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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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Monday, 26 March 12
WEEKLY DRY MARKET OVERVIEW - MARIA BERTZELETOU, HELLENIC SHIPPING
The Baltic Dry Index follows its upward incline for fourth consecutive week by rising to more than 900 points, up by 37% from the bottom low in the ...
Monday, 26 March 12
GOLDEN MINES FY11 REVENUE JUMPS 209% - INSIDER STORIES
Insider Stories reported that, coal miner PT Golden Energy Mines Tbk (GEMS), that is controlled by Sinar Mas Group, recorded a 209% jump in revenue ...
Saturday, 24 March 12
AUSTRALIA'S MINERAL TAX : BENCHMARK FOR OTHER COUNTRIES - SUNIL K KUMBHAT
COALspot.com - Natural resources rich counties like Australia , Indonesia , South Africa , Brazil etc are going through a spectacular resources boom ...
Saturday, 24 March 12
THE AVERAGE CHARTER RATES WAS AT CAPESIZE $ 4,546 PER DAY VS SUPRAMAX / $ 10,819 PER DAY - VISTAAR
COALspot.com - The BDI crossed 900 points this week closing at 908 points up by 3.89 pct. All other sectors were up except for cape index whic ...
Thursday, 22 March 12
ECI-CHINA HANDY RATES ARE AROUND US$ 8000 - FEARNLEYS
Handy
Another positive trend was seen last week with more cargoes entering the market. Skaw-Passero/US Gulf climbed slowly up to USD 3700, while US ...
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- Posco Energy - South Korea
- Coal and Oil Company - UAE
- Coastal Gujarat Power Limited - India
- Kumho Petrochemical, South Korea
- Madhucon Powers Ltd - India
- Karbindo Abesyapradhi - Indoneisa
- Neyveli Lignite Corporation Ltd, - India
- Romanian Commodities Exchange
- Sinarmas Energy and Mining - Indonesia
- PNOC Exploration Corporation - Philippines
- Cement Manufacturers Association - India
- Australian Coal Association
- Rashtriya Ispat Nigam Limited - India
- Economic Council, Georgia
- Global Coal Blending Company Limited - Australia
- Gujarat Sidhee Cement - India
- European Bulk Services B.V. - Netherlands
- Makarim & Taira - Indonesia
- Rio Tinto Coal - Australia
- Power Finance Corporation Ltd., India
- Ind-Barath Power Infra Limited - India
- Energy Development Corp, Philippines
- IHS Mccloskey Coal Group - USA
- Carbofer General Trading SA - India
- Mjunction Services Limited - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Tamil Nadu electricity Board
- Electricity Generating Authority of Thailand
- Semirara Mining Corp, Philippines
- Kalimantan Lumbung Energi - Indonesia
- Xindia Steels Limited - India
- Wood Mackenzie - Singapore
- Metalloyd Limited - United Kingdom
- India Bulls Power Limited - India
- Commonwealth Bank - Australia
- Pendopo Energi Batubara - Indonesia
- Electricity Authority, New Zealand
- PTC India Limited - India
- Riau Bara Harum - Indonesia
- Videocon Industries ltd - India
- MS Steel International - UAE
- Bhatia International Limited - India
- Ceylon Electricity Board - Sri Lanka
- Parliament of New Zealand
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Leighton Contractors Pty Ltd - Australia
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Indian Energy Exchange, India
- Indo Tambangraya Megah - Indonesia
- Straits Asia Resources Limited - Singapore
- Siam City Cement PLC, Thailand
- SN Aboitiz Power Inc, Philippines
- Bayan Resources Tbk. - Indonesia
- Interocean Group of Companies - India
- Kohat Cement Company Ltd. - Pakistan
- Binh Thuan Hamico - Vietnam
- Vizag Seaport Private Limited - India
- Kideco Jaya Agung - Indonesia
- Parry Sugars Refinery, India
- Thai Mozambique Logistica
- Asmin Koalindo Tuhup - Indonesia
- Sakthi Sugars Limited - India
- Price Waterhouse Coopers - Russia
- Therma Luzon, Inc, Philippines
- Mercator Lines Limited - India
- London Commodity Brokers - England
- Alfred C Toepfer International GmbH - Germany
- Kartika Selabumi Mining - Indonesia
- Larsen & Toubro Limited - India
- Sindya Power Generating Company Private Ltd
- GMR Energy Limited - India
- Oldendorff Carriers - Singapore
- Indogreen Group - Indonesia
- Aditya Birla Group - India
- Baramulti Group, Indonesia
- Jindal Steel & Power Ltd - India
- Agrawal Coal Company - India
- PetroVietnam Power Coal Import and Supply Company
- Bangladesh Power Developement Board
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Krishnapatnam Port Company Ltd. - India
- Holcim Trading Pte Ltd - Singapore
- Grasim Industreis Ltd - India
- Thiess Contractors Indonesia
- TNB Fuel Sdn Bhd - Malaysia
- GVK Power & Infra Limited - India
