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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 April 12
COAL EXPORT TAX: MATTER OF CONCERN FOR INDIA - SUNIL K KUMBHAT
COALspot.com - Since the issuance of Indonesian Mining law in 2009, miners have increased their activities in exploring , ex ...
Thursday, 05 April 12
AKR COAL FIRST EXPORT SHIPMENT OF COAL SEABORNE
PT Anugrah Karya Raya (AKR Coal) subsidiary of PT AKR Corporindo Tbk., Indonesia’s leading integrated supply chain solutions provider and larg ...
Thursday, 05 April 12
DRY BULK MARKET STALLS AS TREND IS REVERSED - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING
The dry bulk market has halted its month-long rally, with the BDI (Baltic Dry Index) retreating yesterday for a second consecutive session. Industry ...
Wednesday, 04 April 12
OIL MAY JUMP TO $150PB IF IRAN ATTACKED: EXPERT - KUNA / HELLENIC SHIPPING
Prices of oil will not drop below level of $100 per barrel and may jump to $150 pb in the coming two months, according to the prominent Kuwaiti expe ...
Wednesday, 04 April 12
CHURCHILL MINING TO ACCELERATE INTERNATIONAL ARBITRATION AGAINST INDONESIA
Churchill Mining plc (AIM: CHL), advises that notations on the Indonesian Supreme Court's register of cases shows the Supreme Court has rejected th ...
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- Energy Development Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Grasim Industreis Ltd - India
- Dalmia Cement Bharat India
- Kartika Selabumi Mining - Indonesia
- The University of Queensland
- New Zealand Coal & Carbon
- Port Waratah Coal Services - Australia
- Indian Oil Corporation Limited
- Thiess Contractors Indonesia
- Medco Energi Mining Internasional
- Commonwealth Bank - Australia
- Toyota Tsusho Corporation, Japan
- SMG Consultants - Indonesia
- IHS Mccloskey Coal Group - USA
- Eastern Energy - Thailand
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- Altura Mining Limited, Indonesia
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- Samtan Co., Ltd - South Korea
- Kaltim Prima Coal - Indonesia
- Essar Steel Hazira Ltd - India
- The Treasury - Australian Government
- Anglo American - United Kingdom
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Petrochimia International Co. Ltd.- Taiwan
- Kohat Cement Company Ltd. - Pakistan
- MS Steel International - UAE
- TNB Fuel Sdn Bhd - Malaysia
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- Miang Besar Coal Terminal - Indonesia
- Wood Mackenzie - Singapore
- Pipit Mutiara Jaya. PT, Indonesia
- Bhoruka Overseas - Indonesia
- Agrawal Coal Company - India
- Mjunction Services Limited - India
- Tata Chemicals Ltd - India
- Economic Council, Georgia
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- AsiaOL BioFuels Corp., Philippines
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- Tamil Nadu electricity Board
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- Jindal Steel & Power Ltd - India
- Africa Commodities Group - South Africa
- Indika Energy - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- PowerSource Philippines DevCo
- Mintek Dendrill Indonesia
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- Bukit Asam (Persero) Tbk - Indonesia
- Banpu Public Company Limited - Thailand
- Alfred C Toepfer International GmbH - Germany
- Antam Resourcindo - Indonesia
- Romanian Commodities Exchange
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- Jaiprakash Power Ventures ltd
- Mercuria Energy - Indonesia
- Central Electricity Authority - India
- Petron Corporation, Philippines
- Dong Bac Coal Mineral Investment Coporation - Vietnam
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- Timah Investasi Mineral - Indoneisa
- Sakthi Sugars Limited - India
- Minerals Council of Australia
- Baramulti Group, Indonesia
- Australian Commodity Traders Exchange
- CNBM International Corporation - China
- Malabar Cements Ltd - India
- Sarangani Energy Corporation, Philippines
- OPG Power Generation Pvt Ltd - India
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- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Standard Chartered Bank - UAE
- Indo Tambangraya Megah - Indonesia
- Therma Luzon, Inc, Philippines
- Straits Asia Resources Limited - Singapore
- GMR Energy Limited - India
- Metalloyd Limited - United Kingdom
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- Directorate General of MIneral and Coal - Indonesia
- Madhucon Powers Ltd - India
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- Bhatia International Limited - India
- Manunggal Multi Energi - Indonesia
- GVK Power & Infra Limited - India
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- Sindya Power Generating Company Private Ltd
- SMC Global Power, Philippines
- Riau Bara Harum - Indonesia
- Kobexindo Tractors - Indoneisa
- LBH Netherlands Bv - Netherlands
- Wilmar Investment Holdings
- Sical Logistics Limited - India
- Gujarat Electricity Regulatory Commission - India
- Posco Energy - South Korea
- Kideco Jaya Agung - Indonesia
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- Power Finance Corporation Ltd., India
- Siam City Cement - Thailand
- Xindia Steels Limited - India
- Edison Trading Spa - Italy
- Parliament of New Zealand
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- Semirara Mining Corp, Philippines
- Electricity Authority, New Zealand
- Uttam Galva Steels Limited - India
- Orica Mining Services - Indonesia
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- Kapuas Tunggal Persada - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Salva Resources Pvt Ltd - India
- White Energy Company Limited
- Neyveli Lignite Corporation Ltd, - India
- Chamber of Mines of South Africa
- Siam City Cement PLC, Thailand
- Sojitz Corporation - Japan
- Latin American Coal - Colombia
- Ministry of Transport, Egypt
- ASAPP Information Group - India
- Videocon Industries ltd - India
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- Directorate Of Revenue Intelligence - India
- Thai Mozambique Logistica
- Indonesian Coal Mining Association
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- Bukit Baiduri Energy - Indonesia
- Global Coal Blending Company Limited - Australia
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- Bangladesh Power Developement Board
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- Orica Australia Pty. Ltd.
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- Singapore Mercantile Exchange
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- Sinarmas Energy and Mining - Indonesia
- Deloitte Consulting - India
- Price Waterhouse Coopers - Russia
- Trasteel International SA, Italy
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- Energy Link Ltd, New Zealand
- San Jose City I Power Corp, Philippines
- Georgia Ports Authority, United States
- Australian Coal Association
- Intertek Mineral Services - Indonesia
- Ceylon Electricity Board - Sri Lanka
- Ind-Barath Power Infra Limited - India
- Eastern Coal Council - USA
- Coastal Gujarat Power Limited - India
- Ministry of Mines - Canada
- VISA Power Limited - India
- ICICI Bank Limited - India
- Ministry of Finance - Indonesia
- GN Power Mariveles Coal Plant, Philippines
- Parry Sugars Refinery, India
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Carbofer General Trading SA - India
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