
- Central Electricity Authority - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- GVK Power & Infra Limited - India
- Sindya Power Generating Company Private Ltd
- Australian Coal Association
- Independent Power Producers Association of India
- Bangladesh Power Developement Board
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- The State Trading Corporation of India Ltd
- Asmin Koalindo Tuhup - Indonesia
- Cement Manufacturers Association - India
- Ambuja Cements Ltd - India
- Binh Thuan Hamico - Vietnam
- Wood Mackenzie - Singapore
- Maheswari Brothers Coal Limited - India
- White Energy Company Limited
- Orica Mining Services - Indonesia
- Rashtriya Ispat Nigam Limited - India
- TeaM Sual Corporation - Philippines
- Samtan Co., Ltd - South Korea
- Pendopo Energi Batubara - Indonesia
- South Luzon Thermal Energy Corporation
- Mercuria Energy - Indonesia
- Semirara Mining Corp, Philippines
- Marubeni Corporation - India
- Bukit Makmur.PT - Indonesia
- Thiess Contractors Indonesia
- Borneo Indobara - Indonesia
- Uttam Galva Steels Limited - India
- Mintek Dendrill Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Agrawal Coal Company - India
- Romanian Commodities Exchange
- Indogreen Group - Indonesia
- LBH Netherlands Bv - Netherlands
- ASAPP Information Group - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Eastern Energy - Thailand
- Manunggal Multi Energi - Indonesia
- Australian Commodity Traders Exchange
- Bayan Resources Tbk. - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Planning Commission, India
- Barasentosa Lestari - Indonesia
- GMR Energy Limited - India
- Eastern Coal Council - USA
- Merrill Lynch Commodities Europe
- CIMB Investment Bank - Malaysia
- Gujarat Sidhee Cement - India
- Xindia Steels Limited - India
- Therma Luzon, Inc, Philippines
- Sree Jayajothi Cements Limited - India
- Energy Link Ltd, New Zealand
- Siam City Cement PLC, Thailand
- Gujarat Electricity Regulatory Commission - India
- Global Green Power PLC Corporation, Philippines
- London Commodity Brokers - England
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Straits Asia Resources Limited - Singapore
- Parliament of New Zealand
- Kartika Selabumi Mining - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- McConnell Dowell - Australia
- CNBM International Corporation - China
- Sojitz Corporation - Japan
- Simpson Spence & Young - Indonesia
- Dalmia Cement Bharat India
- Kepco SPC Power Corporation, Philippines
- Coastal Gujarat Power Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Banpu Public Company Limited - Thailand
- Intertek Mineral Services - Indonesia
- Antam Resourcindo - Indonesia
- Bhoruka Overseas - Indonesia
- Sinarmas Energy and Mining - Indonesia
- Wilmar Investment Holdings
- Billiton Holdings Pty Ltd - Australia
- Edison Trading Spa - Italy
- PNOC Exploration Corporation - Philippines
- Bukit Baiduri Energy - Indonesia
- Power Finance Corporation Ltd., India
- Aditya Birla Group - India
- Maharashtra Electricity Regulatory Commission - India
- Bhatia International Limited - India
- Jaiprakash Power Ventures ltd
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- GAC Shipping (India) Pvt Ltd
- Essar Steel Hazira Ltd - India
- Ministry of Mines - Canada
- PTC India Limited - India
- Iligan Light & Power Inc, Philippines
- Coalindo Energy - Indonesia
- Videocon Industries ltd - India
- SMG Consultants - Indonesia
- Latin American Coal - Colombia
- Indian Energy Exchange, India
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- Neyveli Lignite Corporation Ltd, - India
- Karaikal Port Pvt Ltd - India
- Baramulti Group, Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Standard Chartered Bank - UAE
- Tamil Nadu electricity Board
- Chamber of Mines of South Africa
- Singapore Mercantile Exchange
- IEA Clean Coal Centre - UK
- Rio Tinto Coal - Australia
- Jorong Barutama Greston.PT - Indonesia
- PetroVietnam Power Coal Import and Supply Company
- Posco Energy - South Korea
- Star Paper Mills Limited - India
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- The University of Queensland
- Sakthi Sugars Limited - India
- Petron Corporation, Philippines
- Makarim & Taira - Indonesia
- Mercator Lines Limited - India
- OPG Power Generation Pvt Ltd - India
- San Jose City I Power Corp, Philippines
- Ind-Barath Power Infra Limited - India
- Meenaskhi Energy Private Limited - India
- Coal and Oil Company - UAE
- The Treasury - Australian Government
- Medco Energi Mining Internasional
- Bahari Cakrawala Sebuku - Indonesia
- Kobexindo Tractors - Indoneisa
- Kapuas Tunggal Persada - Indonesia
- Carbofer General Trading SA - India
- Siam City Cement - Thailand
- Grasim Industreis Ltd - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Georgia Ports Authority, United States
- Port Waratah Coal Services - Australia
- Directorate General of MIneral and Coal - Indonesia
- Central Java Power - Indonesia
- Interocean Group of Companies - India
- Goldman Sachs - Singapore
- Bank of Tokyo Mitsubishi UFJ Ltd
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Chettinad Cement Corporation Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Timah Investasi Mineral - Indoneisa
- Indika Energy - Indonesia
- Salva Resources Pvt Ltd - India
- SMC Global Power, Philippines
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Global Coal Blending Company Limited - Australia
- Metalloyd Limited - United Kingdom
- Karbindo Abesyapradhi - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Bulk Trading Sa - Switzerland
- International Coal Ventures Pvt Ltd - India
- Global Business Power Corporation, Philippines
- Heidelberg Cement - Germany
- Pipit Mutiara Jaya. PT, Indonesia
- Ministry of Finance - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Vedanta Resources Plc - India
- Bhushan Steel Limited - India
- MS Steel International - UAE
- Riau Bara Harum - Indonesia
- Sical Logistics Limited - India
- Larsen & Toubro Limited - India
- European Bulk Services B.V. - Netherlands
- India Bulls Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- Petrochimia International Co. Ltd.- Taiwan
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Aboitiz Power Corporation - Philippines
- Meralco Power Generation, Philippines
- Renaissance Capital - South Africa
- Orica Australia Pty. Ltd.
- Directorate Of Revenue Intelligence - India
- Formosa Plastics Group - Taiwan
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