- Altura Mining Limited, Indonesia
- Miang Besar Coal Terminal - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Planning Commission, India
- Intertek Mineral Services - Indonesia
- Tata Chemicals Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Edison Trading Spa - Italy
- The State Trading Corporation of India Ltd
- Central Electricity Authority - India
- SMG Consultants - Indonesia
- Cigading International Bulk Terminal - Indonesia
- Savvy Resources Ltd - HongKong
- Port Waratah Coal Services - Australia
- Georgia Ports Authority, United States
- The Treasury - Australian Government
- Vedanta Resources Plc - India
- SMC Global Power, Philippines
- Bulk Trading Sa - Switzerland
- Directorate Of Revenue Intelligence - India
- Kapuas Tunggal Persada - Indonesia
- Sree Jayajothi Cements Limited - India
- Ministry of Finance - Indonesia
- GAC Shipping (India) Pvt Ltd
- Globalindo Alam Lestari - Indonesia
- Goldman Sachs - Singapore
- Maheswari Brothers Coal Limited - India
- Wilmar Investment Holdings
- Attock Cement Pakistan Limited
- CNBM International Corporation - China
- Aboitiz Power Corporation - Philippines
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Heidelberg Cement - Germany
- Jaiprakash Power Ventures ltd
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Kaltim Prima Coal - Indonesia
- Directorate General of MIneral and Coal - Indonesia
- Star Paper Mills Limited - India
- Maharashtra Electricity Regulatory Commission - India
- Bhushan Steel Limited - India
- Borneo Indobara - Indonesia
- Iligan Light & Power Inc, Philippines
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Medco Energi Mining Internasional
- Dalmia Cement Bharat India
- PowerSource Philippines DevCo
- LBH Netherlands Bv - Netherlands
- Bhoruka Overseas - Indonesia
- Kobexindo Tractors - Indoneisa
- Bahari Cakrawala Sebuku - Indonesia
- Sojitz Corporation - Japan
- Eastern Coal Council - USA
- Malabar Cements Ltd - India
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- Indonesian Coal Mining Association
- Orica Australia Pty. Ltd.
- Meenaskhi Energy Private Limited - India
- Eastern Energy - Thailand
- ASAPP Information Group - India
- Barasentosa Lestari - Indonesia
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Africa Commodities Group - South Africa
- Deloitte Consulting - India
- Toyota Tsusho Corporation, Japan
- Meralco Power Generation, Philippines
- International Coal Ventures Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Bank of Tokyo Mitsubishi UFJ Ltd
- Ministry of Mines - Canada
- Latin American Coal - Colombia
- Merrill Lynch Commodities Europe
- Banpu Public Company Limited - Thailand
- Timah Investasi Mineral - Indoneisa
- Mercuria Energy - Indonesia
- OPG Power Generation Pvt Ltd - India
- Offshore Bulk Terminal Pte Ltd, Singapore
- Central Java Power - Indonesia
- Sarangani Energy Corporation, Philippines
- New Zealand Coal & Carbon
- Salva Resources Pvt Ltd - India
- Minerals Council of Australia
- Coalindo Energy - Indonesia
- Marubeni Corporation - India
- Kepco SPC Power Corporation, Philippines
- Manunggal Multi Energi - Indonesia
- Independent Power Producers Association of India
- Chettinad Cement Corporation Ltd - India
- South Luzon Thermal Energy Corporation
- Mintek Dendrill Indonesia
- Formosa Plastics Group - Taiwan
- Bharathi Cement Corporation - India
- Siam City Cement - Thailand
- Bukit Baiduri Energy - Indonesia
- Australian Commodity Traders Exchange
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Anglo American - United Kingdom
- Bukit Makmur.PT - Indonesia
- Ministry of Transport, Egypt
- Ambuja Cements Ltd - India
- Singapore Mercantile Exchange
- Petron Corporation, Philippines
- AsiaOL BioFuels Corp., Philippines
- Orica Mining Services - Indonesia
- Trasteel International SA, Italy
- Antam Resourcindo - Indonesia
- Simpson Spence & Young - Indonesia
- Indian Oil Corporation Limited
- Standard Chartered Bank - UAE
- Global Green Power PLC Corporation, Philippines
- Karaikal Port Pvt Ltd - India
- Global Business Power Corporation, Philippines
- IEA Clean Coal Centre - UK
- CIMB Investment Bank - Malaysia
- Billiton Holdings Pty Ltd - Australia
- Samtan Co., Ltd - South Korea
- White Energy Company Limited
- Indika Energy - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- The University of Queensland
- Essar Steel Hazira Ltd - India
- Semirara Mining and Power Corporation, Philippines
- TeaM Sual Corporation - Philippines
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