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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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Thursday, 20 September 12
DRY BULK INCHES FORWARD AFTER WEEKS OF BELOW PAR PERFORMANCE - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has started to revive from its ashed, as the past couple of days, traders have reported an increased activity from China, result ...
Wednesday, 19 September 12
CHURCHILL STRENGTHENS LITIGATION TEAM WITH APPOINTMENT OF NICHOLAS SMITH AS MANAGING DIRECTOR
COALspot.com - Churchill Mining PLC (AIM: CHL) has announced that, Mr Nicholas Smith has joined the board of the Company and has been appointed as t ...
Wednesday, 19 September 12
DRY BULK TERMINALS SINGAPORE
Press Release - Dry bulk terminals are used all around the world to handle large quantities of bulk materials, like minerals, grains, etc. In today& ...
Tuesday, 18 September 12
JORC CODE REVISION - EXPOSURE DRAFT RELEASED FOR COMMENT
COALspot.com - The Australasian Joint Ore Reserves Committee (JORC) has today released for public comment the exposure draft of the JORC Code (2012) ...
Monday, 17 September 12
YEAR TO DATE, BUMA PRODUCED 231.1 MILLION BCM OF OVERBURDEN
COALspot.com - PT. Delta Dunia Makmur Tbk has removed 31.5 million bcm (+6.0 percent YoY) overburden in August 2012 totaled 31.5 million bcm ( ...
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- Mercator Lines Limited - India
- Mintek Dendrill Indonesia
- Kideco Jaya Agung - Indonesia
- PNOC Exploration Corporation - Philippines
- Videocon Industries ltd - India
- New Zealand Coal & Carbon
- Kumho Petrochemical, South Korea
- Star Paper Mills Limited - India
- Carbofer General Trading SA - India
- Eastern Energy - Thailand
- Anglo American - United Kingdom
- Savvy Resources Ltd - HongKong
- Miang Besar Coal Terminal - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Agrawal Coal Company - India
- Vijayanagar Sugar Pvt Ltd - India
- Ceylon Electricity Board - Sri Lanka
- Orica Australia Pty. Ltd.
- Rashtriya Ispat Nigam Limited - India
- Essar Steel Hazira Ltd - India
- Trasteel International SA, Italy
- Electricity Authority, New Zealand
- Leighton Contractors Pty Ltd - Australia
- Bahari Cakrawala Sebuku - Indonesia
- Siam City Cement PLC, Thailand
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Global Business Power Corporation, Philippines
- Bukit Makmur.PT - Indonesia
- OPG Power Generation Pvt Ltd - India
- Siam City Cement - Thailand
- Economic Council, Georgia
- Chettinad Cement Corporation Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Eastern Coal Council - USA
- Medco Energi Mining Internasional
- Kepco SPC Power Corporation, Philippines
- Gujarat Sidhee Cement - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Singapore Mercantile Exchange
- Offshore Bulk Terminal Pte Ltd, Singapore
- South Luzon Thermal Energy Corporation
- ASAPP Information Group - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Madhucon Powers Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Malabar Cements Ltd - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Bhoruka Overseas - Indonesia
- The University of Queensland
- Sree Jayajothi Cements Limited - India
- White Energy Company Limited
- Thiess Contractors Indonesia
- Cement Manufacturers Association - India
- GN Power Mariveles Coal Plant, Philippines
- Merrill Lynch Commodities Europe
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- Indika Energy - Indonesia
- San Jose City I Power Corp, Philippines
- PetroVietnam Power Coal Import and Supply Company
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Rio Tinto Coal - Australia
- Marubeni Corporation - India
- GVK Power & Infra Limited - India
- Grasim Industreis Ltd - India
- Georgia Ports Authority, United States
- Vedanta Resources Plc - India
- Baramulti Group, Indonesia
- Semirara Mining and Power Corporation, Philippines
- Electricity Generating Authority of Thailand
- IHS Mccloskey Coal Group - USA
- Parry Sugars Refinery, India
- Ministry of Transport, Egypt
- Kohat Cement Company Ltd. - Pakistan
- SMC Global Power, Philippines
- Energy Development Corp, Philippines
- Samtan Co., Ltd - South Korea
- Manunggal Multi Energi - Indonesia
- Indogreen Group - Indonesia
- Binh Thuan Hamico - Vietnam
- Jindal Steel & Power Ltd - India
- Global Coal Blending Company Limited - Australia
- CIMB Investment Bank - Malaysia
- Romanian Commodities Exchange
