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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, 05 July 12
BUMI ACHIEVES HIGHER SELLING PRICE IN FIRST QUARTER
COALspot.com - PT Bumi Resources Tbk (BUMI), Indonesia's largest coal producer and exporter, has successfully maintained a higher sales margin, des ...
Tuesday, 03 July 12
DRY BULK MARKET INCHED FORWARD AT THE START OF THE WEEK - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market inched forward at the beginning of the new week, prior to the US holidays regarding the celebration of the 4th of July, which is ...
Monday, 02 July 12
ORPHEUS STRENGTHENS REVENUE STREAM WITH NEW ROYALTY AGREEMENT AT THE B2 COAL PROJECT
Orpheus Energy (ASX:OEG) is pleased to advise that it has executed a life of mine Royalty Agreement with Indonesian mining contractor PT Debbia Mini ...
Monday, 02 July 12
DRY BULK DEMAND TO RISE TO 3.6 BILLION TONNES IN 2012, BUT NEW BUILDING DELIVERIES ARE
In its latest analysis on the dry bulk market fundamentals, DVB Bank said that dry bulk cargo demand is forecast to rise to approximately 3.6 billio ...
Sunday, 01 July 12
AUSTRALIAS CARBON TAX - SUNIL K KUMBHAT
COALspot.com - Climate Change
Climate change and global warming have now become buzzwords the world over. The disastrous consequences for global ...
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- Bharathi Cement Corporation - India
- IHS Mccloskey Coal Group - USA
- New Zealand Coal & Carbon
- Bhushan Steel Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Intertek Mineral Services - Indonesia
- Borneo Indobara - Indonesia
- Simpson Spence & Young - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- South Luzon Thermal Energy Corporation
- Energy Link Ltd, New Zealand
- Cigading International Bulk Terminal - Indonesia
- Singapore Mercantile Exchange
- VISA Power Limited - India
- Coalindo Energy - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Orica Australia Pty. Ltd.
- Indogreen Group - Indonesia
- Merrill Lynch Commodities Europe
- Vedanta Resources Plc - India
- Xindia Steels Limited - India
- London Commodity Brokers - England
- Ministry of Transport, Egypt
- Altura Mining Limited, Indonesia
- SN Aboitiz Power Inc, Philippines
- Georgia Ports Authority, United States
- Renaissance Capital - South Africa
- Siam City Cement - Thailand
- Kohat Cement Company Ltd. - Pakistan
- Bhatia International Limited - India
- Sojitz Corporation - Japan
- Sinarmas Energy and Mining - Indonesia
- GMR Energy Limited - India
- Manunggal Multi Energi - Indonesia
- Neyveli Lignite Corporation Ltd, - India
- Savvy Resources Ltd - HongKong
- Power Finance Corporation Ltd., India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Binh Thuan Hamico - Vietnam
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- GVK Power & Infra Limited - India
- Kartika Selabumi Mining - Indonesia
- Thiess Contractors Indonesia
- Indika Energy - Indonesia
- Petron Corporation, Philippines
- Marubeni Corporation - India
- Aboitiz Power Corporation - Philippines
- Mercuria Energy - Indonesia
- Romanian Commodities Exchange
- Toyota Tsusho Corporation, Japan
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Bukit Asam (Persero) Tbk - Indonesia
- Central Java Power - Indonesia
- Samtan Co., Ltd - South Korea
- Tata Chemicals Ltd - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Rashtriya Ispat Nigam Limited - India
- Malabar Cements Ltd - India
- Rio Tinto Coal - Australia
- Wood Mackenzie - Singapore
- The University of Queensland
- Sakthi Sugars Limited - India
- Krishnapatnam Port Company Ltd. - India
- Semirara Mining and Power Corporation, Philippines
- Minerals Council of Australia
- International Coal Ventures Pvt Ltd - India
- Kaltim Prima Coal - Indonesia
- Chamber of Mines of South Africa
- Sindya Power Generating Company Private Ltd
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Antam Resourcindo - Indonesia
- Siam City Cement PLC, Thailand
- Mintek Dendrill Indonesia
- Price Waterhouse Coopers - Russia
- Pendopo Energi Batubara - Indonesia
- Bangladesh Power Developement Board
- Ministry of Finance - Indonesia
- Formosa Plastics Group - Taiwan
- India Bulls Power Limited - India
- Kideco Jaya Agung - Indonesia
- Aditya Birla Group - India
- Indian Oil Corporation Limited
- Coastal Gujarat Power Limited - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Standard Chartered Bank - UAE
- Port Waratah Coal Services - Australia
- Gujarat Electricity Regulatory Commission - India
