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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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Wednesday, 10 October 12
TAPPING OPPORTUNITIES WITHIN GLOBAL ECONOMIC PERSPECTIVE
Press Release: Mining sector will continue to play a significant role in supporting industrial and economic development in Indonesia which is curren ...
Tuesday, 09 October 12
REALM RESOURCES RECOMMENCES DRILLING AT KATINGAN RIA COAL PROJECT
COALspot.com : Realm Resources Ltd. (ASX) has announced that it has commenced work on the phase three technical programme at its Katingan Project in ...
Sunday, 07 October 12
INDONESIAN GOVERNMENT DECLARED HBA FELL AGAIN IN OCTOBER
COALspot.com - The Indonesian government’s declared coal reference price has lost US$ 0.17 per MT M-M.
The monthly coal referen ...
Saturday, 06 October 12
CFR SOUTH CHINA COAL SWAPS FOR DECEMBER'13 DELIVERY GAINED 1.3 PERCENT W-W
COALspot.com - Sub-Bit Indonesia coal swaps (FOB ) for December 2012 delivery gained 0.098 percent and 0.164 percent W-W and D-D respectively o ...
Saturday, 06 October 12
FREIGHT MARKET IS LIKELY TO PICK AFTER THE HOLIDAYS IN CHINA - VISTAAR
COALspot.com - The freight market appeared to be seeing some increase BDI up by 14.23 pct closing at 875 points. The Cape and Panamax index also saw ...
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- McConnell Dowell - Australia
- Kideco Jaya Agung - Indonesia
- Ambuja Cements Ltd - India
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kumho Petrochemical, South Korea
- Sree Jayajothi Cements Limited - India
- Bhushan Steel Limited - India
- Thiess Contractors Indonesia
- Indian Energy Exchange, India
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Binh Thuan Hamico - Vietnam
- PetroVietnam Power Coal Import and Supply Company
- Indian Oil Corporation Limited
- Cement Manufacturers Association - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- LBH Netherlands Bv - Netherlands
- Pipit Mutiara Jaya. PT, Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Toyota Tsusho Corporation, Japan
- Salva Resources Pvt Ltd - India
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Orica Australia Pty. Ltd.
- Sical Logistics Limited - India
- Latin American Coal - Colombia
- Parliament of New Zealand
- Energy Development Corp, Philippines
- Barasentosa Lestari - Indonesia
- Siam City Cement PLC, Thailand
- TeaM Sual Corporation - Philippines
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- VISA Power Limited - India
- India Bulls Power Limited - India
- AsiaOL BioFuels Corp., Philippines
- GN Power Mariveles Coal Plant, Philippines
- Simpson Spence & Young - Indonesia
- Bhoruka Overseas - Indonesia
- Trasteel International SA, Italy
- Uttam Galva Steels Limited - India
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Cigading International Bulk Terminal - Indonesia
- Coalindo Energy - Indonesia
- ASAPP Information Group - India
- Miang Besar Coal Terminal - Indonesia
- White Energy Company Limited
- Aboitiz Power Corporation - Philippines
- Leighton Contractors Pty Ltd - Australia
- IEA Clean Coal Centre - UK
- Singapore Mercantile Exchange
- San Jose City I Power Corp, Philippines
- SN Aboitiz Power Inc, Philippines
- Manunggal Multi Energi - Indonesia
- Rashtriya Ispat Nigam Limited - India
- Africa Commodities Group - South Africa
- CNBM International Corporation - China
- Kohat Cement Company Ltd. - Pakistan
- Standard Chartered Bank - UAE
- Kepco SPC Power Corporation, Philippines
- Aditya Birla Group - India
- Eastern Energy - Thailand
- GAC Shipping (India) Pvt Ltd
- Semirara Mining and Power Corporation, Philippines
- Therma Luzon, Inc, Philippines
- Oldendorff Carriers - Singapore
- Bangladesh Power Developement Board
- Indika Energy - Indonesia
- Madhucon Powers Ltd - India
- Makarim & Taira - Indonesia
- Tata Chemicals Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Kapuas Tunggal Persada - Indonesia
- GVK Power & Infra Limited - India
- Maheswari Brothers Coal Limited - India
- Economic Council, Georgia
- Australian Commodity Traders Exchange
- Agrawal Coal Company - India
- Wood Mackenzie - Singapore
- Sinarmas Energy and Mining - Indonesia
- Mercuria Energy - Indonesia
- Tamil Nadu electricity Board
- Bank of Tokyo Mitsubishi UFJ Ltd
- Directorate Of Revenue Intelligence - India
- Interocean Group of Companies - India
- Videocon Industries ltd - India
- Commonwealth Bank - Australia