- Ministry of Finance - Indonesia
- Goldman Sachs - Singapore
- Gujarat Mineral Development Corp Ltd - India
- Mercuria Energy - Indonesia
- Bayan Resources Tbk. - Indonesia
- Standard Chartered Bank - UAE
- CNBM International Corporation - China
- Petron Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Salva Resources Pvt Ltd - India
- IEA Clean Coal Centre - UK
- Kartika Selabumi Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- Tata Chemicals Ltd - India
- Ministry of Mines - Canada
- Indo Tambangraya Megah - Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- AsiaOL BioFuels Corp., Philippines
- Thai Mozambique Logistica
- Bulk Trading Sa - Switzerland
- MS Steel International - UAE
- Mjunction Services Limited - India
- Central Electricity Authority - India
- Tamil Nadu electricity Board
- Xindia Steels Limited - India
- Minerals Council of Australia
- Price Waterhouse Coopers - Russia
- Formosa Plastics Group - Taiwan
- Riau Bara Harum - Indonesia
- Coastal Gujarat Power Limited - India
- Indian Oil Corporation Limited
- Energy Link Ltd, New Zealand
- Bukit Asam (Persero) Tbk - Indonesia
- Oldendorff Carriers - Singapore
- Interocean Group of Companies - India
- LBH Netherlands Bv - Netherlands
- Wood Mackenzie - Singapore
- Indian Energy Exchange, India
- Uttam Galva Steels Limited - India
- PTC India Limited - India
- Bangladesh Power Developement Board
- Edison Trading Spa - Italy
- TeaM Sual Corporation - Philippines
- India Bulls Power Limited - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Posco Energy - South Korea
- Maharashtra Electricity Regulatory Commission - India
- Banpu Public Company Limited - Thailand
- Asmin Koalindo Tuhup - Indonesia
- Central Java Power - Indonesia
- Australian Commodity Traders Exchange
- Timah Investasi Mineral - Indoneisa
- Meenaskhi Energy Private Limited - India
- Jaiprakash Power Ventures ltd
- Global Green Power PLC Corporation, Philippines
- Bhushan Steel Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dalmia Cement Bharat India
- Straits Asia Resources Limited - Singapore
- Therma Luzon, Inc, Philippines
- Port Waratah Coal Services - Australia
- Neyveli Lignite Corporation Ltd, - India
- Pendopo Energi Batubara - Indonesia
- Commonwealth Bank - Australia
- Attock Cement Pakistan Limited
- Borneo Indobara - Indonesia
- Altura Mining Limited, Indonesia
- Sindya Power Generating Company Private Ltd
- Ind-Barath Power Infra Limited - India
- Metalloyd Limited - United Kingdom
- Parliament of New Zealand
- Sojitz Corporation - Japan
- Kobexindo Tractors - Indoneisa
- McConnell Dowell - Australia
- Directorate Of Revenue Intelligence - India
- Africa Commodities Group - South Africa
- The Treasury - Australian Government
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Wilmar Investment Holdings
- Sakthi Sugars Limited - India
- Makarim & Taira - Indonesia
- Kaltim Prima Coal - Indonesia
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Semirara Mining Corp, Philippines
- Billiton Holdings Pty Ltd - Australia
- Vizag Seaport Private Limited - India
- Heidelberg Cement - Germany
- Bukit Baiduri Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Antam Resourcindo - Indonesia
- Deloitte Consulting - India
- Iligan Light & Power Inc, Philippines
- Chamber of Mines of South Africa
- Coalindo Energy - Indonesia
- Latin American Coal - Colombia
- Barasentosa Lestari - Indonesia
- Indonesian Coal Mining Association
- Sical Logistics Limited - India
- Karbindo Abesyapradhi - Indoneisa
- Coal and Oil Company - UAE
- Sarangani Energy Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- GMR Energy Limited - India
- Holcim Trading Pte Ltd - Singapore
- Alfred C Toepfer International GmbH - Germany
- International Coal Ventures Pvt Ltd - India
- Intertek Mineral Services - Indonesia
- Ambuja Cements Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Australian Coal Association
- Independent Power Producers Association of India
- SN Aboitiz Power Inc, Philippines
- Power Finance Corporation Ltd., India
- Larsen & Toubro Limited - India
- Simpson Spence & Young - Indonesia
- Globalindo Alam Lestari - Indonesia
- Bharathi Cement Corporation - India
- Maheswari Brothers Coal Limited - India
- VISA Power Limited - India
- Aditya Birla Group - India
- GAC Shipping (India) Pvt Ltd
- Cigading International Bulk Terminal - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Karaikal Port Pvt Ltd - India
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