- The State Trading Corporation of India Ltd
- Planning Commission, India
- Essar Steel Hazira Ltd - India
- Therma Luzon, Inc, Philippines
- GN Power Mariveles Coal Plant, Philippines
- Gujarat Sidhee Cement - India
- Ceylon Electricity Board - Sri Lanka
- SMG Consultants - Indonesia
- Metalloyd Limited - United Kingdom
- Sarangani Energy Corporation, Philippines
- PowerSource Philippines DevCo
- PTC India Limited - India
- Deloitte Consulting - India
- PetroVietnam Power Coal Import and Supply Company
- Kepco SPC Power Corporation, Philippines
- Interocean Group of Companies - India
- Ambuja Cements Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Straits Asia Resources Limited - Singapore
- Kalimantan Lumbung Energi - Indonesia
- Oldendorff Carriers - Singapore
- European Bulk Services B.V. - Netherlands
- Energy Development Corp, Philippines
- Star Paper Mills Limited - India
- Lanco Infratech Ltd - India
- Grasim Industreis Ltd - India
- PNOC Exploration Corporation - Philippines
- Australian Commodity Traders Exchange
- Directorate Of Revenue Intelligence - India
- Coal and Oil Company - UAE
- Makarim & Taira - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Australian Coal Association
- Meenaskhi Energy Private Limited - India
- McConnell Dowell - Australia
- Indian Energy Exchange, India
- Salva Resources Pvt Ltd - India
- Barasentosa Lestari - Indonesia
- Indo Tambangraya Megah - Indonesia
- Parry Sugars Refinery, India
- Commonwealth Bank - Australia
- Sree Jayajothi Cements Limited - India
- CIMB Investment Bank - Malaysia
- Mercator Lines Limited - India
- Bukit Makmur.PT - Indonesia
- Carbofer General Trading SA - India
- Asmin Koalindo Tuhup - Indonesia
- Karbindo Abesyapradhi - Indoneisa
- Medco Energi Mining Internasional
- Posco Energy - South Korea
- Timah Investasi Mineral - Indoneisa
- Cement Manufacturers Association - India
- Meralco Power Generation, Philippines
- Ind-Barath Power Infra Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Karaikal Port Pvt Ltd - India
- Bhoruka Overseas - Indonesia
- Globalindo Alam Lestari - Indonesia
- Attock Cement Pakistan Limited
- Latin American Coal - Colombia
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Tamil Nadu electricity Board
- Jorong Barutama Greston.PT - Indonesia
- Vizag Seaport Private Limited - India
- Banpu Public Company Limited - Thailand
- Riau Bara Harum - Indonesia
- Edison Trading Spa - Italy
- GAC Shipping (India) Pvt Ltd
- Billiton Holdings Pty Ltd - Australia
- Leighton Contractors Pty Ltd - Australia
- White Energy Company Limited
- TNB Fuel Sdn Bhd - Malaysia
- MS Steel International - UAE
- Jindal Steel & Power Ltd - India
- Petrochimia International Co. Ltd.- Taiwan
- Kumho Petrochemical, South Korea
- Vijayanagar Sugar Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Trasteel International SA, Italy
- Bayan Resources Tbk. - Indonesia
- Global Coal Blending Company Limited - Australia
- Thai Mozambique Logistica
- Africa Commodities Group - South Africa
- Baramulti Group, Indonesia
- ASAPP Information Group - India
- Economic Council, Georgia
- Maheswari Brothers Coal Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Bulk Trading Sa - Switzerland
- ICICI Bank Limited - India
- Chettinad Cement Corporation Ltd - India
- Videocon Industries ltd - India
- CNBM International Corporation - China
- Sical Logistics Limited - India
- Indonesian Coal Mining Association
- IEA Clean Coal Centre - UK
- Semirara Mining Corp, Philippines
- LBH Netherlands Bv - Netherlands
- Miang Besar Coal Terminal - Indonesia
- Bukit Baiduri Energy - Indonesia
- San Jose City I Power Corp, Philippines
- Larsen & Toubro Limited - India
- The Treasury - Australian Government
- Goldman Sachs - Singapore
- Kapuas Tunggal Persada - Indonesia
- Anglo American - United Kingdom
- Heidelberg Cement - Germany
- Kobexindo Tractors - Indoneisa
- OPG Power Generation Pvt Ltd - India
- Alfred C Toepfer International GmbH - Germany
- Mjunction Services Limited - India
- Eastern Coal Council - USA
- Independent Power Producers Association of India
- Parliament of New Zealand
- Global Green Power PLC Corporation, Philippines
- TeaM Sual Corporation - Philippines
- Orica Mining Services - Indonesia
- Ministry of Mines - Canada
- Global Business Power Corporation, Philippines
- Central Electricity Authority - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Wilmar Investment Holdings
- SMC Global Power, Philippines
- Agrawal Coal Company - India
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