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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, 07 August 12
2ND ANNUAL FLOATING TERMINALS
Press Release - After a ground breaking and successful launch in 2011, the 2nd Annual Floating Terminals conferenceis back to address innovation, co ...
Tuesday, 07 August 12
KRISHNAPATNAM PORT HAS DISCHARGED 122,247 MTS OF COAL IN JUST 24 HRS
COALspot.com - Keeping with the tradition of the new records that are set at the Olympic Games 2012, Krishnapatnam Port has also achieved in setting ...
Tuesday, 07 August 12
THE JAKARTA POST EDITORIAL: REVISITING THE MINING LAW
The Jakarta post, one of the leading English news paper in Indonesia writes in its editorial today, what the domestic and foreign investors had drea ...
Tuesday, 07 August 12
BARAMULTI SET TO LIST ON BOURSE IN Q4 - JP
The Jakarta Post reported that, coal miner PT Baramulti Sukses Sarana is preparing to make its shares available to the public in the fourth quarter ...
Tuesday, 07 August 12
REALM RESOURCES COMPLETES STUDY ON ITS KATINGAN RIA COAL PROJECT
COALspot.com - Realm Resources Ltd. has announced that it has completed the Project Study for the Katingan Ria Project in Central Kalimantan, Indone ...
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- Indian Energy Exchange, India
- Maharashtra Electricity Regulatory Commission - India
- Orica Mining Services - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Borneo Indobara - Indonesia
- Chamber of Mines of South Africa
- Chettinad Cement Corporation Ltd - India
- Timah Investasi Mineral - Indoneisa
- Karaikal Port Pvt Ltd - India
- Romanian Commodities Exchange
- Interocean Group of Companies - India
- India Bulls Power Limited - India
- Therma Luzon, Inc, Philippines
- Iligan Light & Power Inc, Philippines
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Parry Sugars Refinery, India
- Central Java Power - Indonesia
- Ministry of Transport, Egypt
- PetroVietnam Power Coal Import and Supply Company
- Global Business Power Corporation, Philippines
- Meenaskhi Energy Private Limited - India
- Eastern Coal Council - USA
- Holcim Trading Pte Ltd - Singapore
- New Zealand Coal & Carbon
- Neyveli Lignite Corporation Ltd, - India
- Videocon Industries ltd - India
- Madhucon Powers Ltd - India
- Vijayanagar Sugar Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- Attock Cement Pakistan Limited
- Riau Bara Harum - Indonesia
- Latin American Coal - Colombia
- Dalmia Cement Bharat India
- Makarim & Taira - Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Sarangani Energy Corporation, Philippines
- Kapuas Tunggal Persada - Indonesia
- Banpu Public Company Limited - Thailand
- Mercuria Energy - Indonesia
- Bharathi Cement Corporation - India
- Sree Jayajothi Cements Limited - India
- AsiaOL BioFuels Corp., Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- The University of Queensland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- McConnell Dowell - Australia
- Miang Besar Coal Terminal - Indonesia
- Bhushan Steel Limited - India
- Savvy Resources Ltd - HongKong
- Kohat Cement Company Ltd. - Pakistan
- LBH Netherlands Bv - Netherlands
- Bayan Resources Tbk. - Indonesia
- The State Trading Corporation of India Ltd
- Directorate Of Revenue Intelligence - India
- Ambuja Cements Ltd - India
- Coal and Oil Company - UAE
- Binh Thuan Hamico - Vietnam
- Carbofer General Trading SA - India
- Bulk Trading Sa - Switzerland
- Aboitiz Power Corporation - Philippines
- IEA Clean Coal Centre - UK
- Petron Corporation, Philippines
- Semirara Mining Corp, Philippines
- Renaissance Capital - South Africa
- Trasteel International SA, Italy
- Baramulti Group, Indonesia
- Vizag Seaport Private Limited - India
- Maheswari Brothers Coal Limited - India
- Metalloyd Limited - United Kingdom
- CNBM International Corporation - China
- Offshore Bulk Terminal Pte Ltd, Singapore
- Altura Mining Limited, Indonesia
- Siam City Cement - Thailand
- Port Waratah Coal Services - Australia
- Medco Energi Mining Internasional
- Sindya Power Generating Company Private Ltd
- VISA Power Limited - India
- Merrill Lynch Commodities Europe
- Bukit Baiduri Energy - Indonesia
- Thiess Contractors Indonesia
- Coastal Gujarat Power Limited - India
- Sojitz Corporation - Japan
- Globalindo Alam Lestari - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Australian Commodity Traders Exchange