- IHS Mccloskey Coal Group - USA
- Indogreen Group - Indonesia
- Bayan Resources Tbk. - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Riau Bara Harum - Indonesia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Indonesian Coal Mining Association
- Larsen & Toubro Limited - India
- Asmin Koalindo Tuhup - Indonesia
- Jindal Steel & Power Ltd - India
- Dalmia Cement Bharat India
- Mintek Dendrill Indonesia
- PTC India Limited - India
- New Zealand Coal & Carbon
- Carbofer General Trading SA - India
- Wilmar Investment Holdings
- Ministry of Mines - Canada
- Global Green Power PLC Corporation, Philippines
- Chettinad Cement Corporation Ltd - India
- Star Paper Mills Limited - India
- International Coal Ventures Pvt Ltd - India
- SMG Consultants - Indonesia
- Mjunction Services Limited - India
- Vijayanagar Sugar Pvt Ltd - India
- Antam Resourcindo - Indonesia
- The State Trading Corporation of India Ltd
- PowerSource Philippines DevCo
- Port Waratah Coal Services - Australia
- South Luzon Thermal Energy Corporation
- Orica Mining Services - Indonesia
- Gujarat Mineral Development Corp Ltd - India
- Bharathi Cement Corporation - India
- Samtan Co., Ltd - South Korea
- Borneo Indobara - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Indo Tambangraya Megah - Indonesia
- Coastal Gujarat Power Limited - India
- Sakthi Sugars Limited - India
- Rio Tinto Coal - Australia
- CIMB Investment Bank - Malaysia
- Electricity Authority, New Zealand
- Bahari Cakrawala Sebuku - Indonesia
- Power Finance Corporation Ltd., India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- Vedanta Resources Plc - India
- MS Steel International - UAE
- Karbindo Abesyapradhi - Indoneisa
- Malabar Cements Ltd - India
- Straits Asia Resources Limited - Singapore
- Bulk Trading Sa - Switzerland
- Offshore Bulk Terminal Pte Ltd, Singapore
- OPG Power Generation Pvt Ltd - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Edison Trading Spa - Italy
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Baramulti Group, Indonesia
- Ind-Barath Power Infra Limited - India
- The Treasury - Australian Government
- Planning Commission, India
- Coal and Oil Company - UAE
- ICICI Bank Limited - India
- Lanco Infratech Ltd - India
- Goldman Sachs - Singapore
- The University of Queensland
- Jorong Barutama Greston.PT - Indonesia
- GMR Energy Limited - India
- Minerals Council of Australia
- Karaikal Port Pvt Ltd - India
- Attock Cement Pakistan Limited
- Ceylon Electricity Board - Sri Lanka
- Iligan Light & Power Inc, Philippines
- London Commodity Brokers - England
- Thai Mozambique Logistica
- Essar Steel Hazira Ltd - India
- Neyveli Lignite Corporation Ltd, - India
- Banpu Public Company Limited - Thailand
- TNB Fuel Sdn Bhd - Malaysia
- Kartika Selabumi Mining - Indonesia
- Deloitte Consulting - India
- European Bulk Services B.V. - Netherlands
- Timah Investasi Mineral - Indoneisa
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Globalindo Alam Lestari - Indonesia
- Intertek Mineral Services - Indonesia
- Marubeni Corporation - India
- Jaiprakash Power Ventures ltd
- Renaissance Capital - South Africa
- Gujarat Sidhee Cement - India
- Australian Coal Association
- Metalloyd Limited - United Kingdom
- Central Electricity Authority - India
- PNOC Exploration Corporation - Philippines
- Directorate General of MIneral and Coal - Indonesia
- Independent Power Producers Association of India
- Meralco Power Generation, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Bukit Makmur.PT - Indonesia
- Formosa Plastics Group - Taiwan
- Gujarat Electricity Regulatory Commission - India
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Ministry of Transport, Egypt
- Heidelberg Cement - Germany
- Global Coal Blending Company Limited - Australia
- Savvy Resources Ltd - HongKong
- Grasim Industreis Ltd - India
- Central Java Power - Indonesia
- Energy Link Ltd, New Zealand
- Georgia Ports Authority, United States
- Eastern Coal Council - USA
- Semirara Mining Corp, Philippines
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Krishnapatnam Port Company Ltd. - India
- Pendopo Energi Batubara - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Kaltim Prima Coal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Mercator Lines Limited - India
- Price Waterhouse Coopers - Russia
- Holcim Trading Pte Ltd - Singapore
- Sarangani Energy Corporation, Philippines
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