- Wood Mackenzie - Singapore
- Singapore Mercantile Exchange
- Heidelberg Cement - Germany
- Agrawal Coal Company - India
- SMG Consultants - Indonesia
- Marubeni Corporation - India
- Kumho Petrochemical, South Korea
- Tata Chemicals Ltd - India
- Xindia Steels Limited - India
- Gujarat Mineral Development Corp Ltd - India
- OPG Power Generation Pvt Ltd - India
- Electricity Generating Authority of Thailand
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Lanco Infratech Ltd - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Standard Chartered Bank - UAE
- Sinarmas Energy and Mining - Indonesia
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- San Jose City I Power Corp, Philippines
- Bangladesh Power Developement Board
- Samtan Co., Ltd - South Korea
- Thai Mozambique Logistica
- Indo Tambangraya Megah - Indonesia
- Siam City Cement PLC, Thailand
- Bukit Makmur.PT - Indonesia
- Edison Trading Spa - Italy
- Kaltim Prima Coal - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Independent Power Producers Association of India
- Gujarat Electricity Regulatory Commission - India
- Indika Energy - Indonesia
- Mintek Dendrill Indonesia
- Australian Coal Association
- IHS Mccloskey Coal Group - USA
- PNOC Exploration Corporation - Philippines
- Semirara Mining and Power Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- TeaM Sual Corporation - Philippines
- South Luzon Thermal Energy Corporation
- Anglo American - United Kingdom
- Salva Resources Pvt Ltd - India
- Goldman Sachs - Singapore
- Intertek Mineral Services - Indonesia
- Global Coal Blending Company Limited - Australia
- Pendopo Energi Batubara - Indonesia
- White Energy Company Limited
- Georgia Ports Authority, United States
- Ceylon Electricity Board - Sri Lanka
- Bahari Cakrawala Sebuku - Indonesia
- Cement Manufacturers Association - India
- Global Green Power PLC Corporation, Philippines
- Billiton Holdings Pty Ltd - Australia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- PowerSource Philippines DevCo
- Commonwealth Bank - Australia
- Indian Oil Corporation Limited
- Electricity Authority, New Zealand
- Energy Link Ltd, New Zealand
- Formosa Plastics Group - Taiwan
- Parliament of New Zealand
- Manunggal Multi Energi - Indonesia
- Barasentosa Lestari - Indonesia
- Vedanta Resources Plc - India
- Karbindo Abesyapradhi - Indoneisa
- ASAPP Information Group - India
- Rio Tinto Coal - Australia
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Toyota Tsusho Corporation, Japan
- Sakthi Sugars Limited - India
- GAC Shipping (India) Pvt Ltd
- SMC Global Power, Philippines
- Eastern Energy - Thailand
- Sical Logistics Limited - India
- Energy Development Corp, Philippines
- Price Waterhouse Coopers - Russia
- Ministry of Mines - Canada
- ICICI Bank Limited - India
- Meralco Power Generation, Philippines
- Oldendorff Carriers - Singapore
- Kobexindo Tractors - Indoneisa
- Jaiprakash Power Ventures ltd
- Mercator Lines Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Gujarat Sidhee Cement - India
- Posco Energy - South Korea
- Aditya Birla Group - India
- Economic Council, Georgia
- Minerals Council of Australia
- London Commodity Brokers - England
- Uttam Galva Steels Limited - India
- Planning Commission, India
- SN Aboitiz Power Inc, Philippines
- GMR Energy Limited - India
- Straits Asia Resources Limited - Singapore
- Wilmar Investment Holdings
- Bhatia International Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Jorong Barutama Greston.PT - Indonesia
- Antam Resourcindo - Indonesia
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Indogreen Group - Indonesia
- Coalindo Energy - Indonesia
- CIMB Investment Bank - Malaysia
- Orica Australia Pty. Ltd.
- Kepco SPC Power Corporation, Philippines
- Essar Steel Hazira Ltd - India
- Ministry of Finance - Indonesia
- PTC India Limited - India
- Simpson Spence & Young - Indonesia
- Kideco Jaya Agung - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indonesian Coal Mining Association
- Ind-Barath Power Infra Limited - India
- Jindal Steel & Power Ltd - India
- Bhoruka Overseas - Indonesia
- The Treasury - Australian Government
- Bank of Tokyo Mitsubishi UFJ Ltd
- Africa Commodities Group - South Africa
- GN Power Mariveles Coal Plant, Philippines
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